This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7772168.stm

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
US car bail-out nears agreement US car bail-out nears agreement
(10 minutes later)
The White House and Democrat leaders in Congress are close to agreeing a $15bn (£10bn) bail-out plan for the "Big Three" American car firms.The White House and Democrat leaders in Congress are close to agreeing a $15bn (£10bn) bail-out plan for the "Big Three" American car firms.
Under the deal - which could be agreed by the end of Monday - the government is expected to take non-voting shares in General Motors, Ford and Chrysler.Under the deal - which could be agreed by the end of Monday - the government is expected to take non-voting shares in General Motors, Ford and Chrysler.
It is also tipped to appoint a special "Car Tsar" to oversee the money, which is less than the firms had asked for.It is also tipped to appoint a special "Car Tsar" to oversee the money, which is less than the firms had asked for.
Analysts say the agreement could be signed into law by the end of the week.Analysts say the agreement could be signed into law by the end of the week.
'No blank cheque''No blank cheque'
The bosses of General Motors (GM), Ford and Chrysler have all appeared before Congress in recent weeks to say that without financial help they risked collapse.The bosses of General Motors (GM), Ford and Chrysler have all appeared before Congress in recent weeks to say that without financial help they risked collapse.
The bosses of Ford, GM and Chrysler went before Congress last week
The firms were asking for $25bn between them, but the federal plan is believed to be only proposing about $15bn.The firms were asking for $25bn between them, but the federal plan is believed to be only proposing about $15bn.
"This is no blank cheque or blank hope," said Democrat Senate Majority Leader Harry Reid."This is no blank cheque or blank hope," said Democrat Senate Majority Leader Harry Reid.
"If the companies fail to develop a plan that will lead to long-term competitiveness, profitability, if they fail to stick to that plan, the loan can be recalled.""If the companies fail to develop a plan that will lead to long-term competitiveness, profitability, if they fail to stick to that plan, the loan can be recalled."
'Lackluster'
GM, Ford and Chrysler have all seen sales fall sharply this year in their home market.
While this decline reflects an industry-wide fall that has also hit European and Japanese carmakers in the US, the "Big Three" have also been criticised for offering too narrow a range of vehicles.
They have been said to be too slow in responding to the growing popularity of smaller, more fuel-efficient vehicles.
GM admitted on Monday that it had "disappointed" American consumers by letting "our quality fall below industry standards and our designs became lackluster".