Automakers Seek More Government Aid

The CEOs of Detroit's three automakers and the head of the United Auto Workers union asked Democratic congressional leaders to rush more government aid to their companies, offering to accept conditions such as granting stock warrants to the government in return for capital, the Wall Street Journal reports, citing a person familiar with the discussions.

President-elect Barack Obama and some other Democrats have expressed support for proposals to double to $50 billion a previously authorized government-loan program aimed at helping the automakers build more efficient cars. But House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid on Thursday made no explicit promises to the companies about further aid, the Journal reports.

A spokesman for Pelosi said she wants some form of "recoupment" for taxpayers in return for more subsidies, possibly faster rollout by the car makers of more fuel-efficient vehicles, the newspaper reports. ...