And there could be some changes at the top of the auto companies as part of the deal. Appearing on CBS News' "Face the Nation" yesterday morning, Senate Banking Committee Chairman Chris Dodd said new leadership of the car companies might be needed, particularly at General Motors where he said the company's chairman Rick Wagoner "has to move on." "I think you have got to consider new leadership," Dodd said on the program. "If you're going to really restructure this, you have got to bring in a new team to do this, in my view."
GM is reportedly in the most dire need of emergency aid and Michigan Governor Jennifer Granholm told the "Early Show" that "if General Motors doesn't get this loan by the end of this month, it is 'game over.'"