AP - President-elect Barack Obama pledged quick work Tuesday on an economic recovery plan to include tax cuts and increased federal spending, and told the nation's governors he wants their advice in designing a package to help their hard-hit states.

AP - Wall Street rebounded Tuesday, regaining some of the ground lost in the previous session's huge drop, as the potential for a bailout of the beleaguered auto industry helped calm investors. The Dow Jones industrials rose more than 225 points, regaining a third of Monday's nearly 680-point plunge.

AP - Ford's U.S. light vehicle sales tumbled 31 percent in November, while Toyota's plunged 34 percent and Honda's dropped 32 percent, dashing hopes that the industrywide drop in vehicle demand might be easing as Detroit's automakers prepare to state their second case for a federal bailout.

AP - Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when the Detroit Three automakers' CEOs appear before lawmakers this week to request $25 billion in government loans. Ford CEO Alan Mulally said he'll work for $1 per year if the company has to take any government loan money.

AP - Ford Motor Co. is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it.