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The green side of Obama's auto industry speech

The short version of President Obama's speech today regarding the U.S. auto industry is this: there's only a little more time for GM and Chrysler to get their act together. First off, GM CEO Rick Wagoner got booted and was replaced by Fritz Henderson. Michigan governor Jennifer Granholm said Wagoner was a "sacrificial lamb" (it's still unclear why he was forced out while bank CEOs get to stay on, but that's another issue). GM will be given 60 days of financing to restructure. Chrysler and Fiat have 30 days to come to an agreement, and the ... Read more →

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