Detroit now seeks $39B rescue

12/3/2008 | Bloomberg Businessweek

The CEOs of the Big Three U.S. car companies have delivered their latest bailout request to Congress and are due to testify Thursday. This time, they're driving to Washington and are prepared to accept $1 salaries. Chrysler says it needs $7 billion or it will have to file for bankruptcy protection by the end of March. GM, requesting $12 billion in direct loans, provided a 30-page strategy blueprint that COO Fritz Henderson says will make it "cleaner, profitable, and fully self-sustaining."

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