Obama extends short federal lifeline to GM, Chrysler

President Obama announced Monday that struggling automotive giants General Motors and Chrysler will be given a "limited" period of time to "restructure in a way that would justify an investment of additional taxpayer dollars." The federal government will give GM “adequate working capital” over the next 60 days to work in conjunction with the administration in developing a better recovery plan, he said.

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Colombian father accused of decades-long incest, rape

A central Colombian farm worker has been accused of raping his daughter for decades and fathering eight children with her. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government’s bailout strategy for the troubled automaker. “On Friday I was in Washington for a meeting with Administration officials.

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