By
Associated Press
.
Published: Tue, December 02, 2008 - 3:35 am
Last Updated: Tue, December 02, 2008 - 3:37 am
WASHINGTON (AP) - Today is the deadline for the Big Threeautomakers to give Congress their plans to keep from going under.
In exchange for 25 billion dollars in loans, Congress is
demanding the financially ailing automakers provide specifics on
how they'll get on the road to economic viability.
In separate reports, General Motors, Ford and Chrysler are
expected to provide detailed plans that could touch on cutting
executives pay, refinancing debt, getting concessions from union
workers and possibly selling off some of their brands.
The heads of the Big Three say they won't use corporate jets to
get to Washington for congressional hearings later this week.
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