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Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

Prize for budding young motoring journalists

By Peter Adams Motoring Issues 03 June 2009 12:39 Aspiring young car writers searching for a gateway into motoring journalism may want to start typing and enter The Sir William Lyons Award 2009. The Sir William Lyons Award, which is sponsored by Jaguar and promoted by The Guild of Motoring Writers, is free to enter and open to anyone aged between 17 and 23, of British nationality and resident in the United Kingdom. The winner will receive a trophy and a cheque for £2000 at the Guild’s annual dinner and awards evening in London.

Ford sales rise 40 percent, Chrysler up 61 percent as industry rebounds

Ford Motor Co. posted a 40 percent increase in U.S. sales last month and Chrysler Group soared 61 percent as the industry showed signs of rebounding from an August slump.