Big moves on autos

He had been in command only a few weeks when he told the struggling American auto industry that it had better shape up or the government would let loose the lines and let it ship out.

"We will not let our auto industry simply vanish,’’ President Barrack Obama said. But neither would he let its leaders hide in the fog while spending taxpayer money.  "We cannot make the survival of our auto industry dependent on an unending flow of dollars.’’

He was rejecting restructuring plans put forth after the companies had received their first infusion of federal money provided by the Bush Administration last December.

Rick Wagoner, GM CEO and chairman: Outta here. Chrysler: Arrange a marriage with Fiat so you can build small cars.

The streamlining continues and, while painful with job losses and plant closings, an industry depended upon not just by the U.S., but globally, the outcome is critical. General Motors (a huge player in the world market) is cutting jobs, plants, dealerships, and even its beloved Pontiac line. Chrysler is in a tight courtship with Fiat of Italy in a move that could provide transcontinental benefits. Ford, meanwhile, seems to have streamlined on its own, has not asked for federal aid, and appears poised to pounce once the economy rebounds.

Obama appears unafraid to put the pedal to the metal.

http://www.globalpost.com/notebook/wheels/090428/big-moves-autos