Last week, the CEOs of Detroit’s “big 3” automakers made their second trip to Washington to plead for government support in the form of a multi-billion dollar bailout. In their first trip to Congress in November the CEOs were sent back home with their tails between their legs – having flown to Washington on individual corporate jets and without any specific plans as to what they would do with the billions in taxpayer dollars they were seeking. This time around the three auto industry leaders all drove hybrid vehicles and arrived with written plans for what they intended to do with the money.
Read the three plans submitted by Chrysler, General Moters, and Ford. And after that you may be interested in the very wealthy and well connected private firm, Cerberus, that owns a chunk of Chrysler. You can start with this article here. Many speculate that Cerberus will recognize quite a profitable windfall if Chrysler were to be bailed out and then sold in the future.
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