GM seeks $18B to survive; Ford wants $9B just in case; Chrysler asks $7B

General Motors has put a price tag on its life: $18 billion in taxpayer assistance.

For its part, Ford wants $9 billion as a safety net but says it might not need to use it. A more detailed plan is in the works.

In its rescue plan to Congress, GM warns of "severe, long-term consequences to the U.S. economy" if it is allowed to fail.

GM said it wants $12 billion in loans — $4 billion by the end of December and a total of $10 billion to $12 billion by late March. It also seeks a separate $6 billion lifeline of credit if things get worse.

As part of its plea for taxpayer help, GM would cut jobs, close factories, eliminate brands and slash executive pay. GM and Ford announced that their CEOs would collect a salary of $1 a year if their companies use the loan money. Chrysler's chief also has said he would work for $1 in exchange for federal help.

"Absent such assistance, the company will default in the near term, very likely precipitating a total collapse of the domestic industry," GM said. It contends that its collapse would have "a ripple effect that will have severe, long-term consequences to the U.S. economy."

"There isn't a Plan B," said Chief Operating Officer Fritz Henderson.

GM lays out the highlights of its plan.

The auto honchos are to make their pitches to congressional committees Thursday and Friday. After being publicly scorned for having arrived at earlier hearings in their private jets, the CEOs are driving to the capital from Detroit in new fuel-efficient cars. Their companies say that will save more than $15,000.

The The New York Times and Washington Post have more.