The Detroit 3 are pushing hard for $50 billion in low interest loans to keep factories running, build new ones and create alternative powertrains. Presidential candidate Barak Obama has already endorsed $50 billion in loans and Republican nominee John McCain has signed on for $25 billion in loans already guaranteed in the 2007 energy bill. If Ralph Nader were elected to office (won't happen), he would be against such a loan. Nader told a group of supporters in the Detroit area that "tax payers should not be played for a sucker," and that decades of bad decisions by automakers means that no such government assistance is deserved.

GM spokesman Greg Martin countered that Nader was basically a non-entity in the big picture, pointing out that the loan would help quickly get more fuel efficient vehicles on the road. U.S. Rep. Joe Knollenberg from Michigan remarked that Detroit automakers could be paying 15-20% in interest rates without the government loan, which would be pegged at 4-5%. We're not experts on the subject, but we're pretty sure a loan with a 20% interest rate is a bad idea, and it's not the kind of rate you want to pay if you're competing against Toyota.

What's another $25 billion between friends? That's the argument General Motors, Chrysler and Ford's Congressional lobbyists will be making in the next few months for a $50 billion loan from the federal government.

Originally, Detroit's Big Three were after $25 billion in loans from the Feds, but after lawmakers authorized a loan in last year's energy bill, the domestics now want Congress to grant loans up to $50 billion over the next three years.

The loans would carry an interest rate of around four to five percent, with $25 billion being available in the first year, another $15 billion in the second year and the final $10 billion in the third.

GM, Ford and Chrysler contend that the low-interest loans would be used to build more fuel-efficient vehicles, including hybrids and electrics, thus reducing the U.S.'s dependency on foreign oil, not to mention making all three automakers more competitive in a market that no longer favors big trucks and SUVs.

Mark Fields, Ford's President of the Americas, likens the bailout loan to the recent financial support granted to Bears Stearns, Fannie Mae and Freddie Mac from the Feds, saying, "This is not about benefiting Wall Street. This is benefiting Main Street, the working men and women."

Chrysler has unveiled a few plans for the future and, rather than using past successes to carve the path, will adapt its course according to the changing market. While speaking at the recent Western Automotive Journalists' dinner, Chrysler President Jim Press touched on the need to generate brand identity amongst Jeep, Dodge and Chrysler. While each brand currently has a core theme, Jeep – off-road, Dodge – volume and performance, Chrysler – affordable luxury, there have been many recent deviations, such as the conglomeration that is the Jeep Compass. Press hopes to put an end to that trend and focus the company's aim at the automotive enthusiast. Toyota can keep the automotive appliance title, Press wants Chrysler to appeal to drivers rather than consumers.

Nevertheless, actions speak louder than words and Press backs up his claims through the current curtailing of vehicle production and the scheduled release of seven new vehicles come 2010. Like other manufacturers, Chrysler is aggressively pursuing alternative powertrain configurations, particularly electric drive. In case no one has noticed yet, 2010 will be a big year for the American automotive industry. It will be the point when the roller coaster ride reaches its end and some folks end up with motion sickness while others get a rush of adrenaline. Hopefully Chrysler can find themselves in the latter category.

The Dodge Viper has been Chrysler's halo car since it was introduced back in 1992, but times are tough. Faced with the fact that it might not be able to continue making the brutish sports car, the Auburn Hills-based automaker is reportedly considering doing something that's never been done before by a domestic automaker (as for as we know): selling the Viper's future to a third party. Automotive News quotes Chrysler CEO Bob Nardelli saying, "We have been approached by third parties who are interested in exploring future possibilities for Viper." Nardelli claims that whatever happens, his company will work to make sure the best interests of Viper fanboys are served and that Chrysler would continue to offer "operational and financial" support for the car if a transaction takes place. We're honestly a little stunned that Chrysler would consider such a drastic action, though if it means the Viper won't be sacrificed at the altar of economic woes, we're all for it. On the other hand, how does one separate Dodge from the Viper? Can you imagine Ford selling the Mustang to ROUSH or GM selling the Corvette to Lingenfelter? Chrysler has not identified any of the Viper's suitors, so rather than a familiar tuning house, it could also be a conglomerate of investors or another automaker. Is a Viper sold by another brand still a Viper?

No matter how you slice it, a proposed $25 billion loan from the Feds is a bailout, and that's exactly what Detroit's Big Three automakers are after, according to a report by the Wall Street Journal.

Lobbyists for General Motors, Chrysler and Ford have met with White House officials, Rep. John Dingell and a smattering of Michigan Democrats to discuss the loan, with plans to unveil the proposal after Labor Day.

The plan includes lending $25 billion to automakers in its first year at an interest rate of 4.5 percent (about one-third of what the companies are currently paying), with the government having the option to defer any payment for up to five years.

Details are scarce, and naturally, GM, Ford and Chrysler reps aren't saying much, but if the automakers and the Feds are serious, expect more information to leak out before the proposal is officially announced.