An Ultimatum for Carmakers From Obama – NYTimes.com:
“‘And so today, I am announcing that my administration will offer G.M. and Chrysler a limited period of time to work with creditors, unions and other stakeholders to fundamentally restructure in a way that would justify an investment of additional tax dollars; a period during which they must produce plans that would give the American people confidence in their long-term prospects for success,’ Mr. Obama said.”
(Via NY Times.)
If only private shareholders, particularly institutions, would be so activist, we wouldn’t be in a far better position.