KKTV - Economy - Headlines

Auto Industry Planning Carpool To Washington

By: Associated Press
By: Associated Press

The head of an auto parts company says there is talk about forming a car caravan to take the CEOs of Detroit's three automakers on their return trip to Washington to seek federal loans.

The CEOs were skewered on their first visit for flying in separate private jets.

Dura Automotive Systems CEO Tim Leuliette says the Detroit Three automakers, car dealers and the United Auto Workers discussed the carpool over the weekend.

Automakers say they need $25 billion in loans to help them survive the worst sales environment in more than 25 years. But their appearance before Congress last week was disastrous. Lawmakers have demanded restructuring plans by Dec. 2, with hearings to follow.


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