UPDATE 1-Mich. Gov. urges 'quick' federal loans to automakers

Newswire

(Adds a meeting with local economic leaders, comments about GM-Chrysler merger, byline) By Soyoung Kim DEARBORN, Mich., Oct 30 (Reuters) - U.S. automakers need "quick loans" from the federal government beyond the $25 billion loan package already approved in order to prevent one of them from failing because of the tight credit markets, Michigan Governor Jennifer Granholm said on Thursday. "We need to see some additional quick loans so that the industry can make it through the next six ...

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