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GM, Chrysler And Trump Casinos Seek Assistance

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GM, Chrysler And Trump Casinos Seek Assistance

Business

GM, Chrysler And Trump Casinos Seek Assistance

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ARI SHAPIRO, host:

NPR's business news starts with a day of reckoning for GM and Chrysler.

The automakers must submit full restructuring plans to the Treasury Department today. They're trying to justify the more than $13 billion in loans they've already received from the federal government. Both companies are seeking concessions from the United Auto Workers and creditors.

STEVE INSKEEP, host:

Agreements may not come until after today's deadline passes. But either way, the companies are expected to pick up the next installment of their loans soon. GM will get another $4 billion today, and Chrysler is requesting an additional $3 billion.

SHAPIRO: Now there's no talk of a bailout for the casino industry, but maybe they need it. Donald Trump's casino group, Trump Entertainment Resorts, has filed for Chapter 11 bankruptcy protection for the third time. Trump resigned as chairman of the board late last week. Trump's daughter, Ivanka Trump, has also quit the board.

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