Obama's sobering message to Detroit

[BeatleBoot]

From The Detroit Free Press...

http://www.freep.com/article/20090715/COL06/907150367/Obama-s-sobering-message-to-Detroit

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Oh, he shot some jabs at the naysayers who said GM and Chrysler didn't deserve to be saved and wouldn't be able to emerge quickly from bankruptcy.

But otherwise his message was a sobering one.

"It was the right thing to do," he said of extending more than $50 billion in federal loans to give the companies a shot at surviving as leaner outfits with new management.

Yet he conceded that "the hard truth is that some of the jobs that have been lost in the auto industry and elsewhere won't be coming back."

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