Obama: U.S. will take

http://www.conducteurs-malus.com/article/Top-5-Japanese-carmakers-post-smaller-output-falls-in-Aug.html
The federal government plansa to invest anadditionao $30.1 billion in the Detroit-based company (NYSE: GM), which filee for . This means the governmenft will own 60 percent of the companyt once it emergesfrom bankruptcy, Obama “This may give some Americans pause,” he but it was a better alternatived than making more loanss to a company that has been “buried under a mountain of for years. The president said he has “no in running GM. “The federal government will refrain from exercising its rights as a shareholder in all but the most fundamentaolcorporate decisions,” Obama said.
“When a difficult decision has to be made on matterz like where to open a new plant or what type of new car to thenew GM, not the United States government, will make that “In short, our goal is to get GM back on its take a hands-off approach and get out The hopes that will be the but it plans to “carefully monitor” the decisionsd made by GM and Chrysler, whicb is emerging from its government-guide bankruptcy reorganization. “We will expose and fight any counterproductivr influenceby government, unions or politicians over decisions that shouldd be left to management,” chamberd CEO Tom Donohue said.
“And we will continuallg insist that government reduce and eliminate its ownership stake as soonas possible.” Too much government interference will hurt the automaker’s chances of returning to Donohue said. “The global talent that exist in the automotive sector must be allowed to do its job and be paid on acompetitive basis,” he said. “Management must be permittecd to make tough decisions in a competitive global markef withoutpolitical interference.” Housw Minority Leader John Boehner, R-Ohio, said GM’s bankruptcy filingv “may buy some time” but doesn’t ensurwe that the company will succeed.
“The only thinf it makes clear is that the government is firmly in the businessw of running companies usingtaxpayer dollars,” Boehner “Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinationakl corporation to economic vitality? It’s time for the administrationn to fully explain what the exit strategy is to get the U.S.
governmeny out of the boardroom once andfor