Obama puts onus on U.S. automakers for plan

[Omaha Steve]

http://www.freep.com/article/20090211/BUSINESS01/90211099/1014/Obama+puts+onus+on+U.S.+automakers+to++get+me+a+plan+that+works

By TODD SPANGLER • FREE PRESS WASHINGTON STAFF • February 11, 2009

WASHINGTON – President Barack Obama says he remains committed to giving the domestic auto industry “serious help” in the future, but only if it proves its longtime viability and makes the changes necessary to turn the business into a profitable one going forward.

In that vein, he said he’s awaiting plans from Chrysler LLC and General Motors due to the government next Tuesday to justify a $17.4-billion loan to the two automakers about how they expect to transform their businesses.

If they are realistic, he said, more government help could be in the offing. If not, he said, “Then we’re going to have to ask them to go back to the drawing board.”

“Get me a plan that works,” the president said.

Obama’s remarks came in a wide-ranging White House interview with the Free Press and about a dozen reporters from elsewhere. While talking little of the specifics in a deal apparently reached by Democratic negotiators on a $789-billion economic stimulus plan, he still called for a quick resolution to the legislation, reiterating his belief that the economy will continued to tank without it.

Other subjects he dealt with included a “buy American” provision in the stimulus bill, saying that while he believes the U.S. is sometimes more open to imports than its trading partners are, policymakers must be careful not to send an isolationist signal – “a natural instinct” in times of deep economic turmoil at home – that will further hurt sales of exports.

FULL story at link.

[madrchsod]

1. well ford`s ready to roll and so is chevy....

but people have to have money to buy them.