Obama to Give Automakers More Aid

Some Republicans were ready to let GM, Chrysler die: Jonathan Cohn

(NEWSER) - Barack Obama reportedly plans to make the auto bailout a key part of his reelection campaign, and Jonathan Cohn of the New Republic thinks that’s a great idea. Chrysler and GM are in much better shape, he argues—GM in particular is “reporting big profits, it is winning design awards, and, most important of all, it is selling lots of cars.” More importantly, employment is creeping higher in states like Michigan with a heavy auto industry presence. More»

(NEWSER) - Barack Obama gave GM and Chrysler some tough love yesterday. Too tough, or too much love? Here’s what the papers are saying:

• Obama “delivered a believable, sharp, and necessary ultimatum,” says the Washington Post. He rightly demanded union concessions, and put bankruptcy back on the table.
• But the Chicago Tribune thinks Obama should have gone straight to bankruptcy. “An ultimatum is more believable if you haven't just failed to follow through on a previous one.”

Parochial concerns results in a less-than-unified response

(NEWSER) - Republicans were caught off guard by Obama’s auto moves yesterday, and they responded in wildly different ways, Politico reports. Some complained the president hadn’t been hard enough on GM and Chrysler, while others groused that he’d been harder on them than he’d been on Wall Street. Still others, like California’s Darrell Issa, said he’d “struck the right chord.” The reason? Parochialism. More»

(NEWSER) - GM and Chrysler got tough love from Barack Obama today, with the president declaring that they haven't made substantial enough changes to justify another federal bailout, and decrying the “failure of leadership” to come up with viable restructuring plans. Obama said the companies would have to regroup radically to survive on their own, not as “wards of the state.” GM will get 60 days worth of federal financing, and Chrysler 30; if they don't have a credible plan in place by then, the government may make them restructure through bankruptcy. More»

President will discuss required conditions for further government aid

(NEWSER) - President Obama is nearing a decision on whether to give automakers more bailout money and will lay out his plan for the future of the industry Monday, the Detroit News reports. The president “will outline what he thinks is the best way forward," spokesman Robert Gibbs said, including the nature and conditions of any additional aid. Members of Obama’s auto advisory team met with GM CEO Rick Wagoner today, following a get-together with Chrysler's CEO earlier this week. More»