Big Three fine-tune aid pitch [View All]

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Source: Detroit News

Wednesday, November 26, 2008
Big Three fine-tune aid pitch
Executive pay cuts, better fuel economy high on list; UAW concessions are possible
David Shepardson / Detroit News Washington Bureau

WASHINGTON -- Detroit's Big Three automakers worked furiously behind the scenes Tuesday to craft beefed-up restructuring plans that outline more cost cuts and other tough measures to convince Congress to approve a $25 billion bailout.

The plans will detail efforts to slash expenses, cut executive pay and improve vehicle fuel-efficiency. They also could include new sacrifices from hourly union workers and holders of the automakers' more than $100 billion in combined corporate debt.

Ford Motor Co. Executive Chairman Bill Ford Jr. told NPR on Tuesday that the company's board of directors is reviewing CEO Alan Mulally's compensation.

"We're talking to Alan about it," Ford Jr. said. "We are very sensitive to public opinion and that's something we're on top of."

Read more: http://www.detnews.com/apps/pbcs.dll/article?AID=/20081126/AUTO01/811260378/&imw=Y