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Obama: A 'failure of leadership' led to GM, Chrysler problems

Post Time:Mar 31,2009Classify:Industry NewsView:185

Blaming “a failure of leadership from Washington to Detroit,” President Barack Obama delivered ultimatums today for General Motors Corp. and Chrysler LLC to enact deeper cuts or face collapse without government aid.

In a White House speech flanked by 12 of his economic advisers, Obama said today he was committed to the U.S. auto industry and its workers, comparing the industry’s decline to a natural disaster that deserved a federal response.

But he also made clear that the limits of federal aid to automakers was within sight, and that deeper cuts among workers, dealers, creditors and suppliers, along with a possible trip through bankruptcy court, would be needed for the automakers’ survival, according to a March 30 article in The Washington Post.

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Source: http://www.glassmagazine.com/news-item/auto/obama-a-failure-leadership-led-gm-chrysler-problemsAuthor:

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