Reaction to President Obama’s Auto Industry Plan
From the Detroit Free Press:
General Motors’s new chief executive is ready to take the company into bankruptcy to save the company
In his first press conference since taking over GM on Monday, Fritz Henderson revealed today that he’s been given a clear mandate: Make GM successful by “whatever it takes.”
“If I didn’t want to be part [...]
President Obama Gets Ready to Travel Abroad
From the New York Times:
President Obama is facing challenges to American power on multiple fronts as he prepares for his first trip overseas since taking office, with the nation’s economic woes emboldening allies and adversaries alike.
Mr. Obama is unlikely to push for specific commitments from other countries on stimulus spending to bolster their own economies, [...]
President Obama’s First Congressional Address
From the New York Times:
In his first address to a joint session of Congress, Mr. Obama mixed an acknowledgment of the depth of the economic problems with a Reaganesque exhortation to American resilience. He offered an expansive agenda followed by a pledge to begin paring an ever-climbing budget deficit.
From CNN:
The president struck an optimistic tone, [...]
Saturday Obama News Wrap Up…
From CNN:
Former Secretary of State Colin Powell is lending his stature to an initiative from the incoming administration to connect volunteers with causes that need them.
“Let’s come forward to serve our fellow citizens and to serve our nation,” Colin Powell said Friday.
“We have an economic problem,” Powell told a Washington news conference [...]
President Bush Approves $17.4 Billion Auto Bailout
From The New York Times:
The money to aid the automakers will come from the Treasury’s $700 billion financial stabilization fund. Shortly after Mr. Bush’s announcement, the Treasury secretary, Henry M. Paulson Jr., who will oversee the aid to the auto industry, said Congress would need to release the second $350 billion for that program in [...]