U.S. automakers seek Fed loans to ride downturn-WSJ

Newswire

DETROIT, Aug 22 (Reuters) - The Big 3 Detroit-based automakers are seeking about $25 billion in federal loans as they struggle to ride out a steep downturn in U.S. auto sales, The Wall Street Journal reported on Friday. The U.S. automakers -- General Motors Corp , Ford Motor Co and Chrysler LLC -- briefed White House officials, Congressman John Dingell and Michigan Democrats on a possible bailout and plan to unveil the proposal next month, according to the report. The plan is for the ...

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