President Barack Obama, on a tour that previews some of the subjects he is expected to hit on the upcoming State of the Union address, was in Michigan this week touring a Ford plant.
Just as it was rumored, Obama chose Ford as part of his trip – even though the second-largest US automaker benefited the least from the governmental program that bailed both the auto and financial sectors. General Motors was not an option after last year’s huge scandal over deadly ignition switches and the former Chrysler Group – now called FCA US is today a different entity, with global ambitions under the rule of its Fiat Chrysler Automobiles NV parent. “America’s resurgence is real,” commented Obama after visiting a Ford plant near Detroit, sitting in a new Mustang and walking around the complex together with Ford CEO Mark Fields and Executive Chairman Bill Ford.
The President noted that the federal-backed bailout of the auto industry was actually unpopular – and we can also note it ended in losses for the taxpayers (though recovered from the excess recorded in the financial bailout). Obama is gearing up to make his annual State of the Union address on January 20 to a new Congress – for the first time his presidency completely under the control of Republicans. On the other hand his desire to form new trade agreements – such as the Korean deal – has many detractors among the auto industry insiders, claiming that they generally undermining the core of the US economy – which is considered by many to be the manufacturing sector.
Via Automotive News