Mar 30 2009
Obama Tells GM, Chrysler To Get Ship Corrected Now
It would be hard to think about no GM or Chrysler, but that is a possibility if they do not right their ships very quickly. President Obama has told both companies that he is not giving them a blank check to do what they want at taxpayers expense. The administration even forced GM hands as CEO Rick Wagoner resigned over the weekend. Chrysler has formed a deal with Fiat which is something the administration said needed to be done.
I will admit that both of these companies have made some very bad decisions and you cannot expect the taxpayers to bail them out forever, but the bottom line is it goes much deeper then these two companies. Everyone in the United States is hurting and sometimes I do not think the administration understands this. Losing GM and Chrysler effects so many people that you cannot really afford to lose them. I do not see them going under at all in fact it would not surprise me to see them get bought up by another company.
