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Members of the panel were expected to brief Cabinet members on the discussions. Earlier Friday, the National Automobile Dealers Association pressed the panel to seek an increase in the availability of floor plan credit, the money dealers borrow to pay for their inventory of vehicles. Dealers said the plight Adidas Superstar Silver Women
, and Chrysler's new product operations in Auburn Hills, Mich. , where the automakers are developing rechargeable electric vehicles. On Thursday, General Motors said in its annual report that auditors raised doubt about the Detroit automaker's ability to continue operating. GM has received $13. 4billion in federal loans and is seeking an additional $16. 6 billion. Asked whether GM could be headed for bankruptcy, Gibbs said the administration was seeking "a strengthened, retoole.
of GM and Chrysler was only one part of the harsh economic conditions punishing the industry. "Everything builds on each other," said John McEleney, an Iowa, auto dealer who serves as NADA chairman. "Without that floor plan piece, if the dealers can't order the vehicles, Adidas Superstar Khaki Green nothing else happens. " Members of the panel are scheduled to meet with GM and Chrysler executives Monday in the Detroit area and tour their facilities. They are expected to tour GM's technical center in suburban Warren, Mich.
execute turnaround plans submitted last month. Robert Gibbs, the White House press secretary, said before the meeting the "team is looking through those plans and figuring out how to be the best partner in what's next for the auto industry. " The panel has been gathering information from executives with GM, Chrysler and Ford Motor Co. , auto suppliers, bondholders, lawmakers and labor Adidas Superstar Navy Blue Stripes
dviser Larry Summers, were at the White House to review restructuring plans from GM and Chrysler, which are surviving on $17. 4 billion in loans. The government could recall its loans if GM and Chrysler fail to sign deals for debt restructuring and other concessions from stakeholders by March 31. GM and Chrysler are seeking $21. 6 billion in additional financing to Adidas Superstar Salmon