Obama can be tough!!!
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"President Barack Obama said Monday that GM's initial plans to become viable didn't go far enough. He gave the company 60 days to make more cuts and get more concessions from bondholders and unions or it won't get any more government help.
The Obama administration also asked former CEO Rick Wagoner to resign, and Henderson took over as CEO on Monday."
Bush and the Republicans approved the money for the automakers. Obama took over and demands that the automakers do what he, Obama wants or no government bailout money and close shop.
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Politicking or real character trait? If real character trait, then Watch Out World!!!
This chap speaks softly and carries a big stick!!!
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Tough ?
Or just being sensible - as it has always been part of Obama's character displayed ?
To understand him - read all the available materials that concern him, especially his thoughts expressed in the books that he had written.
GM's CEO had asked for a bailout in 2008, but could not deliver his plans to bring the company fortune back.
It is only reasonable for him to voluntarily step down, and when he did not or could not, or was not prepared to do so - Obama saw the CEO as an obstacle to changing the usual ways of doing business at GM and simply had to ask the CEO to go.
Obama had clearly shown that "business as usual" cannot continue when it leads anyone and everyone to nowhere - and he has shown this not the first time with GM, but also shown the way he intend to conduct ongoing mess that the USA is facing in the domestic economy, the political-military mess in Iraq and Afghanistan, and a new approach towards the various countries previously seen as adversaries to the USA.
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Sure, sensibly tough, not stupidly tough. Still it seems like he is pushing his "fuel efficient cars" by American manufacturers agenda on GM, even though GM finds it hard to compete against the foreign car manufacturers in this market.
GM sells big cars to the locals and that is their niche. Obama wants them to manufacture small cars/fuel efficient cars or else. (Obama: US auto industry must lead on 'clean cars' - 30 Mar 2009)
The American philosophy is hands off government and they look upon governments pro-active in the economy as "communists" and socialists" (think Japan Inc) but Obama and Geitner were brought up in Asia and he must have seen how massive government intervention in the economy is not such a bad thing.
He does not realise that it leads to massive cronyism if not outright corruption or maybe he realised that but he thinks that it will never happen, the cronyism and corruption, in America with its multiple freedom feedoms.
So to him it would be the best of both worlds. A first world democracy with a government actively "manipulating" the economy like the Asian economic powers.
The Americans would be sceptical but as an Asian, I think it would work. So the conclusion is still "Watch Out World!!!"
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For once, America has a "practical" instead of "philosophical" president.
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Or even better, an American president steep in American philosophy but practical at the same time, enabling him to have the best of both worlds!
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OMG!!!!! USA and Iran working side by side together....
Obama's Unlikely Ally: Iran Signs On To Afghan Plan
Barack Obama may be new to the world of international diplomacy, but he has already scored an impressive victory by co-opting Iran into joining the U.S.-led efforts to rebuild Afghanistan. At an international, one-day conference on Afghanistan at the Hague, Tuesday, Iranian Deputy Foreign Minister Mohammad Mehdi Akhundzadeh offered to help fight the Taliban, saying that, "Iran is fully prepared to participate in the projects aimed at combating drug trafficking and plans in line with developing and reconstructing Afghanistan."
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stop bailing out company.
they will nv learn
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Originally posted by youyayu:
stop bailing out company.
they will nv learn
Asian countries regularly bailout and "work" with the companies, hell, in Asian countries, some governments own the companies and use taxpayers money to operate them. This give them competitive advantages.
America is just wising up to this fact.
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Originally posted by AndrewPKYap:
Asian countries regularly bailout and "work" with the companies, hell, in Asian countries, some governments own the companies and use taxpayers money to operate them. This give them competitive advantages.
America is just wising up to this fact.
PAP govt ar?? again back to PAP, must be.
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Originally posted by AndrewPKYap:
Asian countries regularly bailout and "work" with the companies, hell, in Asian countries, some governments own the companies and use taxpayers money to operate them. This give them competitive advantages.
America is just wising up to this fact.
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Which other US President dares to/ have the ability to do this!!!!????
Tobacco tax rise for US smokers
BBC News - 15 minutes agoThe largest-ever single increase in US federal taxes on cigarettes has taken effect, almost tripling the tax on a packet to more than $1. ...PROMISES, PROMISES: Obama tax pledge up in smoke
The Associated Press - 31 minutes agoWASHINGTON (AP) — One of President Barack Obama's campaign pledges on taxes went up in puffs of smoke Wednesday. The largest increase in tobacco taxes took ...If he raises the petrol tax, all the talk and fear of US Federal deficits (government debt) will go up in smoke!!!!!!
I now bet that OBAMA OBAMA OBAMA will charge a petrol tax (from the current user fee) in the USA!!!!
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The 2009 G20 marks a very successful first International meet for Obama...
