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Big Three bailout


Washinton, D.C. (ABC) -- The big three US automakers are making a run for their money.

  The top executives of Ford, GM, and Chrysler are on a pilgrimage back to Washington, where they'll try again tomorrow to get a multi-billion  dollar bailout from congress.

  The big 3 auto industry CEOs are hoping second impressions are better than the first.

  They're driving to Capitol Hill in fuel-efficient cars, as opposed to flying on jets, to ask for a $34 billion dollar lifeline-- an increase from the 25-billion in government aid they originally requested.

  The companies say chapter 11 is not an option. 

  Fritz Henderson, President of General Motors, said, "no, a couple of things. First, in order to run a bankruptcy, you still need cash and, second, the most important thing actually from our perspective, we need to sell cars and trucks one at a time to consumers and we want them to be confident."

  But some lawmakers are skeptical.

  South Carolina Representative (D) James Clyburn said, "we need to have new leadership. That's what we would do if we had this kind of failure on a football field. We would be getting a new coach."

  The automakers have provided detailed business models demanded by Congress.

  They include: developing more fuel efficient vehicles, reducing CEO salaries and cutting thousands from their payrolls.

  Rebecca Lindland, senior automotive analyst, said, "they need to show that they have cut all the way to the bone, that they made every effort to find every possible dollar."

  The CEOs of Chrysler and GM are still en route to Washington.

  Ford's top executive is said to already be here.

  All 3 are expected to testify before Congress Thursday.

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