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Treasury Lays Out Details for Auto Aid

WASHINGTON (AP) - The Treasury Department says it will decide on
a case-by-case basis whether other companies connected to the
struggling automotive industry should be provided emergency aid
from the government's $700 billion bailout pot.
President George W. Bush reversed course on Dec. 19 and
announced a $17.4 billion rescue package for teetering auto giants,
General Motors Corp. and Chrysler LLC, which were burning through
cash and bleeding jobs.
The government earlier this week provided $5 billion in aid to
GMAC Financial Services, GM's troubled financing arm.
In deciding whether to aid others, the department says it will
consider "the importance of the institution to production by, or
financing of, the American automotive industry," and whether a
major disruption of the companies' operations would likely hurt
employment and the national economy.


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