Big Three Automakers’ CEOs Flew Private Jets to Plead for Public Funds

By Brian Ross and Joseph Rhee
ABCNews.com
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The CEOs of the big three automakers flew to the nation’s capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.

All three CEOs – Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler – exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM’s $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone…

Toyota promises plug-in hybrid vehicle by 2010

By YURI KAGEYAMA |AP Business Writer
12:33 AM CDT, June 11, 2008
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TOKYO – Toyota is introducing a plug-in hybrid with next-generation lithium-ion batteries in Japan, the U.S. and Europe by 2010, under a widespread strategy to be green outlined Wednesday.

The ecological gas-electric vehicles, which can be recharged from a home electrical outlet, will target leasing customers, Toyota Motor Corp. said. Such plug-in hybrids can run longer as an electric vehicle than regular hybrids, and are cleaner.

Lithium-ion batteries, now common in laptops, produce more power and are smaller than nickel-metal hydride batteries used in hybrids now.

The joint venture that Toyota set up with Matsushita Electric Industrial Co., which makes Panasonic products, will begin producing lithium-ion batteries in 2009 and move into full-scale production in 2010, Toyota said.

Toyota also said it’s setting up a battery research department later this month to develop an innovative battery that can outperform even that lithium-ion battery…

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