Financial Times FT.com

Strings may be attached to any Detroit bailout

By Bernard Simon in Toronto and Daniel Dombey in Washington

Published: December 4 2008 23:45 | Last updated: December 4 2008 23:45

The three beleaguered Detroit carmakers could face a dramatic shake-up if they succeed in obtaining a $34bn lifeline from Congress.

Proposals put forward at a hearing of the Senate banking committee on Thursday included a board or a single individual with sweeping authority to determine how General Motors, Ford Motor and Chrysler run their businesses. Several members of the committee suggested that GM, the biggest, should revive talks held in autumn to take over Chrysler.

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