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TUESDAY, NOVEMBER 24, 2009
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4

Big 3 CEOs Head Back to DC—This Time by Car

CEOs of America's automakers will renew plea for bailout today

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(Newser) – The Big Three CEOs are heading back to Washington this week, and this time two of them will be driving, the Wall Street Journal reports—Alan Mulally in a Ford Escape hybrid, and Rick Wagoner in a Chevrolet Malibu hybrid. The CEOs will attempt Thursday to persuade Congress to extend them $25 billion in low-cost loans, based on reorganization plans to be submitted today.

Ford’s Mulally will announce that his company is fast tracking hybrid and electric vehicles and he's cutting his salary to $1. GM’s Wagoner will offer to sell at least one brand (likely Saab) and restructure GM’s debt, and he'll join Mulally in sacrificing his salary. Chrysler’s Robert Nardelli plans to join an alliance with a foreign automaker. UAW leaders will meet tomorrow in Detroit to discuss potentially reopening labor agreements to help win congressional support for the bailout.

Ford CEO Alan Mulally, right, testifies before the Senate on November 18 as General Motors CEO Rick Wagoner, left, and Chrysler Chief Executive Robert Nardelli listen.
Ford CEO Alan Mulally, right, testifies before the Senate on November 18 as General Motors CEO Rick Wagoner, left, and Chrysler Chief Executive Robert Nardelli listen.   (AP Photo/Manuel Balce Ceneta, File)
In an effort to greenwash his image after last months private-jet fiasco, Ford CEO Alan Mulally will drive to Washington in a Ford Escape Hybrid.
In an effort to greenwash his image after last months private-jet fiasco, Ford CEO Alan Mulally will drive to Washington in a Ford Escape Hybrid.   (AP Photo/Ford, FILE)
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We want to come blasting out as a global, green, high-tech company that's exactly where the country and the Obama administration want us to head.
- Ford Chairman William Ford Jr.

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4 comments
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Mr.C
Dec 2, 08 11:14 AM CST
Those 2 should have car-pooled Reply
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bacimom
Dec 8, 08 11:00 AM CST
By car... hmmm does that mean that 'heads' were gonna' roll? Reply
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Reader73731145
May 2, 09 2:50 PM CDT
So it's wrong for the auto companys to use their own company jets to fly from Detriot to DC for a congressional meeting but OK for Obama to use a government aircraft to fly a congressperson back from their home state for a vote? Reply
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Reader73731145
May 2, 09 2:58 PM CDT
So it's wrong for the auto companys to use their own company jet to fly from Detriot to DC for a congressional meeting but OK for Obama to use a government aircraft to fly a member of congess back to DC for a congressional vote? Reply
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