The chiefs of the "Big Three" US automakers travel to Congress today to plead with lawmakers to save their talismanic American industry, despite fading hopes for a quick congressional bailout.
The chairmen and CEOs of General Motors, Ford and Chrysler will testify to the Senate Banking, Housing and Urban Affairs Committee as Democrats mount a long-odds bid to pass a $25 bn rescue package.
Their testimony, to be followed by an appearance before a House of Representatives panel tomorrow, comes with millions of jobs threatened as the industry's crippling losses are exacerbated by the deepening economic crisis.
Ford CEO Alan Mulally, Chrysler boss Robert Nardelli and Richard Wagoner of General Motors will testify to the committee, under the chairmanship of Democrat Chris Dodd who has already cast doubt a bailout can pass this week.
Democratic Senate leaders Congress opened a "lame duck" session yesterday vowing to fight for a new $25 bn loan program for the auto industry.
Senior party members condemned the reluctance of the White House and Republican leaders to siphon off the money from a $700 bn finance industry bailout which has already been approved.
Senate Majority leader Harry Reid hit out at Treasury Secretary Henry Paulson for refusing to adapt the huge bailout to aid the auto industry, on which millions of jobs depend.
"All it would take is one stroke of a pen and that problem would be solved," Reid said, as he opened the Senate lame duck session.