Tuesday, November 14, 2006

Big 3 Meet With Bush

Live In Play, www.briefing.com, 14-Nov-06, 14:14

GM Summary of GM, DCX, F meeting with President Bush (35.35 +0.26)

Group consisting of Chrysler Group president and CEO Tom LaSorda, Ford Motor Company president and CEO Alan Mulally, and General Motors chairman and CEO Rick Wagoner issue press release discussing meeting with President Bush. "We told the President we support his and Congress' call for the continued development and use of renewable fuels as part of lessening America's dependence on imported oil... During our meeting we briefed the President on the tough decisions we are taking to make our businesses more competitive... We outlined the serious competitive disadvantage that upwardly spiraling health care costs are placing on our industry and America's manufacturing base... Another area of competitive concern we discussed with the President is the massive automotive trade imbalance with Japan and the artificially weak value of the yen... Finally, we discussed the rising cost of production materials such as domestic steel."