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India On Media |
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| Money
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| Obama vows aid for car industry |
| US President-elect Barack Obama says he will not allow the country's car industry to collapse, but any state help must come with strict conditions
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| UNITED STATES OF AMERICA
, 8-December-2008
0:55:22 AM |
| The industry and its stakeholders would have to restructure, he told NBC television's Meet the Press.
Congress and the White House have been holding talks on a plan to rescue the beleaguered US car industry.
Mr Obama warned the economy would get worse before it improved, but any aid plan needed strong regulations.
He also named Japanese-American General Eric Shinseki as Veterans' Affairs chief.
He said Gen Shinseki was exactly the right person to honour returning soldiers.
The general left his former job as US Army chief of staff after disagreeing with the then Defence Secretary, Donald Rumsfeld, over the number of US troops needed to control Iraq after the invasion.
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