The auto taskforce named by President Obama to evaluate and oversee the restructuring plans and bailout funds given to the Big Three automakers is in Detroit this week working with GM officials to help speed up their restructuring process to meet the 60 day deadline given last week to come up with a new plan for future viability.
 

The meeting comes after President Barack Obama’s administration last week gave GM 60 days to develop a more sweeping restructuring plan and ousted its then-CEO, Rick Wagoner.

“The goal is to accelerate the process that the President laid out last Monday,” the official said of the task force’s meeting with GM.

“They will be in Detroit through the end of the week and will be returning next week as well.”

Automotive News also reports that one source told them that the company was also making preparations for bankruptcy, if necessary.