Difficult times lie ahead- President Obama
Despite announcements from US administration regarding the revival plan of General Motors president Obama says, job losses might not end completely.
While the US administration made the proclamations regarding the revival plans, Obama said I will not pretend the hard times are over. Difficult days lie ahead. More jobs will be lost. More plants will close. More dealerships will shut their doors, and so will many parts suppliers.
He also added, “people should be ready for more sacrifices and difficulties ahead as his administration is trying its best to come out of the worst ever economic crisis the US is plunged into in a century.”
However, Obamas administration is still investing billions of dollars in order to save the companies from the crisis situation. While the GM of the future will be different from the GM of past, I am absolutely confident that if well managed, a new GM will emerge that can provide a new generation of Americans with the chance to live out their dreams, that can out-compete automakers around the world, and they can once again be an integral part of Americas economic future, said Obama.
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Posted by Economy News
on Sep 1 2010. Filed under USA Economy News and .
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