US President George W Bush has told leading US car manufacturers that his government will not throw good money after bad to bail out the country's embattled motor industry.
Mr Bush's comments came as the chief executives of three of the biggest car companies - GM, Ford and Chrysler - paid another visit to Washington in a bid to secure an increased financial rescue package.
They say they now need $34 billion if they are to maintain operations.
The chief executives of GM and Chrysler said they would consider restarting merger talks if it were necessary for the bail-out.
'I would be very willing to look at it seriously,' GM CEO Rick Wagoner told the Senate Banking Committee, adding that merger talks earlier this year were dropped on concerns GM did not have the financing to merge with Chrysler.
Chrysler CEO Robert Nardelli said his job would likely be the first to go in a merger with GM, but if that would save Chrysler and its workers 'I would do it'.
