Word: plan
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...guzzling trucks and SUVs even as oil prices soared and given its union unsustainably generous deals on salary and benefits. "I don't believe this is a good idea, to take $25 billion and give it to the three major car companies, which I think have a business plan that's doomed to fail," Senator Lindsey Graham, a South Carolina Republican, told Fox News Sunday, adding that Republican members are not wild about the Democrats' demand that the Big Three present their plans to Congress. "The idea that you would take three failed car companies, bring [a plan...
...three car companies since October, the Obama aide said. The talks consist of phone calls, e-mails and meetings, and the companies have given a PowerPoint presentation on their internal financials. "We're not negotiating with the auto companies. We're not saying to them, Here's our plan," the Obama aide said. "We're just trying to listen and understand and study a range of options so that we're ready to move quickly and immediately...
...What's unclear is if the Big Three, particularly GM, can last that long. Ford said in the recovery plan it submitted Tuesday that it can survive through 2009 without a loan - provided neither one of its two competitors goes bankrupt and drags down the industry's entire supplier network. But Chrysler asked for $7 billion in loans, and GM said it would need $4 billion by the end of this month and upwards of an additional $14 billion next year to survive. All told, the companies have asked the Federal Government for $34 billion (including a $9 billion emergency...
...want to take a look at their plans in detail and see if they meet a credible test for viability," deputy press secretary Tony Fratto said. "We're pleased to see that everyone is now on board with what we've been saying for some time: that a credible plan for financial viability is necessary if we're even to consider taxpayer assistance...
...pledged to consolidate its sprawling number of brands (focusing on Chevrolet, Cadillac, Buick and GMC), cut more than 20% of its remaining jobs, shutter almost a quarter of its factories and try to reduce crippling labor costs by reopening negotiations with the United Auto Workers. Ford, in its plan, stated that it would roll out all-electric models within two years...