A year ago, Republicans and conservatives were criticizing the Obama Administration for intervention in the auto industry, which many considered nearly dead and not worth saving!
Now, a year later, there have been six months of improved conditions in the auto industry and profits are being made, and it is obvious that President Obama did the right thing in deciding to assist General Motors and Chrysler!
Many failed to realize that it was not just the auto industry itself that was at stake, but also many allied industries that would have suffered a complete collapse if the auto companies had not seen federal intervention to keep them alive and kicking!
While the Michigan and Midwest unemployment rates are still very high, the fact of signs of improvement is a testimonial to the fact that the Obama Administration did the right thing in deciding to help keep the auto industry alive! So congratulations, Mr. President! 🙂
You should have read this SigTarp Report (10-008) before writing this article:
http://www.sigtarp.gov/reports/audit/2010/Factors%20Affecting%20the%20Decisions%20of%20General%20Motors%20and%20Chrysler%20to%20Reduce%20Their%20Dealership%20Networks%207_19_2010.pdf
Let’s not forget that Ford Motor (FMC) actually saw this coming and FMC positioned itself perfectly – they did not require any Federal Government Assistance – at all.
It is a testimony to their leadership!
Perhaps, Mr. Obama and Mr. Geithner could learn something from FMC in the way of Financial Leadership and Financial Responsibility.
Congratulation, very nice to know this, thank you for helping the auto industry Mr. President
Glad to hear. Mr. Presedent really love cars. Hope to support energy conservative cars in the future.
It’s good to read your site again; I see some interesting updates here.