news Obama "confident" GM can thrive after restructuring

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Obama "confident" GM can thrive after restructuring



Sat May 23, 1:39 AM





WASHINGTON (Reuters) - U.S. President Barack Obama said in an interview released on Saturday he was confident General Motors would thrive after restructuring, but he made no mention whether the ailing automaker might have to enter bankruptcy to complete reorganization.


Obama, in an interview with the C-SPAN cable television network, said he wanted the government to get out of the auto business as soon as possible, and he said if some auto jobs never return, the government will work to ensure workers are effectively retrained.

"Ultimately, I think that GM is going to be a strong company and we are going to be pulling out as soon as the economy recovers and they've completed their restructuring," Obama said.

(Writing by David Alexander, editing by Jackie Frank)