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WASHINGTON - President Barack Obama is sending a blunt message to Detroit automakers: To survive _ and win more government help _ they must remake themselves top to bottom. Driving home the point, the White House ousted the General Motors chairman as it rejected GM and Chrysler's restructuring plans. Obama is set to elaborate on that message Monday when he announces what his White House told reporters over the weekend: Neither GM nor Chrysler submitted acceptable plans to receive additional federal bailout money. GM chairman Rick Wagoner became the most conspicuous casualty of that decision, forced out Sunday as the White House indicated Detroit must make management and other changes if it hopes to survive _ and that the Obama administration will have a hands-on role in those changes. Mich
Posted by:
mitch1976
30-Mar-2009 10:17
Source:
huffingtonpost.com
Type:
Media
Category:
Economy/ Fiscal Policy

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