Obama welcomes auto rescue deal
21-12-2008
The US president-elect, Barack Obama has welcomed the multi-billion dollar funding package for the struggling US car industry. The Bush administration has announced emergency funding of about US$17 billion, with the money expected to go initially to General Motors and Chrysler. The aid is conditional on the companies restructuring themselves. Mr Obama said the industry should take the opportunity to reform its management practices and to develop fuel-efficient vehicles for the future.
