LANSING - Lt. Governor John D. Cherry, Jr. today issued the following statement on the report issued by President Obama's Automotive Task Force:
 
"It appears that the federal verdict on the future of General Motors and Chrysler is still out.  The Automotive Task Force has established some pretty tough preconditions for the automakers to meet before the federal government provides additional assistance to keep GM and Chrysler afloat.  I understand that it will take tough medicine to undo years of economic neglect of the nation's industrial base.
 
"However, I hope the preconditions were not designed to force bankruptcy by any name.  It is important to understand that bankruptcy of American automakers is one step removed from putting the nation's entire industrial base into bankruptcy.
 
"I am also very concerned for the people of Michigan.  This announcement is the economic equivalent of a hurricane warning.  It does not matter whose fault all of this is.  It does not matter who is putting forth a solution.  The bottom line is that thousands of families in Michigan and the Midwest are economically devastated.  As this process unfolds, I will be encouraging our federal officials - elected and appointed - to aggressively join us in helping our citizens and businesses to weather this storm and to invest in Michigan's future economy."

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