Obama: Car Companies Get 30 Days; Better Plans or Bankruptcy
Also, owners of GM and Chrysler cars learned "starting today the US Government will be standing behind your warranty." There will be incentives, including a trade-in program to give car owners a price break for turning in their less fuel-efficient cars. Obama told the folks in Flint and other cartowns that he can't promise there won't be tough times, but "I will fight for you," and that he intends to "make America's auto industry in the 21st century what it was in the 20th century - unsurpassed around the world."
You'd think conservatives would be delighted that the socialist Obama Administration is threatening to let the magic of the market work on the car companies, but the American Spectator cries fascism. Expect more of this as the day progresses.