Presidential advisor David Axelrod said this morning on “This Week”that President-elect Obama would be against any bailout for the big three that does not show a business plan that brings them back to solvency. While Axelrod did not say what such a plan should entail it sounds suspiciously like the restructuring that many have called for in order to justify a massive government infusion of cash. It does not appear that Obama desires to just give over $25 billion without someone showing how that money will be spent, and what the BUSINESS PLAN is for recovery. Show him the numbers, and he will show some government money. Axelrod also suggested that the CEO’s fly commercial on their next trip to Washington. Pretty good advice! From the “This Week” website:
“We all have a stake in the survival of the auto industry in order to do that they have to retool,” Axelrod told me on “This Week.”
Obama’s former chief strategist said Obama hopes the Big Three automakers come back to Washington in early December — with a plan.
“If they don’t do that then there is very little the tax payers can do – I hope automakers come back to congress, hopefully on commercial flights,” Axelrod said.
“He said from the beginning that we need to help but we can’t give a blank check and I agree with that,” he said.