Detroit Big Three request $34 Billion

From Yahoo! Finance: Big Three Survival bailout requests rise to $34 Billiion:

Detroit's once-mighty automakers appealed to Congress with a retooled case for a bailout as large as $34 billion Tuesday, pledging to slash workers, car lines and executive pay in return for a federal lifeline. GM and Chrysler said they needed an immediate cash infusion to last 'til New Year's, and warned they could drag the entire industry down if they fail.

Chrysler LLC said it needed $7 billion by year's end, and General Motors Corp. asked for a quick $4 billion as just the first installment of as much as $18 billion to stay afloat and weather even worse economic storms. Ford Motor Co. had a more upbeat report, but the other two members of the U.S. Big Three painted the direst portraits to date -- including the prospects of shuttered factories and massive job losses -- of what could happen if Congress doesn't quickly step in.

Ford, in far better shape than GM and Chrysler, asked for a $9 billion "standby line of credit" to stabilize its business but said it didn't expect to tap the funds unless one of Detroit's other Big Three went bust. Its plan projected Ford would break even or turn a pretax profit in 2011.

All three auto companies proposed slashing workforce, facility, production; reducing management salaries, bonuses, cutting employee benefits; investment on fuel-efficient vehicles such as hybrid and electric cars. But bottom line we should not use taxpayers' money to save them. Are they really too big to fail?