The U.S. Treasury will give five billion dollars to auto suppliers in a bid to inject liquidity into the struggling industry that employs 500,000 people in the U.S. But you can’t call this one a bailout. Automakers GM and Chrysler now have to decide which suppliers will survive and which will fail. The Takeaway talks to Justin Hyde, Washington Correspondent for the Detroit Free Press.
As the United Auto Workers and General Motors Corp resumed bargaining yesterday on their restructuring plans to justify the government loans they so badly need to stay afloat, everyone was talking about sacrifice. And it seems the Obama Administration is sacrificing the idea of appointed a "car czar" and will appoint a presidential panel instead. Justin Hyde, reporter for The Detroit Free Press joins The Takeaway for the latest.