Breaking News Alert The New York Times Monday, March 30, 2009 -- 12:00 AM ET ----- U.S. Moves to Revamp Ailing Carmakers The White House on Sunday pushed out the chairman of General Motors and instructed Chrysler to form a partnership with the Italian automaker Fiat within 30 days as conditions for receiving another much-needed round of government aid. The decision to ask G.M.'s chairman and chief executive, Rick Wagoner, to resign caught Detroit and Washington by surprise, and it underscored the Obama administration's determination to take a hands-on role in the companies it is bailing out -- a level of government involvement in business not seen since the Great Depression. President Obama is scheduled to announce details of the auto package at the White House on Monday, but two senior officials, offering a preview on condition of anonymity, made clear that some form of bankruptcy - a quick, court-supervised restructuring, as they described it - could still be an option for one or both companies. Read More: http://www.nytimes.com/?emc=na ----- Now get the New York Times Breaking News to your mobile phone. Sign up for the alerts by texting NEWSALERTS to 698698 (NYTNYT). ----- About This E-Mail You received this message because you are signed up to receive Breaking News Alerts from NYTimes.com. To unsubscribe, change your e-mail address or to sign up for daily headlines or other newsletters, go to: http://www.nytimes.com/email NYTimes.com 620 Eighth Ave. New York, NY 10018 Copyright 2009 The New York Times Company
-- Posted By Breaking News to Break News at 3/30/2009 07:04:00 AM
