Office of the Press Secretary

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For Immediate Release                  February 17, 2009

“The Administration has now received restructuring reports from General Motors and Chrysler. We appreciate the effort that these companies and their stakeholders have made, and the President’s team will be reviewing these reports closely in the days ahead. It is clear that going forward, more will be required from everyone involved – creditors, suppliers, dealers, labor and auto executives themselves – to ensure the viability of these companies going forward.”