Detroit's Big 3 May Not Benefit From Union Gesture as Automakers Hit Washington
Despite concessions from autoworkers to delay billions in payments to their health care fund for retirees and make changes to its job bank, the auto industry bailout faces an uphill battle in Congress.
The CEOs of automakers General Motors Corp., Chrysler LLC and Ford Motor Co. arrived in Washington for hearings Thursday, hoping to convince Congress to pass their $34 billion plan to prevent bankruptcy for their companies and potential long-term consequences to the economy.
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