Wagoner to Obama: D2.8's "relatively Weak Balance Sheets" Require Federal Assistance

Fresh from their closed door meeting– which included Ford CEO Alan Mulally– presidential hopeful Barack Obama and GM CEO Rick Wagoner took the stage at Carnegie Mellon University to discuss federal handouts. As reported by The Detroit News, Barack set 'em up. "How do we shape our energy future in a way that allows GM to remain competitive, keeps some of the best workers in the world on their jobs [some?] and generates profits for the company and shareholders?" GM's jeffe knocked 'em down. "Wagoner sounded a note of optimism," the DeN notes. "Noting GM's plan to introduce the plug-in hybrid Chevrolet Volt by 2010 and more advanced research on hydrogen fuel-cells. But he said the researchers developing batteries for hybrids and taking hydrogen power from the lab to the highway need federal research money. And he asked for government help to offset the high costs of newer technologies for consumers — aid that traditionally has come in the form of tax credits." "We need to provide some support to make sure these new technologies are affordable to consumers," Wagoner said. Anything else? "Wagoner suggested that the carmakers' 'relatively weak balance sheets' make it difficult for them to make the large capital investments needed to shift production lines to new vehicles." So that "we" is "we the people." As in you. And your tax dollars. To GM. To pay for them to make better cars. In case you hadn't figured that out.