When President Obama announced the government take over of the auto industry, it seemed like a far cry from what the CEO of General Motors Corporation and Chrysler LLC were expecting. Obama refuses to let the auto industry fail and has a plan to take all the actions necessary to regain a strong auto industry. President Obama said that in order to regain the financial status required to rebuild the auto industry. The GM corporation has exactly 60 days to get their act together. They have to find a way to bail themselves out of the mess they have created or the presidency will permanently step in to handle the situation. The Industries of Chrysler are in an even worse situation because they have only 30 days to whip their company back into shape. With both of the companies in millions of dollars of debt this seems like an almost impossible task.
