Promises one thing, delivers another. As a, uhm, wise man once said : Fool me once, shame on — shame on you. Fool me — you can't get fooled again.

From the mouths of babes.. ;]

If the administration wanted to save the workers then why are they going to shut down 14 manufacturing plants? Was that decision made by the 31 year-old campaign staffer who is now in charge of deciding Detroit's fate?

If Obama had just let GM go uinder, would the Republicans congratulate him for his free market principles? Hell no - they would blame him for letting GM go under on his watch. I'm not saying Obama made the right choice, only that he had no good choices.

I'm all for it !!!!

Do away with the stupid milage requirements,drill for more oil ANYWHE. build car and trucks that American and GM would be all O.K. Instead we are headed for Lenin's quote "worse is better". However if we can get back real Americans in the government in 2010 and 2012 we'll be just fine and then "Worse is better" engineered by Obama et al will finally get us back to a capitalist system in which if you work you do O. K.

I doubt this this South Chicago boy could even run a toy train.

To say that Wall Street being up 200 points has nothing to do with this announcement is naive. This is another gift to Wall Street.

except: he's already been active. He fired the CEO !

Look, I am an Obama supporter. Voted for him, believe generally in what he's doing, and could not have cast a ballot for a ticket that included Sarah Palin under any circumstances.

That said, the actions the Obama White House is taking involving the auto industry make me very nervous. I am not made comfortable about GM by a comparison to the Chrysler situation (its own resolution as yet unclear). They are very very different in size and scope.

In addition, the Times article today about the influence of Brian Reese makes me even less comfortable: Reese is a special assistant to the President for economic policy, and a member of the President's automotive task force. He is neither an economist nor an auto industry veteran. He's a campaign worker. According to the article, he is an increasingly influential voice among the President's team of advisors on the automotive industry topic.

These are not indicators of a good outcome. Despte what the White House says, they have already proven their willigness to be very active in the running of the company. The comparison to Chrsyler shows, if anything, a serious analytical flaw. And the team, smart as they may be, has in large part zero experience in the industry they're taking over.

It must kill you guys that Obama's still running 60/30 approval/disapproval.

Thoughts:

- The only Detroit auto company not failing is run by a non-auto guy (Mulally came to Ford from Boeing).

- Maybe Deese (not Reese) is really good, and got to where he is by merit (maybe, maybe not, but given that he worked on the Clinton campaign, it's tough to argue that he has his current position as a reward for the campaign). Obama's main speechwriter is what, 24?

- GM is built for a US light-vehicle market of 15+M vehicles a year (all mfg). We're at closer to ~10M/year now. Survival requires plant closures. Chapter 7 would have lead to many, many more job losses (and would've taken out have the supply base with it)

As my income is derived 100% from the automotive and heavy equipment industries, I've been paying close attention, and I think Obama's doing a pretty good job.

Amazing how quick people are to criticize a President that had nothing to do with creating this situation, and precious little time to make any kind of decision.

But enough about the whining of small minds.

GM has for years now been a multi-national corporation doing what was best (it thought) for itself, and not giving two hoots about America or Americans. Now, with a little luck, there's a chance to turn that around 180 degrees.

Here's a chance to build cars that are BETTER than anyone else's! For example, here's a chance for us to put into place the teachings of W. Edwards Deming (go to the head of the class if you have a clue what I'm talking about).

Or we can sit around like so many on this site and be nay-sayers and prophets of doom.

"Obama's main speechwriter is what, 24?"

Big difference between speechwriting and playing a central role in shaping policy on an industry that has an enormous impact on the entire American economy. You can't see that ?

Love the comparison to Mulally, by the way. He was a senior businessman with Boeing for, what, 30 years before taking over Ford ? Right. That’s exactly the same as a law-school drop-out with no business experience whatsoever.

If you're not concerned about the ways the White House is making decisions, and the level at which they are apparently comfortable actively involving themselves in the management of these companies (what else would you call firing the previous CEO ?) then you're a much more optimistic person than am I.

I don't want failure here. I am desperately hoping they succeed. Those steps make me nervous, though.

And I bet you believe in the Tooth Fairy as well.

so he better be ready to run it and get my money back.

Change we can believe in.

Who was it who said that? Ron Gettlefinger, President of the UAW. Jennifer Granholm (D) Governor of Michigan and full-time toadie to the UAW. Together, and with the help of the Obama Administration, they carefully placed a gun to the head of Rick Wagoner of GM, and forced him to recite the same nonsense even though he knew better and had had GM's corporate legal staff investigate bankruptcy options. Together, they all went to Washington and with a straight face said, bankruptcy cannot be an option.

And who really did suggest bankruptcy as an option, to pare away the UAW contract and the telephone-book of reatrictive work rules? And to slash away at the bloated dealer network that was protected by 50 state statutes giving sweetheart protections to the auto dealer networks? Why, those suggestions came from Mitt Romney, and Senators Corker of Tennessee and Shelby of Alabama. Not to mention about a dozen editorials from Holman Jenkins Jr., and the Editorial Board of the Wall Street Journal.

Of course, no bankruptcy filing would have been acceptable to the Obama administration until it was prepackaged to stiff the secured debtholders in favor of the UAW. Once they had that in place, then bankruptcy would be okay.

I'm beginning to wonder if anybody even cares what Obama says anymore, and if his words have any meaning at all.