Presidential Remarks on the U.S. Automotive Industry
President Obama spoke about the state of the U.S. automobile industry and announced limited additional federal assistance for troubled manuf… read more
President Obama spoke about the state of the U.S. automobile industry and announced limited additional federal assistance for troubled manufacturers. He also outlined further requirements for reorganization and restructuring by auto companies in order to receive federal aid. Noting that stakeholders had not done enough to relieve the companies of ongoing financial burdens, President Obama said that General Motors and Chrysler would be given an additional 60 days to present a viable business plan but may eventually face a structured bankruptcy. close
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