Effects of the 2008–2010 automotive industry crisis on the United States

Chrysler has announced plans to close its manufacturing plants for at least a month. Micheline Maynard, the Michigan-based New York Times business correspondent, joins The Takeaway to discuss the auto industry in hard times.

Under a plan being hammered out by Congress and the Administration, GM and Chrysler will get $15 billion in emergency loans. In return, they’ve agreed to close oversight by the federal government and pledged to get rid of their private jets.

The World’s Lorne Matalon reports that Mexico is considering giving financial help to GM, Ford and Chrysler. The three US automakers have plants in Mexico, and there is concern south of the border that the companies may not have the money to keep those plants open.