Obama supports the ailing auto industry, GM has expressed an urgent

Financial crisis takes toll on global economy, phone and U.S. automaker sees rise in his throat. Automakers have reported large losses and seek emergency aid from the federal government, but Bush rejected the lending rates for the industry to find.
President-elect Barack Obama dance music playing in the same campaign, which acknowledged the need for more loans to businesses in the car. Obama revealed during a television interview that the delegation of staff research possible solutions to the crisis seemed to make life difficult for car manufacturers.

automotive by elected American presidents are expected backbone of U.S. production and promises priority, and Congress will not act against the November 17 meeting.
was to provide automotive financing to 25 billion U.S. dollars by the government, but this is the need for more fuel efficient cars to develop is not solving the problems of cash flows that experience in the production of big cars like GM has.

GM officials requested emergency financial aid for the state can not wait for the new president Express took place in the Oval Office in January.
In return for financing, vehicle manufacturer provides to the government preferred stock selection in determining the maximum salary for top executives, and accelerate plans to produce fuel efficient vehicles.



GM sent out a distress call when it was the amount of cash to burn 6.9 billion U.S. dollars in Q3 to reduce their reserves of 16.2 billion U.S. dollars. manufacturer of machinery have reserves of at least $ 11 to $ 14 billion continue to drive.