Detroit's Promises

Wednesday, December 3, 2008

GM, Ford and Chrysler proposed the following in return for a federal lifeline.

· Trim product lines: GM may part with Hummer, Saab and Saturn brands. Ford may put Volvo up for sale.

· Give up corporate aircraft at GM and Ford.

· Suspend dividends.

· Limit executive pay: CEOs would collect no more than $1 a year in salary.

· Shift vehicle offerings to include more hybrids and other fuel-efficient technologies.

© 2008 The Washington Post Company