Watchlist Sponsored By :
- Obama says Boosting US Jobs is Top Priority
- Tuesday's Heavy Dose of Data to Dictate 'Risk' Behavior
- Hewlett-Packard Earnings Rise, Match Guidance
- HP Comes in As Expected; Is It Time to Buy?
- Cramer: What Monday’s Housing Number Really Means
- Why the Dollar Will Likely Stay Weak for Some Time
- Bear, Lehman Execs Weren't Wiped Out by Crisis: Study
- How Real Estate Investors Skew Housing's Reality
- Wall Street 'Bonuses' Disappear—but Only in Name
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Nov. 23: Unusual Volume Leaders
- Help Wanted—Please Run $4 Billion University
- Apple Comes to AT&T's Rescue
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Paul: Audit the Fed
- Wave of Debt Payments Facing US Government
- HP Comes in As Expected; Is It Time to Buy?
- Buffett's Wealth and Fame Hasn't Helped 'Warren' As a Name
- Hewlett-Packard Profit Rises, Matches Guidance
- Holiday Travel Outlook
- Nov. 23: Unusual Volume Leaders
- Madoff—The Holiday Drink
- Cramer: Buy These Banks, If...
powered by digg
Obama's 1st Move Should Be to Save Autos: Ross
Topics:Employment | Transportation | Automobile Industry
Sectors:Automobiles and Parts
Companies:General Motors Corp
Text Size 
The obvious and easy first move for President-Elect Barack Obama is to put some money into the automobile industry to save a large number of jobs, financier Wilbur Ross said Wednesday.
General Motors and Chrysler "need something like $10 billion to pay the one-time cost of merging, that's a very cheap investment," Ross said.
Just stabilizing the auto industry will save a large numbers of manufacturing and auto supplier jobs and "do an awful lot of good for the economy," he said.
It would also be a consistent with the support Obama has with labor unions, Ross added.
"It would be a very quick, easy thing," Ross said. "I can't imagine a cheaper way to protect a very, very large number of jobs."
© 2009 CNBC.com
Print
Email
- The show attracts a big TV audience every year, but this year it may take on even more importance.
- …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
- Congressman Ron Paul explains to Squawk Box why he’s pushing legislation to audit the Federal Reserve.
- CNBC’s Phil LeBeau took a test drive of GM’s flagship electric car. Here’s what he thought of the Volt.
- The energy company Power Efficiency is building tools that regulate the power electric motors use.
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
MORE FROM CNBC
TOPIC : Automobile Industry
Data is a real-time snapshot *Data is delayed at least 15 minutes