Obama weighing idea of "auto czar," aide says

Yahoo ^

[Sub-Driver]

Obama weighing idea of "auto czar," aide says 11 mins ago

CHICAGO (Reuters) – President-elect Barack Obama is considering naming a point person to lead efforts to help the distressed auto industry return to health, an Obama aide said on Thursday.

General Motors Corp, Ford Motor Co and Chrysler LLC are seeking a federal bailout of up to $50 billion.

Automakers and Democratic congressional leaders have discussed a two-stage process in which government would provide $25 billion in direct loans to meet urgent needs. A second $25 billion would come later and could be applied to a United Auto Workers (UAW) retiree health care trust, freeing up more cash for operations.

An Obama transition official said the president-elect was looking into "identifying someone in charge of the auto issue who would have the authority to bring about reforms that would lead to an economically viable auto industry."

Obama said at a news conference last week that he considered federal help for the industry a high priority for his transition and called the auto companies "the backbone of American manufacturing and a critical part of our attempt to reduce our dependence on foreign oil."

[Sub-Driver]

Auto czar, climate czar, jobs czar..........bla, bla, bla...

[LottieDah]

All these czars is this Russia?

[Glacier Honey]

ping

[Slapshot68]

We’ve completed leapfrogged over increased federal regulation to state ownership.

Welcome to the USSA.

[mlocher]

Obama weighing idea of "auto czar," aide says 11 mins ago

An auto czar, for the manufacturers of cars, is very bizarre. By far.

[Jagman]

Yeah, Czars sound kinda neat right up to the point where they get gunned down by Bolsheviks

[ethics]

Sounds like we have POLITBURO!

Obama has brought us change!

[Poison Pill]

President-elect Barack Obama is considering naming a point person to lead efforts to help the distressed auto industry return to health

How 'bout the guy that runs Toyota.

[Sacajaweau]

Is the government going to be "The New Union Shop"??? The whole thing boggles my mind. Let the companies figure it out. Why would "I" want to invest in a losing company...which wouldn't be losing if the Unions weren't hijacking the industry.

What's the average wage and benefit of a line worker??

[RichardW]

Anything to save the precious UAW bandits.

[RichardW]

For GM $73 per hour.

For Toyota $48 per hour.

[technically right]

All of these idiots are missing the point. OK fine, bail these losers out and then have the “tsar” tell them what kind of cars to make.

SOMEONE STILL HAS TO WANT TO BUY THE DAMN THINGS!!!

[scooby321]

Auto Czar , He needs a consumer czar. People just are not buying anything. Any wonder “ change” ( since the stock market is trading on what they think of the future) is down 17% since Obama’s election.

[mlocher]

Is the government going to be "The New Union Shop"??? The whole thing boggles my mind. Let the companies figure it out. Why would "I" want to invest in a losing company...which wouldn't be losing if the Unions weren't hijacking the industry.

Your points are extremely well taken. Obama is going to do everything in his power to impose socialism on the American people and the US economy under the guise of regulation. I can hardly wait for the world's global economic engine to come to a screeching halt.

[null and void]

Nixon had an Energy Czar.

[Xenophon450]

Don’t worry, Obama will have the government buy them and then promptly scrap them, or donate them to Kenya.

[null and void]

It won’t be a very long wait.

[silverleaf]

the czar can order the factories to keep producing cars

people can't be ordered to buy them

(just talked to a friend who is buying a new Mazda. The dealer has frozen all new orders and will also not be taking anymore trade-ins until what they have on their lots is cleared)

My stupid state senator Mikulski has proposed that interest on car loans be made “tax deductible”. d’oh. Many car loans if you can find them are 0% interest! Plus who still takes tax deductions? Who still pays taxes at all? The gubmint is running out of inducements to get people to spend money. As we who have any, are hoarding it in preparation for the crash economy of Barry

[aruanan]

Obama weighing idea of "auto czar," aide says

That would be ca-razy.