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GM, Ford and Chrysler Announce Restructuring Plans, Pay Cuts for Top Execs

A humbler group of auto executives returns to Congress this week, pledging to slash costs, including their own salaries, and to accelerate the design and construction of fuel-efficient cars if Congress coughs up tens of billions to bail them out. The CEOs of Detroit, who enraged Congress last month by showing up in private jets and holding tin cups, this time came with detailed plans they claim will save their foundering businesses. Added together, the separate proposals include $18 billion in... Full Story
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