Obama endorses Bush administration´s decision to help auto industry

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Source: CCTV.com | 12-20-2008 12:34

US President-elect Barack Obama has endorsed the Bush administration's decision to help America's troubled auto industry. He urged Detroit's Big Three auto companies to seize the opportunity and come up with a sustainable plan for survival.

US President-elect Barack Obama has endorsed the  Bush administration's decision to help America's  troubled auto industry.

Obama spoke just a few hours after the Bush administration announced the emergency bailout plan. He said while it's absolutely necessary to restructure the companies in order to save the industry, it's also important to work toward creating more fuel-efficient cars.

A month before taking office, Obama has also completed his Cabinet. He has nominated Republican Representative Ray LaHood of Illinois as transportation secretary, Californian Representative Hilda Solis as labor secretary, former Dallas Mayor Ron Kirk as US trade representative, and venture capitalist Karen Mills as head of the Small Business Administration. All four appointments need to be confirmed by the Senate.

Editor:Zhang Ning