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Detailed text transcripts for TV channel - MSNBC - 20100920:19:29:00

we are now seeing the three u.s. automakers making a profit for the first time in a long time. they are hiring for the first time in a long time. and that has huge ramifications because there are suppliers and the restaurant next to the plant that's opened and -- so it has provided a lot of confidence in a lot of these communities. but it wasn't popular at the time. now, there were some folks on cnbc who were unhappy with our decision partly because they had made bets essentially against the auto industry or they had senior debt and we said, you know what, if the workers are giving up something f management is giving up something, if the government is giving up something, the taxpayers are giving up something, you're not going to get 100% of what you bargained for in terms of some of the investments that you made here. you're going to have to take a cut, too. and they got very mad about it. we didn't do that because we were anti-business. we were doing it because we wanted to make sure that these businesses would continue.

Profit , Time , Plant , Automakers , United-states , Suppliers , Restaurant , Ramifications , Three , Lot , Folks , It