Ford Motor Co. Executive Chairman Bill Ford Jr. praised President Barack Obama‘s handling of the auto bailout, the Detroit News reported on Tuesday. Ford said that he had met briefly with Obama in the Oval Office, and had expressed his belief that the $62 billion bailout of GM and Chrysler was necessary and handled fairly.

“I complimented him on the way he’s handled the industry,” Ford said. “Preventing the collapse of the supply base was something that they did swiftly and forcefully, and it worked.”

Ford characterized the meeting as “casual” as he was primarily in town to meet with Commerce Secretary Gary Locke to discuss results of the National Summit convened by the Detroit Economic Club in Detroit in June.

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