The Conservative Cave
Current Events => Economics => Topic started by: thundley4 on April 03, 2009, 08:09:04 AM
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Obama's Own Report on GM Says Plan to Build Non-Gas-Burning Car Would Not Save Company
(CNSNews.com) – The report on General Motors released by the White House says the company’s restructuring plan will not lead to a stronger company, in part because the beleaguered auto giant’s proposal to rely more heavily on advanced, fuel-efficient cars is not commercially viable.
The report’s findings stand in stark contrast with the President’s chief goal for America’s auto industry: leading the world in green car production.
“I am absolutely committed to working with Congress and the auto companies to meet one goal: The United States of America will lead the world in building the next generation of clean cars,†Obama declared Monday at a press conference marking the report’s release.
The GM portion of the report, authored by the President’s Auto Task Force, finds that GM’s restructuring plan is not viable because it is based on economic assumptions that leave too little room for error, should any of the company’s ideas fail.
“In the end, GM’s plan is based on a number of assumptions that will be very challenging to meet,†the report finds, adding “after substantial effort and review, the President’s Designee has concluded that the GM plan, in its current form, is not viable and will need to be restructured substantially.â€
Fail (http://www.cnsnews.com/public/content/article.aspx?RsrcID=46007)
Another 0Bama admisministration failure of his own making.
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That is what you get when you have a person with no ideas or intellect,just campaign speeches played on the teleprompter.
Gee,and they were hellbent at saying President Bush was a "liar"...wonder what that makes O when he says one thing all the while his own minions are doing the exact opposite.
Useless puppet.
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Gee,and they were hellbent at saying President Bush was a "liar"...wonder what that makes O when he says one thing all the while his own minions are doing the exact opposite.
"Nuanced."