One thing is clear: Any major overhaul of the industry is likely to stir political trouble in the short term and cost jobs in the long term. Congressional leaders are preparing for a (showdown) with the Bush administration, which has been (reluctant) to extend aid beyond the financial sector.
Key (Republicans) are demanding to know how Detroit would fix its problems if it received more government aid. "Why have the Democratic leaders of (Congress) been willing to provide this money without insisting that the companies (receiving) these federal dollars (demonstrate) to Congress and to taxpayers that they have a (credible) plan to strengthen their financial health?" House Minority Leader John A. Boehner R-Ohio said Thursday.
With Obama and other Democratic leaders talking about the need for U.S. automakers to produce more energy-efficient cars, the industry is (bracing for a fight). As one Detroit (columnist) recently wrote, a bailout probably "will come with more strings than a loan from Tony Soprano."
General Motors Corp.'s financial condition is so dire that it says it needs (federal) help even before Obama takes office. Last week, GM reported a $2.5-billion loss for the third quarter and said it could run out of cash in the first half of 2009.