Editorial Standards

Latest News Today maintains rigorous editorial standards. Our team verifies information from trusted sources and provides context to help readers understand complex stories.

Last Updated: Thursday, October 1, 2026 at 05:25 PM
Category: Id

Editor's Note

Latest News Today provides comprehensive coverage and analysis of breaking news stories. This article is part of our ongoing coverage of wbna27461917, bringing you verified information from trusted sources with added context and expert perspective.

Why This Matters: Understanding the full context of this story helps readers make informed decisions and stay updated on developments that impact our community.

Governors write in support of GM, Chrysler

The governors of six states have asked the treasury secretary and Federal Reserve chairman to take "immediate action" to help the troubled domestic automakers.

The governors of six states have asked the treasury secretary and Federal Reserve chairman to take "immediate action" to help the troubled domestic automakers.

General Motors Corp. and Chrysler LLC are in talks to combine in order to survive, but financing is one of the biggest obstacles.

GM is lobbying the Bush administration and some members of Congress for $10 billion to $15 billion in aid to help keep the company going and possibly to make the Chrysler deal work. GM could use some of the money to shut down redundant Chrysler operations.

In their letter, the governors of Michigan, Delaware, Kentucky, New York, Ohio and South Dakota reminded Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that the domestic automakers are "particularly challenged" in the down economy and warn that, "as a result, the financial well-being of other major industries and millions of American citizens are at risk."

"The auto industry; their network of suppliers, vendors, dealers and other businesses; and the communities that rely on those businesses face unimaginable challenges — challenges we urge you to help address," the governors wrote. The letter, sent Wednesday, was released Thursday by Democratic Michigan Gov. Jennifer Granholm's office.

White House spokeswoman Dana Perino said Thursday that the secretaries of the Treasury, Commerce and Energy departments are talking with the automakers.