Detroit's Big 3 Plead Their Case in Washington

Plan would repurpose $25B fuel-efficiency carrot already passed

(NEWSER) - Senate Republicans are crafting legislation that would repurpose an already-approved $25 billion Energy Department initiative to bail out struggling automakers, the Detroit News reports. The plan is at odds with Democratic efforts, which would use money from the $700 billion Wall Street bailout to help Detroit. The Energy money was originally intended to spur an increase in fuel efficiency. More»

Senate Democrat enlisted to work on compromise package

(NEWSER) - Sen. Chris Dodd welcomed the Big Three CEOs back to the Senate Banking Committee today by declaring his support for an auto bailout, the AP reports. Chariman Dodd said inaction would be akin to playing “Russian Roulette with the economy.” He praised the automakers for making a better case for assistance than the financial industry, which won a $700 billion rescue plan. More»

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

(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. More»

Bush supports some aid, but it must be done his way, he warns Dems

(AP) - Using the word "recession" for the first time to describe the US economy, President Bush today demanded that Congress adopt his approach to an auto bailout and require car companies to pay back any federal aid. But he displayed skepticism about the wisdom of new aid, saying he is concerned that some of Detroit's Big Three automakers may not survive. More»

(NEWSER) - In an open letter to members of Congress, the Detroit Free Press insists that the government cannot turn its back on the auto industry. If it does, "there will be economic hell to pay—not just in Detroit, but all across America, including in your state, in your district." Millions of jobs woven throughout the economy are at stake, as is the very fate of the nation's manufacturing base. "You don't want all this blood on your hands," says the editorial. "No one could." More»