Big Three CEOs Ready Game Plan

Updated from Tuesday, Dec. 2

The reception for the heads of General Motors(GM Quote), Ford (F Quote) and Chrysler may be better when they return to face Congress on Thursday, two weeks after the collapse of their first failed bid for a $25 billion industry bailout.

That's because changes have come in three critical areas. For starters, auto sales continued their dizzying drop in November. GM reported that its sales fell by 41%. Ford said sales slumped 31%, while at Toyota (TM Quote), sales slid 34%. Overall industry sales sank about 35% during the month, Ford estimated.

"Every manufacturer is posting awful numbers, and we are no exception," said Mark LaNeve, vice president, GM North America vehicle sales, in a prepared statement. "The consumer is scared and sitting on the sideline." ...