The US President-elect Barack Obama has promised to create more jobs in the floundering American motor industry, but said at the same time that the car-giants and unions must use the opportunity to end bad management practices. His comments came on the day George Bush’s outgoing administration made 12.5 billion euros available to the Big Three manufacturers in the form of emergency loans.
Obama said: “I do want to emphasize to the Big Three auto makers and their executives that the American people’s patience is running out and that they should seize on this opportunity over the next several weeks and months to come up with a plan that is sustainable. And that means that they’re going to have to make some hard choices.”
The car-industry has been crying out for a special aid package to weather the global financial crisis – not just for the manufacturers, but for all those who rely on them too.
Rick Wagoner, the CEO of General Motors said: “This action will help preserve many jobs and support the continued operation of GM and the many suppliers, dealers and small businesses across the country that depend on our company and our industry.”
Many workers on the assembly line said the bailout provided hope. Others believe Bush’s rescue package was the result of his own failures in the first place.
Chrysler employee Darrius Wallace said: “I’ve made enough concessions. It is not my fault, he (Bush) messed up, it’s not my fault. So I can’t pay no more.”
Obama did not say if he would make any changes to the Bush package when he takes office in January. But he did say that the industry must not squander the chance to change.