From the New York Times write-up of the Big Three and their upcoming trip to D.C. Is anyone shocked to realize the number has increased from $25 billion to $34 billion in two weeks?
WASHINGTON – General Motors, increasingly desperate for a federal bailout to stave off financial collapse, told Congress on Tuesday that it was willing to drastically shrink every aspect of its operations to ensure its long-term survival.
On a day when the industry reported its worst sales month in 26 years, the three Detroit automakers delivered new business plans to lawmakers in hopes of winning support for $34 billion in federal loans and lines of credit.
And this time, Mr. Wagoner is scheduled to drive to Washington in a Chevrolet Malibu hybrid vehicle. Mr. Mulally was en route to Washington on Tuesday in a Ford Escape hybrid, and Mr. Nardelli was set to leave the Detroit area Tuesday night in one of Chrysler’s hybrid SUVs.
Are they clueless enough to think that this stunt will change things?
Also of note, Chrysler has cancelled its production of hybrid SUVs. Maybe Nardelli is driving to D.C. in the last one — like in the the final scene in Gung Ho, when Michael Keaton saves the plant?