Financial Times FT.com

GM chief to lobby Congress on low-cost loans

By Bernard Simon in Toronto

Published: September 12 2008 07:40 | Last updated: September 12 2008 07:40

General Motors’ chief executive Rick Wagoner will on Friday join an intense lobbying drive by the embattled US motor industry to secure approval from Congress for at least $25bn in low-cost loans.

Mr Wagoner will be among witnesses at an all-day Senate energy committee hearing aimed at facilitating, in the words of its sponsors, “the development of comprehensive legislation to address America’s many energy challenges”.

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