Word: elections
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President Bush's fiscal lifeline for GM and Chrysler, announced at the White House Friday morning, amounts to a $13.4 billion handoff to the incoming Administration of President-elect Obama. The deal is rife with indistinct targets the automakers must meet to avoid being forced to repay the loan in three months, squishy conditions for union sacrifices and a deadline that can be changed under numerous circumstances. And of course the entire thing can be renegotiated at will by the incoming Administration...
Still, as the confidence began returning to Detroit, President-elect Barack Obama was at a press conference issuing a sober reminder. Auto industry leaders, he said, should take note "that the American people's patience is running out," and that Detroit must seize on this opportunity and make tough reforms...
President-elect Obama named Harvard physicist John P. Holdren as his chief science adviser, the Kennedy School announced Friday, marking the latest in a string of Harvard faculty appointments to Obama's transition team or top advisory positions...
...President-elect found not only a scientist of the highest caliber, but someone who has been steeped in policy," wrote Bart Gordon, the democratic Tennessee representative who chairs the U.S. House Committee on Science and Technology, in an e-mail. "This is a strong message that science will no longer be kept at an arm's length in the White House...
...Holdren could not be reached for an interview Friday, but in statement released by the Kennedy School, he said the opportunity to work with President-elect Obama and his team was "the greatest opportunity—and the greatest responsibility—of my professional life...