In an hour long meeting with reporters today, President Barack Obama said he remains strongly committed to providing the auto industry with “serious help.” He said that he is eagerly waiting on plans from Chrysler and General Motors next Tuesday to justify a $17.4 billion loan to the two Detroit automakers.
Obama said that if their plans are realistic and show viability in the long-term the government could offer more help. If the government believes that the Detroit automakers still don’t get it he said “Then we”re going to have to ask them to go back to the drawing board.”
His message to the Detroit automakers was: “Get me a plan that works.”
GM and Chrysler will be headed to Washington, D.C., next week with their updated restructuring plans.
Source: Detroit Free Press