Local auto workers react to Big 3 plan

INDIANAPOLIS (WISH) - Tuesday was deadline day for automakers. The Big 3 gave their business plans to Congress so lawmakers could consider a rescue package.

GM leaders said the company needs $4 billion in government loans in December and $12 billion by late March to keep operating. Local managers and Union leaders talked about what they're doing to try to save the company.

James Kendall, Indy's UAW president, admits his members are worried.

"Everybody's pinching pennies and trying their best to get by along with the company...to save money daily," said Kendall.

Analysts said saving GM and its counterparts will take deep concessions from executive compensation to Union wages. But they'll likely be asked for far more.

Kendall is joining local UAW presidents in Detroit for an emergency meeting on Wednesday.

"First off, I think both sides are working very well together in these very difficult times," said Kendall.

Jeff Haynes is the plant manager at GM's Indianapolis facility. He said the company's proposal presented to Congress on Tuesday includes pay concessions, aggressive development of alternate fuels, stock ownership offers and accountability.

He stresses the bill being considered is a loan, not a giveaway.

More details of GM's plan for profitability include: the company CEO offering to work for a dollar a year, focusing on just four brands, cutting at least 20,000 workers and close nine facilities by 2012.