Despite fine-tuned sales pitch to Congress, Big 3 returning home empty-handed

The World

Despite a fine-tuned sales pitch to Congress, the Big Three automaker are going back to Detroit empty-handed. It’s becoming less and less likely that General Motors Corp., Ford Motor Co. and Chrysler LLC will claim a $25-billion chunk of the $700 billion Wall Street rescue package. Democrats nixed the idea of voting on the proposal — why help a flawed industry? — to the dismay of the White House and congressional Republicans who believe a quick bailout is the only way to save the cash-hemorrhaging car companies and the estimated 2.5 million jobs at stake should one of Detroit’s Big Three break down. GM and Chrysler have said they may not make it to the end of the year. Congress could revisit the proposal in early December.

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