General Motors Corp. (GM) and Chrysler LLC presented their highly anticipated restructuring plans yesterday (Wednesday), but said they would need as much as $22 billion in additional federal aid to keep their turnaround efforts from stalling.

Ford Motor Co. (F) insists it can survive through 2009 without federal loans despite a $5.9 billion fourth quarter loss and burning through over 40% of its cash on hand. 

The U.S. “Big Three” of General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp. submitted their turnaround plans to Congress yesterday (Tuesday), hoping for approval of a massive loan package they say is central to their survival.