Automakers win loan support from Senate leader

Automakers seeking $25 billion in U.S. government loans won crucial support on from the Senate leader as Detroit manufacturers said "tens of thousands" of jobs could be at risk due to a weak economy and tight credit.

"I think it is extremely important that we do something," Senate Majority Leader Harry Reid told reporters when asked about prospects for helping all automakers, but especially GM, Chrysler and Ford.

Separately, the chief executives of Ford Motor Co, Alan Mulally, and Chrysler LLC's Robert Nardelli, said they were "pleased" and "encouraged" after making their case to House of Representatives Speaker Nancy Pelosi later in the day. General Motors Corp G.M CEO Rick Wagoner also attended the meeting.

"I thought the session went extremely well," Nardelli said. "I think the conversations have been candid and straight forward."

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