PRESIDENT delivered yet another speech... now on US Auto Industry !
Politicians can not run business. They should not interfere. But, these are different times. Difficult times. Still, Obama team should not get into micro management.
The administration is clear they should not let the ‘US auto industry’ to vanish
The two manufacturers have been given strict deadlines of 60 days to GM and 30 days to Chrysler, submit new plans for recovery. He feels the US Auto industry is not moving in the right direction ( did anyone have doubt, as they were producing their gas-guzzlers when Toyotas of the world wee focusing on more fuel-efficient cars). He confessed the car firms had run into problems due to ‘lack of leadership’ ( sign of humility… though we all are universally intelligent to judge the past !But the challenge is to learn and move on...)
It is a collective failure by one and all, even the consumers who continued to patronize these gas guzzlers instead of creating a public opinion to move to better cars.
Indeed, US Auto Industry is a critical component of American society, values and character. Too many jobs are dependent on it. The International car industry also needs a vibrant US auto industry. Let us hope these initiatives will help them recover, and recover fast.
