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Obama gains auto-makers confidence ahead of elections

By on November 2, 2012

With less than four days to the biggest election on earth, the U.S Presidential elections, the Automakers have given President Barack Obama a thumps up and their maximum support ahead of the elections.

In 2009 President Obama crafted an $80billion rescue plan for General Motors and Chrysler motors group to manage the bankruptcy of the companies and put them back in shape to be competitive in the Global auto-making industry.

Analysts and Industry watchers believed that President Obama’s bold step and decision to bailout the automakers, may be one of the change phenomenon he brought to government’s role in the economy.

It is on record that his opponent Governor Romney criticized the auto-rescue plan of the Obama Administration, and that now is costing him key votes in Ohio State.

Some republicans believe that if they were auto-workers they would have voted President Obama because his bailout plan saved jobs in the Industry, which is a good National Policy.

GM’s and Ford’s North American operations earned a combined $11.95 billion in pre—tax profit through 2011, its highest since April a positive report from companies that would have been dead long ago but not for timely intervention.