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The President and Detroit47:57
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General Motors Chief Executive Officer Richard Wagoner listens as President Barack Obama, not pictured, speaks about the economy in Washington on March 12, 2009. GM confirmed on Monday that Wagoner will step down immediately at the request of the White House, and new directors will make up the majority of GM's board. (AP)
General Motors Chief Executive Officer Richard Wagoner listens as President Barack Obama, not pictured, speaks about the economy in Washington on March 12, 2009. GM confirmed on Monday that Wagoner will step down immediately at the request of the White House, and new directors will make up the majority of GM's board. (AP)

Rick Wagoner, chairman and CEO of General Motors, is out of a job. Directed to go by the Obama administration as new billions in federal aid are weighed for GM.

And more change is coming. President Obama is speaking today on the fate of the American automotive industry, and what Washington will require to keep pumping in support. Chrysler: told to pair up with Italy’s Fiat to stay in the game. Bankruptcies in Detroit: not out of the question. The warranty on your American-made car may be backed by Uncle Sam.

In this hour, we will listen to the President’s speech on this country’s auto-making future, and weigh the measures the President is prescribing — and the stakes.

This hour, On Point: President Obama speaks on the future of Detroit.

You can join the conversation. Are you ready to see GM and Chrysler go down? To pour in what resources to save them? With what conditions?

Guests:

Joining us from Ann Arbor, Michigan, is Micheline Maynard, senior business correspondent for The New York Times. She writes about Rick Wagoner, GM's outgoing CEO, in today's paper.

And from Hanover, New Hampshire, we're joined by Matthew Slaughter, associate dean and professor of international economics at Dartmouth College’s Tuck School of Business.

This program aired on March 30, 2009.

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