First Draft: sputtering autos
President Barack Obama gives his verdict on auto industry restructuring plans at 11 a.m.
Apparently GM and Chrysler, both seeking government money, did not pass with flying colors. White House forced GM chief Rick Wagoner out and wants Chrysler to work out a partnership with Italy’s Fiat — could that spawn a PT Cruiser Panda?
Lots of chatter on the ousting of Wagoner. Two main questions being raised — why was the White House tougher on automakers than bankers on this front and is it the proper role of government to depose the head of a private company?
Michigan Governor Jennifer Granholm told NBC’s “Today” show that it was clear that Wagoner was a “sacrificial lamb.”
Don’t drink and drive. Beer wholesalers and brewers holding a conference in Washington this week, wonder what’s on tap…
Photo credit: Reuters/Jason Reed (GM’s Wagoner wipes eye during meeting)