Now, I'm no fan of the American auto industry either, but for much different reasons than Obama. Obama sees the auto industry as a whole as evil greedy capitalist pollution profiteers, and clearly takes joy in overseeing their demise. He sees the collapse of the American auto industry as a success of his ideals.
I, on the other hand, dislike what the American automobile makers have allowed to have happen to their once prosperous industry. One has to ask the question: Why are the foreign owned, yet locally manufactured, automobiles doing just fine in today's economy, yet the American manufacturers are struggling? The answer: Unions. The successful auto makers never bowed to union pressure. Foreign companies realized the hazard of giving up control of their own companies to socialist union thugs, pushing unsustainable pension plans and benefits. If the American auto industry had the spine to kick them out years ago, they'd be much better off now.