01
Jun
11

resurgence

White House: Two years ago, on June 1, 2009, General Motors filed for bankruptcy, backed by $30 billion in support from the federal government. The same day, in the same New York courthouse, a judge approved Chrysler’s plan to forge an alliance with Fiat and emerge from bankruptcy as a restructured business with an uncertain future.

Two years later the American auto industry is mounting a comeback.

In the year before GM and Chrysler filed for bankruptcy, the auto industry shed over 400,000 jobs.  Had President Obama failed to intervene, conservative estimates suggest that it would have cost at least an additional one million jobs and devastated vast parts of our nation’s industrial heartland.  Since GM and Chrysler Group emerged from bankruptcy in June 2009, the auto industry has added 115,000 jobs – the fastest pace of job growth in the auto industry since 1998.

More here


11 Responses to “resurgence”


  1. 1 UT Austin Liberal
    June 1, 2011 at 4:32 pm

    This is what real leadership looks like. It’s taking action even if it seems like all the odds are stacked against you and your opponents are rooting for you to fail. Thank God Barack Obama is President. I hope they keep spreading this news around; because knowing the repubs they’ll be spreading around like herpes taking credit for this feat.

    • 2 sherijr
      June 1, 2011 at 4:37 pm

      We need to spread this news also UT. We are the ones we’ve been waiting for, lol.. couldn’t help myself here, sorry.

      • 3 anniebella
        June 1, 2011 at 4:41 pm

        Sherijr, yes we do. And Yes We Can. When people ask what have he done, we need a list to run off at them, starting with the Auto Companies comeback.

  2. 5 anniebella
    June 1, 2011 at 4:38 pm

    Romney, Pawlenty, Griginch, and many other Republicans all said let the Auto Companies fail, let them go. But our President said NO! We will help them,well the Auto Companies are on it’s way back. They have paid back all, or most of the money loan to them, and they are hiring more people back. Thanks to our President who said these companies are part of America and we can’t let them disappear. Romney suppose to be a big time business man, well he was wrong on this one weren’t he. And so was the rest of them. But thanks to our President, the country that first made the automobile, is still in business.

    • 6 margaret cargill
      June 1, 2011 at 7:01 pm

      I remember, in fact Romney spokesman said last week that it was Romney’s idea WTF.

  3. 7 Fred
    June 1, 2011 at 4:48 pm

    thank you Mr President for standing strong despite the Tea’s going hard at you for making sure the folks working in the auto industry still have a job today.GOD bless you 1.000.000.000 for that

    so happy these folks are back at work 🙂

  4. 8 hgerhard
    June 1, 2011 at 4:55 pm

    I think we should also point out that President Obama not only made a decision to give the auto industry a hand, he also insisted that the companies restructure and make changes to become competitive again. The recovery of the auto industry is a direct result of both actions. President Obama was concerned to save a million or more jobs directly and to ensure future growth by insisting that the companies make better and more efficient cars.
    Both heart and smart – that’s our President!

  5. 10 margaret cargill
    June 1, 2011 at 4:59 pm

    I was so glad when President Obama helped the auto industry, and now look what has happened. Remember Rush Limbaugh saying, “I hope he fails”, well no he succeeded. I am so happy he is my President.

  6. 11 SUE DUVALL SMITH
    June 1, 2011 at 5:43 pm

    THE PRESIDENT IS ON THE RIGHT SIDE OF HISTORY…HE WON’T FAIL…WHETHER THE ISSUE IS MEDICARE..THE DEBT OR ANYTHING ELSE…AS I HAVE ALWAYS SAID…TRUTH AND JUSTICE PREVAILS AND THAT’S WHERE HE SITS!


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