auto industry - Garrett Johnson April 7, 2009 Business...

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Garrett Johnson April 7, 2009 Business communication Introduction First off, I am for what the president is saying about Detroit’s auto industry. They really need to get their act together before it vanishes completely. I am for what he says about the auto industry cannot be allowed to vanish but they still need a lot of work. If there was more leadership going on and if they had kept up with newer car models there may not have been a problem. The president recently stated “these companies and this auto industry must completely stand on their own, not as a ward of state”. He would later state that it wasn’t the families and communities that lead the industry to this point. He stated that “rather, it is a failure of leadership-from Washington to Detroit- that led our auto companies to this point. As a plus GM has said that there company would take all the necessary steps to successfully restructure the company. That’s good to hear from a company that’s against the wall. Government help There are several things the government must do to get the auto industry to where it needs to be. One of the steps that they will take is underwriting new vehicle warranties from each company. The government will be backing up the purchases that GM and Chrysler will take from
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here on out to make sure each company gets back on track. The administration is working through the Treasury Department’s Consumer and Business Lending Initiative to increase the flow of credit to auto finance companies. In other help the IRS will begin a program to educate
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This note was uploaded on 06/01/2011 for the course LIBERAL AR 100 taught by Professor Staff during the Spring '11 term at Oakland CC.

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auto industry - Garrett Johnson April 7, 2009 Business...

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