April 29, 2009 9:15 PM

Obama: "I Don't Want To Run Auto Companies"

By
Stephanie Condon
Topics
100 Days Analysis
(AP)


President Obama during his prime time news conference Wednesday night said he is hopeful Chrysler will remain a viable company--and that the federal government will be able to remove itself from the auto industry.

"I don't want to run auto companies, and I don't want to run banks," Mr. Obama said. "I've got two wars I've got to run already--I've got more than enough to do."

Chrysler faces a government-imposed deadline to finalize a partnership with Fiat SpA by this Thursday.

"I am more hopeful than I was 30 days ago that we can see a resolution," Mr. Obama said with respect to the deal, though he noted that the "clock is ticking."

The president said deals reached with Chrysler's major debtholders and sacrifices from labor unions improved the automaker's outlook for survival.

"The details have not yet been finalized, but I'm feeling more optimistic than I was about the possibilities of that getting done," Mr. Obama said.

He said, however, that it was "prudent" for Chrysler to prepare contingency plans, including filing for bankruptcy. Given the concessions made by debtholders, Mr. Obama said, it would be likely the company could emerge from bankruptcy proptection quickly.

The president said he saw potential in companies like General Motors, in spite of the fact that the current recession simply added onto the problems faced by an already-weak industry.

"I've always said GM has a lot of good products, and if they can get through these difficult times, they can emerge a strong, competitive viable company," he said.

Mr. Obama also added he would like to see the government extracted from auto business as quickly as possible. It is his responsiblity, he said, to ensure taxpayer dollars "are aimed not at short-term fixes that continue these companies as wards of the state."

He added that workers, as well as company stakeholders, will benefit from the government's assistance in the industry.

"We're going to be coming behind whatever plan is in place to make sure the federal government is providing as much assistance as it can to make sure people are landing back on their feet as we strengthen core businesses," he said.

Obama's First 100 Days


Add a Comment See all 40 Comments
by johnsmith508 June 14, 2010 3:25 PM EDT
yes, I agreed.
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johnsmith
<a href="http://bestforddealer.com">Best Ford Dealer</a>
Reply to this comment
by Trust_me_ April 30, 2009 11:57 PM EDT
Maybe a fly over in AF1 will get you all in line huh?
Reply to this comment
by Trust_me_ April 30, 2009 11:54 PM EDT
Would you really want to buy a car made at Muslim Motors , made by the UAW?
Reply to this comment
by Trust_me_ April 30, 2009 11:51 PM EDT
Obama couldnt run a printing press but it seems his communistic friends can.
Reply to this comment
by Trust_me_ April 30, 2009 11:49 PM EDT
mcthreeteeth

You still on the goverment payroll?
Reply to this comment
by dhutch88 April 30, 2009 1:14 PM EDT
Hell you dont want to run the country either.
Reply to this comment
by jonesjep April 30, 2009 11:32 AM EDT
"The new car company controled by people that know what they are doing,Pelosi, Reid Geithner and side kick Obama, it will be called Oprah Motors."
..........................

What a Liberal car company would produce. It will claim to get 50 mph but will only get 15 but nobody will know because we will have to change to the metric system to please the Europeans. It will cost $100,000 but you will get a $300 tax credit. They will be 3 years behind schedule in production due to environmental reviews. Due to political correctness the tires will no longer be allowed to be black. It will not have AM on its radio because of the "Fairness Doctrine". When you sign for the car you are also signing as a new member of the UAW. It will have connectors for your child's car seat but because of their Civil Rights and you no longer having Parental Rights they will have to enter a special permission code before you are allowed to strap them in. The upholstry will be made out of hemp.
Reply to this comment
by jonesjep April 30, 2009 11:21 AM EDT
He says he does not want to run the automotive companies and the banks but he is neck deep in both. And neither is doing better with his involvement.
Reply to this comment
by specialty8 April 30, 2009 10:50 AM EDT
The new car company controled by people that know what they are doing,Pelosi, Reid Geithner and side kick Obama, it will be called Oprah Motors.
Reply to this comment
by hungry1968-15 April 30, 2009 10:07 AM EDT
mcthreeteeth

I am one of the original Teabaggers too, Is that ok with you?

or do you feel you have to control me?
Posted by Trust_me_ at 7:02 AM : Apr 30, 2009





How much Listerine did it take to get the taste out of your mouth?
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