Tue, March 31, 2009

Obama's tough auto plan

Obama unveils plan to help U.S. auto industry

U.S. President Barack Obama announced Monday a plan to help the nation's struggling auto industry restructure for the future, preventing its "sudden collapse." Full story


Obama's auto industry remarks

Following is the full text of President Barack Obama's remarks about the auto industry on Monday.


Is there still a great chance for the major automakers to be put through bankruptcy?
Not sure.


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Obama asserts gov't control over the auto industry

2009-03-31 10:00:06 GMT SINA.com WASHINGTON – President Barack Obama asserted unprecedented government control over the auto industry Monday, bluntly rejecting turnaround plans by General Motors Corp. and Chrysler LLC, demanding fresh concessions for long-term federal aid and raising the possibility of quick bankruptcy for either ailing auto giant.

Auto workers, union leaders critique Obama plans

2009-03-31 00:56:42 GMT SINA.com WARREN, Mich. -- Chrysler workers were critical Monday of President Barack Obama's rejection of automaker turnaround plans and looked to a proposed Chrysler partnership with Italy's Fiat SpA as their company's last chance to survive the industry downturn.

Top US senator welcomes Obama auto moves

2009-03-31 00:45:39 GMT SINA.com WASHINGTON – A top US senator Monday praised President Barack Obama's "firm resolve" in dealing with ailing US automakers but warned of more "painful" moves ahead to save the battered industry as a whole.

GM CEO exit 'has no impact' on China business

2009-03-31 00:43:26 GMT China Daily The forced removal of General Motors' CEO Rick Wagoner by the Obama administration will have no impact on the company's business in China, GM China said yesterday.



Analysis: Obama tougher on autos than banks

2009-03-31 10:08:20 GMT SINA.com WASHINGTON -- President Barack Obama is dealing with the beleaguered auto industry more sternly than he has with bailed-out banks and insurers as he takes the nation another step into uncharted government regulation of industry.

With autos, Obama expands government's role

2009-03-31 10:02:13 GMT SINA.com WASHINGTON -- President Barack Obama's extraordinary auto industry intervention is assertive and coldly pragmatic, with a dose of caution and a sentimental nod to the automobile's place in the American psyche.

Can Obama's tough medicine save ailing U.S. automakers

2009-03-31 08:59:40 GMT Xinhua English CHICAGO, March 30 (Xinhua) -- The U.S. government rejected Monday the turnaround plans of General Motors Corp (GM) and Chrysler LLC but gave them a dose of tough medicine -- 60 more days to develop more sweeping restructuring. However, Auto experts believe the automakers still face an uncertain prospect although their potential for survival in such a hard time exists.

Frustrated Americans cheer Obama's tough auto moves

2009-03-31 01:05:07 GMT SINA.com Some frustrated U.S. taxpayers cheered President Barack Obama's tough steps to shore up the reeling auto industry on Monday but critics called his decision to fire General Motors' chief a heavy-handed power grab. Skip related content

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Business Update: Auto worries

2009-03-31 08:10:55 GMT Reuters U.S. stocks suffered their biggest one-day drop since early March after worries about the auto and banking sectors capped a recent rise in investor sentiment.

Obama hits the brakes on autos

2009-03-31 08:09:25 GMT Reuters US President Obama offered tough medicine to the ailing US auto industy -- providing new rules of the road going forward.

Obama rejects GM, Chrysler plans

2009-03-31 08:07:37 GMT Reuters US President Obama rejects survival plans from automakers, warning ailing automakers they could be forced into bankruptcy if they do not slash debt.

GM CEO resigns

2009-03-31 08:05:12 GMT Reuters General Motors Chief Executive Rick Wagoner resigns under pressure from the Obama administration.