GM & Chrysler (fact sheet and more from WH)

[ProSense]

Monday, March 30th, 2009 at 12:53 pm

GM & Chrysler

This morning the President announced that his Auto Task Force has completed its evaluation of the viability of General Motors and Chrysler in light of their requests for federal assistance. In addition to releasing the viability assessments, he also released a new policy with the American government guaranteeing warrantees for cars from those companies to ensure that if you have one it "will be safer than it's ever been":

• Fact Sheet on the New Path to Viability for GM & Chrysler (pdf) >>
  
• Warrantee Commitment Program Explanation (pdf) >>
  
• GM Viability Assessment (pdf) >>
  
• Chrysler Viability Assessment (pdf) >>

In the course of his remarks, the President pledged in no uncertain terms that he would not simply stand by and watch the American auto industry fail. He pledged to work with Congress on further action. And he made clear that the government has no interest in running these companies.

In broader terms, he laid out early what led to his decisions announced today, the bottom line being that the Task Force has determined the companies’ submitted plans to restructure simply do not go far enough:

more

[HiFructosePronSyrup]

1. Oh no! He's just like Bush!

:eyes:

[firedupdem]

2. I thought I read earlier that he was letting them fail and wiping out

the middle class? :eyes:

[HiFructosePronSyrup]

3. It's all his plan to destroy unions and the automobile.

Alexander Graham Bell, the father of the automobile, is rolling over in his grave.

[CakeGrrl]

4. Yes, he's destroying UAW, haven't you heard?

And he'll send the economy down, down, down...because he's just too damned clueless to do otherwise, or so some immediately assume.

:wtf:

I gotta take a break from reading all the reactionary stuff every time this administration lifts a finger to do anything.

70 days into a 4-year term...any chances some overworked fingers will cramp up before his first year is up? :evilgrin:

[Kdillard]

6. Yeah and I couldn't understand it. The posts you were reading was vastly

different from what was actually stated. Just makes you want to shake your head.

[HopeOverFear]

5. kick and rec'd

[Kdillard]

7. Kick . Sad there are not as many comments on this as the ones

accusing the Obama administration of letting the automakers fail and all sorts of nonesense. You would think people would be interested in the warranty program being introduced.

[chuckrocks]

8. WOW

most. expensive. warranty. evah.