Washington, DC - Today, Democratic Members of Congress from Michigan including the eight Members of the U.S. House of Representatives and the two Michigan Senators met with Rahm Emanuel, White House Chief of Staff and Larry Summers, Director of the White House's National Economic Council, at the White House to discuss the ongoing restructuring of Chrysler LCC and General Motors (GM).  After the meeting, the 10 Michigan Democrats released the following statement:

“First, we want to thank President Obama and his team at Treasury and the Auto Task Force for working towards the goal of a strong, viable and competitive domestic auto industry. 

“Today’s meeting was a good one.  With the deadline for Chrysler set for April 30, we discussed the positive opportunity presented by the alliance with Fiat and our commitment to pursuing that result.  We spoke frankly about our very serious concerns about bankruptcy for Chrysler and GM, and the Administration spoke frankly about their continued efforts to see Chrysler and GM emerge from restructuring through an out-of-court process.  The Administration is working diligently to help these companies reach agreement with all of their stakeholders, including the secured lenders to Chrysler and GM’s bondholders.  We all recognize, however, that the Administration and the companies must continue to prepare contingency plans to avoid liquidation or a protracted restructuring process should the ongoing negotiations for out-of-court resolution fail.

“We look forward to continuing to work with the President and his Administration, as well as our Republican colleagues from Michigan and concerned Members of Congress from all across the country, to bring about an out-of-court resolution for Chrysler and GM that preserves the most number of jobs for our future.”