#8: Magazine Article

I am sure by now everyone has heard about how badly GM and Chrysler are doing. If they do not already have enough problems to worry about President Obama just announced that 60 days to come up with a better plan of he is cutting off tax payers funds. The article General Motors: 60 Days to Show Result, which appeared in Business Week, explains that Obama is not satisfied with the plan that GM and Chrysler presented to his administration recently. He says they need to come up with a better plan, or else. Some of the criteria they must meet are to negotiate further cuts from the UAW, reduce its unsecured debt, and show a plan that works. This is a comfort to finally hear. Obama is actually taking charge and working towards building our economy, because what happens in the states is so closely related to what happens to us. I gathered from the article that what GM originally proposed would have met Bush’s standards, which seem to be a lot lower than that of Obama’s thankfully. Obama does not see the benefit in giving these companies money if they do not have a solid viable plan on how they would use it. We need to get a clearer grasp on what our economy is going through right now, like Obama has. No more CEOs making millions, if not billions of dollars, while their company is going bankrupt. It does not make sense, and hopefully with Obama’s influence it will begin to stop.