White House: Obama Likely To Make Remarks On GM Monday
28 Mai 2009 - 9:01PM
Dow Jones News
President Barack Obama is likely to make public remarks on
General Motors Corp. (GM) on Monday, the White House said.
Administration spokesman Robert Gibbs said Thursday the
president would discuss the auto maker "presumably on Monday," but
declined to say if Obama would announce that GM is going into
bankruptcy.
The White House won't make any final decisions on whether to
force GM into bankruptcy until after 5 p.m. Saturday, the deadline
for the company's unsecured bondholders to accept a new
debt-for-equity exchange, an administration official said earlier
Thursday.
A host of cabinet and other administration officials will fan
out across the Midwest in the days after Obama's Monday speech to
talk up the auto-sector recovery effort with affected communities
and workers.
According to the White House, 12 officials, including
Transportation Secretary Ray LaHood and Energy Secretary Steven
Chu, will make appearances in Ohio, Michigan, Indiana and Wisconsin
June 2-5.
"At each event, they will discuss immediate ways the federal
government is cutting through red tape to bring relief to auto
communities and achieve long-term economic revitalization for our
communities that depend on the auto and manufacturing industry,"
the White House said in a statement.
-By Henry J. Pulizzi, Dow Jones Newswires; 202-862-9256;
henry.pulizzi@dowjones.com