Big 3 beg, but bailout denied
CEOs are told they must do better
Published: Fri, Nov. 21, 2008 04:34AM
Modified Fri, Nov. 21, 2008 04:39AM
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closeThe CEOs of Detroit's Big Three have been given 12 days to return to Washington with a better sales pitch.
Democratic Congressional leaders on Thursday said that the executives had failed to persuade Congress or the public that $25 billion in aid from the government would be well-spent.
House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid said at a news conference that any legislative proposal put to a vote this week would fail, and they leveled scathing criticism at the executives.
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Detroit's drama will ripple into North Carolina, too: About a quarter of its manufacturing jobs are tied to motor vehicles.
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