One of the biggest players in the automotive recently has been president Obama. He has highly invested in the American based car companies, thinking that it will stimulate the economy. One specific action that he took to help the automotive industry was signing the Cash for Clunkers bill. This bill helped the automotive massively. It made thousands of americans drop their old cars and go buy new ones. This all started because Obama signed off on the bill.
I think that Obama has taken huge initiatives to help our economy and especially the automotive industry. He bailed out GMC when they filed for bankruptcy because he knows how many jobs the huge companies create for americans. Jobs range from the actual workers who work at the factories to the corporate managers. The automotive industry is crucial to the american economy and our president realizes that.
I agree, I think Obama has played an important role. He made a great move by saving GM, which saved hundreds of other suppliers from going down, as well as thousands of jobs.
ReplyDeleteBut right now,I think Obama needs to push for the holding of most of it's GM stock. The government already owns majority share, and if they sell much of it off to China, the US will be giving up it's stake in one of it's largest and most important companies. I think this could help the US even more, especially since GM stock is predicted to go up.
Personally, I think it is unfortunate to say Obama has been playing a significant role in the automotive industry. Bailing out GM was not beneficial. GM should have sank. Just because it is a big auto maker does not mean it should not be able to fail. The government should keep its hands out of the automotive industry. The government does not have the means to be saving every big company that fails. When a company fails, it's for usually a legitimate reason. Are taxpayers really going to get their money back from bailing out GM? I think not.
ReplyDeleteIrene Kalis
I think it was in every way beneficial. The government will sell it's shares in GM when it hits the market later this year and get back every dollar they put in.
ReplyDeleteBy bailing out Gm the government saved a huge amount of jobs as well as all the suppliers that support GM and other manufactures. It would have hurt tons of dealerships with inventory of GM cars, and could have had a profound effect of vehicle service for those who owned a GM car.