A vote on a bailout for the US auto industry may be taken as soon as tomorrow after negotiators worked through the night to hammer out a deal.
News agencies report a federal 'car czar' may be appointed to oversee a government package of short-term loans for the beleaguered sector.
The 'big three' carmakers – General Motors (GM), Ford and Chrysler – have requested government help to avert collapse with the loss of millions of US jobs.
Without federal aid, both GM and Chrysler are expected to fail by the end of this year.
Although government-backed loans are now looking more likely, sending shares in all three soaring, they will not be without conditions.
One casualty could be Rick Wagoner, the chairman of GM.
Senator Christopher Dodd, head of the senate banking committee who led one of the hearings into the auto bailout last week, said: "I think you've got to consider new leadership.
"If you're going to restructure, you've got to bring in a new team to do this. I think [Mr Wagoner] has to move on."
Digg 
Delicious 
Reddit 
StumbleUpon 
Google 
Technorati 
Netvouz