More Aid for GM, Chrysler

A few days ago GM looked headed for “surgical” bankruptcy. Apparently, not anymore: According to the Reuters, “The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy.” GM announced yesterday it would cut 1,600 jobs by May 1.