US automakers buy more time

General Motors (GM) and Chrysler are to get additional loans and more time from the US treasury as the troubled carmakers work on plans to try and make themselves viable and stave off bankruptcy.   GM could get as much as $5 billion more in federal loans, while Chrysler could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed Tuesday.  A special inspector general on the auto industry and bank bailout programs says the money will be made available for working capital. GM now has until June 1 to complete restructuring plans that satisfy the government's auto task force, while Chrysler has until April 30.  The firms have already received a combined $17.4 billion in aid since December.  The government's auto task force rejected both companies' restructuring plans on March 30 and gave Chrysler until the end of April to make further cuts and take on a partner or face liquidation. If GM doesn't meet its deadline, it will be forced to restructure under bankruptcy protection. This latest funding will bridge the gap until they have to present new reorganization plans.  GM CEO Fritz Henderson said last week that the automaker would need $4.6 billion during the second quarter. Chrysler, which has already received about $4 billion in government loans, is in talks with Fiat. However, the boss of the Italian carmaker has threatened to walk away from an alliance if unions do not make concessions.