Obama issues ultimatum to US car makers - 31 Mar 09

Barack Obama, the US president, has ordered General Motors, America's largest car maker, and the smaller Chrysler group to restructure or face bankruptcy.

The move comes after the White House ordered Rick Wagoner, the head of GM, to step down, but that decision has left some wondering if the industry is being held to a higher standard than the financial sector.

Al Jazeera's John Terrett reports from New York.

Category:

News & Politics

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• al jazeera
• aljazeera
• john terrett
• auto
• car
• obama
• economy
• gm
• chrysler
• bankruptcy

[hootchy]

Now the Chinese can buy up GM at 10 cents on the dollar financed by the US Treasury. The US is being sold off-doesn't anyone see this?

[fahs]

How about Obama get rid of his limos and ride around in the same tin cans he'll makes us drive? Oh wait, he is President and he is special..... When it comes to being American, politicians should live by the same standards the rest of us do.

[darija090]

okkkkkkkkkkkkkkkkkkkkkkkkkkkkk­kkkkkkkkkkkkkkkkkk

[runalonglilone]

damn i am so glad chrysler"s top lenders did not fold to the smart ass threats from this clown that is soon going to find out what laughing about tea partys gets you.this is the most arrogant,life threatning administration.and sadly after each town hall scripted blurbering it gets even worse. i will say one thing.they certainly have abolished torture.they abolished it right out of the hands of the deserving right into the living rooms of main stream america, applauds to those who to a stand!!

[wildcat2362]

he doesn't even know where cars were invented. He thinks America invented the automobile.

[leytem]

this whole thing is just stupid come on all you have to due is force car companies to give out loans to those who have of a lower credit rating and 0% interest allowoed on loans with cars made basically from tax payers.or force them to make minimal profit per year they take tax money this way more cars are sold.would these companies actually charge us additionally for selling what are money paid for,well see i guess.its odd that people get rejected or really losely deals buying new for low credt

[JadeDragon007]

that what you get for making inferior automobiles...

I say the gov. should just buy it company and totally take it over, instead of giving it money.

[slikkwon]

media hardly covering ANY reaction to tthis...

[Malnutriti]

The difference is that GM will create job losses and un-employments for american car workers while the small corner store will only create job losses for its owners and suppliers! Big difference!

[sizercam]

If you do it for GM, then the same should be said for the small corner store that employes a dozen part-time workers. Realy what is the difference apart from the size!!!