GM asks for up to 18 billion in government loans (AFP via Yahoo! News)

General Motors said it could need up to 18 billion dollars in government backed loans, as it urged lawmakers to help it bridge the current economic downturn.

Big Three Automakers Make New Plea for Government Loans (HispanicBusiness.com)

As new reports showed that misery in auto dealers' showrooms worsened in November, Detroit automakers on Tuesday submitted detailed plans to Congress reinforcing their pleas for government loans totaling $34 billion.

Big Three automakers make new plea for government loans (Milwaukee Journal Sentinel)

In the restructuring plans they presented to Congress, the Detroit automakers stressed their commitment to building more fuel-efficient cars, to cutting costs by eliminating brands and dealerships, and to repaying the government loans by 2011 or 2012.

Chrysler to seek $7 billion in government loans (Lexington Herald-Leader)

Chrysler says that without a federal loan, its cash could fall below the minimum amount required to run the company in the first quarter of next year. The company said in a plan for federal loans delivered to Congress on Tuesday that it would seek $7 billion from the government by Dec. 31. It also says that CEO Robert Nardelli already gets a $1 per year salary from Chrysler and receives no ...

Ford Says CEO Will Work for $1 to Get Government Loans (FOX 2 News Detroit)

Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when the Detroit Three automakers' CEOs appear before lawmakers this week to request $25 billion in government loans. Ford CEO Alan Mulally said he'll work for $1 per year if the company has to take any government loan money.