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For U.S. Auto Execs, It’s A Working Thanksgiving Weekend - 11/27/08Submitted by Doug Cunningham on November 26, 2008 - 5:13pm
What will the CEOs of the big three automakers be doing this Thanksgiving weekend? Jesse Russell reports. Working on a plan to convince Congress they deserve a $25 billion loan. The automakers will return to Washington on December 2 and in order for the new plans to pass muster they need to include pay cuts for executives, commitments to higher fuel efficiency standards and union concessions. One option the three automakers are looking at is paying executives only $1 per year. There will be two parts to the plan that is unveiled to members of Congress. A 12-page summary that will be made available to the public, but also a 100—page confidential document that could include detailed looks at top secret research, development, and product roll out schedules. |
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