From ABC News: "President Obama will announce today that the federal government will not give Chrysler and General Motors the additional $21.5 billion they requested in February because his administration has deemed their viability plans inadequate." From MSNBC: "Obama sent a blunt message to Detroit automakers: To survive — and win more government help — they must remake themselves top to bottom. Driving home the point, the White House ousted the General Motors chairman as it rejected GM and Chrysler’s restructuring plans." -------------------- This administration has seemed to determine that General Motors is worth saving. Obama seems to be saying that GM has a future. The government is going to rally behind GM (the president even singled out GM brands like Buick). GM chairman Rick Wagoner has been forced to resign, a "sacrificial lamb", a gesture to show this administration means business. Chrysler is a different story. They've been asked to either merge or go into bankruptcy. Again, here's MSNBC: "Frustrated administration officials, speaking on condition of anonymity ahead of Obama’s announcement, said Chrysler has been given a 30-day window to complete a proposed partnership with Italian automaker Fiat SpA. The government will offer up to $6 billion to the companies if they can negotiate a deal before time runs out. If a Chrysler-Fiat union cannot be completed, Washington plans to walk away, leaving Chrysler destined for a complete sell-off." GM has 60 days to restructure. Chrysler has 30 days to merge. I'm amazed that Obama is so front & center here. He seems to be actively involved behind the scenes, not just window dressing. He is no socialist. He wants the auto industry to "...stand on their own. Not as wards of the state." Obama: "Let me be clear: the United States government has no interest or intention of running GM." "And we cannot make the survival of our auto industry dependent on an unending flow of tax dollars."