The Big Three submitted their plans to automakers yesterday and outlined what kind of cash is needed. It’s not good. Ford is on a relative easy street. The company asked for up to $9 billion in short-term loans that it would access sometime next year. GM and Chrysler, however, are teetering on the edge of bankruptcy. By the end of this month, both companies need billions of dollars to stay afloat. GM asked for $4 billion and Chrysler a staggering $7 billion. The most ominous comment came from GM’s president and chief financial officer Fritz Henderson “There isn’t a Plan B”. —Larry Webster RELATED STORIES• BAILOUT BLOG: U.S. Auto Industry on the Brink• PLUS: Why America’s Largest Car Company Teeters on the Edge• GALLERY: 10 Cars That Damaged GM’s Reputation (With Video!)• ANALYSIS: A Sad, Spooky World Without GM and Chrysler• COMPLETE COVERAGE: PM’s Auto Experts Track the Ongoing Situation
