Tuesday, July 15, 2008 Obama: GM to survive economic woes David Shepardson / Detroit News Washington Bureau WASHINGTON -- Likely Democratic presidential nominee Barack Obama called General Motors Corp.'s plan for cutting jobs, truck production and other measures "a sober reminder of the difficult economic times we're facing."
Obama spoke in Washington before heading to Indiana tomorrow. He plans to leave on a trip to Europe and the Middle East later this week. Obama said "my heart goes out to all the workers and families in Michigan and across the country who will be affected as well as those who have been impacted over the last few months and years of turbulence in the auto industry. Advertisement "America's auto workers are not just the backbone of our economy, they are on the front lines of our effort to produce the next generation of clean vehicles," he said in a statement. Obama met with GM chairman and CEO Rick Wagoner last month and Ford president and CEO Alan Mulally. He said domestic automakers "are facing a perfect storm of record gas prices, rising steel prices, a credit market contraction that has made it more difficult for consumers to purchase autos, and a weakening economy that has shed jobs for six straight months." "The impact of their hardship goes far beyond their own companies -- to the countless suppliers, small businesses and communities throughout our nation who depend on a strong auto industry." Obama said he has "complete confidence that GM and our other auto companies will adapt and thrive in the 21st century economy if we bring real change to Washington." The candidate's first statement on GM's restructuring repeated a mistake he made in June, when he asserted President Bush had waited for six years to meet with the CEOs of Detroit's Big Three. Bush in fact met with them in 2003. His campaign issued a corrected statement. Obama spokesman Dan Leistikow said "it was obviously a mistake and quickly corrected." You can reach David Shepardson at (202) 662 - 8735 or [EMAIL PROTECTED] This message has been scanned for malware by SurfControl plc. www.surfcontrol.com _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
