April Fooled: Coulter Buys Obama Detroit NASCAR Ban

(NEWSER) - Though opinions of the government vary, most Americans continue to have a favorable view of President Obama, Fox News reports. In a new poll, 62% of respondents approve of the job Obama is doing; 31% disapprove. 64% like the president as a person. But on the administration’s takeover of General Motors and handling of the economy, the country divides along party lines. More»

(NEWSER) - President Obama said today that Chrysler’s impending bankruptcy is “not a sign of weakness but one more step” towards recovery, the Washington Post reports. The 1-to-2 month “surgical” bankruptcy—a time frame met with skepticism by experts—will give the automaker a “new lease on life,” Obama said. The president claimed that the filing and a partnership with Fiat would save “tens of thousands” of jobs. More»

Prez may end up taking the flak from restructuring's tough choices

(NEWSER) - President Obama's intervention in the auto industry puts him on a risky road through uncharted territory, David E. Sanger writes in the New York Times. Making decisions for an industrial giant like GM is a totally different enterprise than stepping in with the likes of AIG, Sanger writes—especially when the feds' promise to back warranties makes it a guarantor for blown transmissions as well as loans. More»

(NEWSER) - The Obama administration’s favored plan to rescue GM and Chysler is a managed bankruptcy that would relieve them of their biggest liabilities by splitting the carmakers into “good” and “bad” components, the Wall Street Journal reports. The “good” GM would comprise profitable brands like Chevy and Cadillac as a standalone concern. The “good” Chrysler would become a subsidiary of Fiat, if that deal is finalized. 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»