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GM Welcomes President Barack Obama
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Enlarge PhotoA shaky General Motors took little time this morning to herald the 44th President of the United States, and even less time to remind him of "a number of national priorities that will require his and Congress' immediate attention." Barack Obama has been supportive of Fed-backed low-interest loan guarantees for domestic automakers, but he has also been a proponent of big change in the auto industry, supportive of alternative fuels, and is himself the driver of only one vehicle, a Ford Escape Hybrid he shares with his wife Michelle Obama (he switched from a HEMI-powered Chrysler 300 in the summer of '07).
While naming only the global financial crisis as the cause for "one of the most difficult economic periods in our nation's history" for the domestic auto industry, GM does mention its need to transform its business model and work on new technologies, as it is doing feverishly with models like its segment-defining E-REV 2011 Chevrolet Volt and compact Chevrolet Cruze, the latter delayed due to financial setbacks.
GM's last sentence in its Presidential congratulations, which salutes Obama's support of the U.S. auto industry, reads almost like a plea to the next administration and you, the taxpayer: "this support will enable a competitive U.S. industry to contribute significantly to our nation's economic revival, in employment, technology, energy security, and other important areas." With the taxpayers set to fund $25 billion in low-interest loans to the BigThree Two, GM's humble tone is only appropriate as it prepares to buckle down, trim up, and embark on the challenging work of survival and market relevance.--Colin Mathews
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While naming only the global financial crisis as the cause for "one of the most difficult economic periods in our nation's history" for the domestic auto industry, GM does mention its need to transform its business model and work on new technologies, as it is doing feverishly with models like its segment-defining E-REV 2011 Chevrolet Volt and compact Chevrolet Cruze, the latter delayed due to financial setbacks.
GM's last sentence in its Presidential congratulations, which salutes Obama's support of the U.S. auto industry, reads almost like a plea to the next administration and you, the taxpayer: "this support will enable a competitive U.S. industry to contribute significantly to our nation's economic revival, in employment, technology, energy security, and other important areas." With the taxpayers set to fund $25 billion in low-interest loans to the Big
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Make sure you check out our partner sites dedicated to focused news, reviews and more for Ford, Chevrolet, Toyota, Honda, and the Toyota Prius.
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