Obama seeks help for ailing auto industry

Source: Agencies  |   2008-11-12  |     ONLINE EDITION

WORLD leaders hoping to meet US President-elect Barack Obama at an economic summit in the US capital this weekend will be disappointed. But as he works on forming his new government, Obama is finding it difficult to remain on the sidelines as Democrats in Congress line up in support of a financial bailout for the ailing US auto industry.

Obama has urged the Bush administration to do more to help US automakers and aides said he raised the issue with President George W. Bush on Monday in their first face-to-face meeting at the Oval Office. Officials familiar with the conversation Monday said the president replied he was open to the idea.

Obama does not plan to be in Washington or receive foreign visitors in Chicago over the weekend. He long ago ruled out attending this weekend's summit, saying the US has only one president at a time, and it's still Bush.

Before the election, Bush announced that the world's 20 largest industrialized nations and emerging economies would meet in Washington this Saturday.

Obama's aides plan to keep tabs on -- and possibly participate in-- the summit where world powers hope to craft remedies to the global financial crisis.

"We have one president at a time, and it's important that the president can speak for the United States at the summit," John Podesta, Obama's transition chief, told reporters yesterday. Podesta, however, noted that Obama had urged such a summit during the presidential campaign.

Leaders attending the G-20 meeting are certainly interested in Obama's economic stance.

In phone calls last week, Obama accepted congratulations from leaders of countries including Canada, France, Italy, Pakistan, Saudi Arabia, and Spain. The global financial crisis was among the topics he discussed with key US allies.