President Barack Obama asserted unprecedented government control over the auto industry Monday, rejecting turnaround plans from General Motors and Chrysler and raising the prospect of controlled bankruptcy for either ailing auto giant.
Eager to reassure consumers, Obama also announced the federal government would immediately begin backing the warranties that new car buyers receive — a step designed to signal that it is safe to purchase U.S.-made autos and trucks despite the distress of the industry. more....
Tuesday, March 31, 2009
Obama sets deadline to force GM, Chrysler overhaul
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Tuesday, March 31, 2009
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