The day was dominated by the decision to have Chrysler Motors to file for bankruptcy. The decision was made when a few of the Chrysler debt holders would not agree to a restructuring plan. The President announced the news at press appearance a little after noon. The President expressed confidence that Chrysler could emerge from bankruptcy quickly and would be a stronger company. Remarks
The President then met with Senators John McCain, Carl Levin, Rep Ike Skelton and Rep John McHugh.
Later in the afternoon the President together with the Secretary of Defense hosted a run called "White House to Light House" Wounded Warrier Soldier Ride. Both the President and the Secretary of Defense Gates delivered remarks.
The President ended his day with meeting with Treasury Secretary Geithner and Secretary of State Clinton.