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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.

Schreyer: More than a designer of products I wish to be an architect of Hyundai's brand image

There's no denying Peter Schreyer has been instrumental in turning around Kia's image from a manufacturer of wheeled white goods in a creator of design-led products. Now his attention turns to sister company Hyundai in his role as chief design officer for both companies and his plans are no less ambitious. "More than a designer of products I wish to be an architect of Hyundai's brand image," he told an audience at Hyundai's European headquarters, explaining how his job is not simply 'styling' but communicating the brand's message right down to details such as the seatbelt warning buzzer.

Tesla, Chrysler take federal loan payment dispute public

Tesla CEO Elon Musk took to Twitter Thursday to respond to Chrysler's barb that Tesla wasn't the first American automaker to repay the U.S. government for aid. Tesla, which paid off the remaining $451.8 million on its 2010 Department of Energy loan Wednesday, received $465 million under the highly politicized Advanced Technology Vehicle Manufacturing loan program.