U.S. Treasury not negtiating new GM aid-official

Newswire

WASHINGTON, Oct 30 (Reuters) - The U.S. Treasury Department is not negotiating with General Motors Corp and the owners of Chrysler LLC on a request to provide direct government aid to their proposed merger, a Bush administration official said on Thursday. Instead, the administration is working to speed the distribution to automakers of $25 billion in factory retooling funds already authorized by Congress, the official told Reuters. Earlier this week, industry sources said GM had asked ...

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