US Government's Rescue Plans for Carmakers Under Fire
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Some US members of Congress have taken new aim at the government-led restructuring of General Motors (GM) Corp. and Chrysler Group LLC, demanding additional restrictions on the two ailing automakers, reports reaching said on Thursday.
Senator Bob Corker, a frequent critic of Obama administration auto policy, said he will propose giving control over the government's stake in GM and other companies part-owned by the government to an independent board.
A Michigan lawmaker, Pete Hoekstra, leveled sharp criticism of the two companies' controversial dealership closings.
Hoekstra said he had added his name to the nearly 150 House members co-sponsoring a bill that would bar GM and Chrysler from using the bankruptcy process to shed dealers.
GM spokesman Greg Martin said the company would try to resolve concerns from Hoekstra and other lawmakers.
GM wants to close at least 1,330 US dealers.
As Congress continued to try to influence the automakers' bankruptcy restructuring, GM Chief Executive Fritz Henderson told reporters in Detroit Wednesday that he expects the White House auto task force to continue oversight of the company until the "New GM" emerges from bankruptcy with its now board of directors. He said GM is on track to exit bankruptcy court in 60 to 90 days.
(Xinhua News Agency June 19, 2009)