Auto CEOs take bailout plan to Congress - WSFA.com Montgomery Alabama news.

Auto CEOs take bailout plan to Congress

The November car sales numbers are out and they're more bad news for a U.S. auto industry that's facing collapse.

Ford Motor says it might not need a government bailout. 

But, just in case, the bosses of Ford will join the leaders of GM and Chrysler in Washington, this week, to ask again for federal help. 

And this time the CEO's are driving to Capitol Hill.
 
They're ditching their big jets and their huge salaries.

The bosses of the big 3 say if you don't believe they need a bailout look at their latest sales figures.
 
The numbers are dismal!   

Ford light vehicle sales down 31% in November!!  Ford hopes to hang on.

But General Motors sales were off 41%!!   The worst in half a century!  

GM and Chrysler face immediate bankruptcy, 

That many call unacceptable.

"Bankruptcy would be too big a problem for too many, tens of thousands, hundreds of thousands of workers, too many communities," said Democratic Senator Sherrod Brown of Ohio.

But the bosses of the big 3 carmakers got hammered by Congress two weeks ago when they asked for a 25 billion dollar bailout.

"My fear is that you're going to take this money and make the same stupid decisions you made for 25 years," Democratic Congressman Michael Capuano of Massachusetts said on November 19th.

The CEO's had flown in on corporate jets

"Couldn't you all have downgraded to first class, or jet-pooled or something?" asked Democratic Congressman Gary Ackerman of New York.

On Tuesday, Ford CEO Allan Mulally headed back to Capitol Hill in a hybrid.

"Going back to the car, I'm looking forward to driving today. I think that we do get it," said Mulally.

Mulally says he'll sell Ford's jets and cut his compensation to a dollar a year if Ford needs the 9 billion it's requesting.

Chrysler's bosses want 7 billion.

Powered by Frankly