Big 3 CEOs and President conclude meeting

The meeting between the President and the CEO's of the Big Three has ended. I watched a short post-meeting interview the Big 3 CEO's gave, which focused on three issues: ethanol, trade policy and healthcare. Overall currency issues dominated the question and answer session, followed by healthcare; however, GM's Rick Wagoner opened the interview with the statement that the Big 3 were ready to offer 50% of their vehicles as flex-fuel vehicles by 2012. It seemed obvious that Wagoner was trying to hammer home the point that the Big was doing their part (Of course you have to believe that E85 alone is a game changer for the industry) to counter the President's previous 'build relevant vehicles' statement.

All three CEO's said the meeting went extremely well. While Wagoner admitted that the President didn't agree with every point made by the Big 3, Ford's CEO Alan Mulally added that he was very impressed with President's knowledge of the issues and the quality of the dialogue while also noting that he felt the Bush administration was a "very supportive administration" - almost countering the pre-meeting politicking by Michigan Democrats.

Although Wagoner hogged the mic., I was very impressed with Mulally's optimism when he did speak. Mulally concluded the interview by answering a question that the auto industry did not expect a government bailout, and that the industry needed to do a lot more to build more fuel efficient vehicles that consumers want.