Transcript: President Obama Remarks on Auto Industry, Chrysler Bankruptcy, Fiat – April 30
Chrysler – New Lease on Life
(Source: White House Press Office)
THE PRESIDENT: Hey, guys. I know you haven’t seen enough of me lately, so — (laughter.)
One month ago, I spoke about some of the problems that have led to the crisis in the auto industry, and about what would be required to ensure that General Motors and Chrysler emerged from their current troubles stronger and more competitive. My team will continue working with General Motors as they strengthen their business plan and move towards restructuring that’s consistent with the principles that I’ve laid out.
And today, after consulting with my Auto Task Force, I can report that the necessary steps have been taken to give one of America’s most storied automakers, Chrysler, a new lease on life.
The Daily Graphic: U.S. Auto Industry’s Presence by State (Interactive Map)
From USA Today comes an interactive map of the U.S., Auto Industry Touches Every State. Click the image below to go check it out.
GM: Bankruptcy “Now more probable …”
From NYT live blogging of Fritz Henderson, GM’s new CEO, press conference this a.m.:
In his strongest language of the news conference, Mr. Henderson says bankruptcy is now “more probable” for G.M. than in the past. Mr. Henderson said circumstances may drive G.M. into bankruptcy “as the strategy that we need to deploy.” He said, “If I didn’t want to be part of a bankruptcy, I would have said, no, I don’t want to be part of it.” He said he was asked to do the job and make G.M. successful, whatever it takes.
Full Text: President Barack Obama Statement on GM & Chrysler Bailout Status – Auto Task Force – March 30
(Source: White House Press Office)
Good morning, everybody.
One of the challenges we’ve confronted from the beginning of this administration is what to do with the state of the struggling auto industry. In recent months, my Auto Task Force has been reviewing requests by General Motors and Chrysler for additional government assistance, as well as plans developed by each of these companies to restructure, to modernize, and to make themselves more competitive. Our evaluation is now complete. But before I lay out what needs to be done going forward, I want to say a few words about where we are and what led us to this point.
The Daily Graphic: The Big Three’s Dashboard Indicators in the Red
Great graphic from the New York Times. Go read the story, U.S. Moves to Overhaul Ailing Automakers.
The Daily Graphic: Auto Parts Manufacturing Employment
The U.S. Dept. of Treasury announced an auto supplier support program on Thursday. In looking around the web for a picture of employment in the U.S. auto parts industry I found this at the website for the Cleveland Federal Reserve Bank.
