WASHINGTON, Dec. 4  -- Plans for energy-efficient cars, fewer showrooms and shared sacrifice were aired Thursday by the three U. S. automakers seeking emergency funding from Congress.

Chief executives told the U. S. Senate Banking Committee that they needed bridge financing to help them whether tough financial times brought on by the swooning U. S. economy, telling the panel that they would agree to be subject to a decision-making, proactive, government-appointed board that the Government Accounting Office recommended.

All three auto executives pledged to cut costs and share concessions across all constituencies, as well as explain that they needed a bridge loan now to avoid potential collapse.

United Auto Workers President Ron Gettelfinger urged the senators to pass a bridge loan that includes strict accountability and the automakers' restructuring plans.

Senators also heard about what would happen if any of the three automakers fail.

"This is not a bailout," said James Fleming, president of the Connecticut Automobile Retailers Association. "This is an investment in the future of small towns and small businesses."

"Should one of the Detroit Three fail ... there will be an implosion," said Keith Wandell, president and chief operating officer of Johnson Controls, which provide components to automaker and aftermarket industries.

Mark Zandi, chief economist and co-founder of Moody's Economy. com, said the roughly $34 billion the automakers is seeking in bridge loans wouldn't be sufficient to avoid bankruptcy, Zandi said, estimating the figure would be between $75 billion and $125 billion.

Zandi urged lawmakers to provide the a bailout in two stages. The first distribution would be sufficient for the companies to "comfortably avoid bankruptcy" and the second dispersal should occur if automakers meet benchmarks. (UPI)