Obama buildup sweeps Trinidad and Tobago

Obama-mania has struck Trinidad and Tobago like a storm - though the Caribbean nation is set to host 34 country leaders from across the Americas, residents only seem to care about United States President Barack Obama.

'I would like to shake his hand,' said a Trinidadian, named Shanti McKenzie. McKenzie was dressed in a T-shirt with Obama's face. 'It's a good thing that he's coming,' she said. 'I wish he was our new prime minister here.' Like many of her compatriots, McKenzie is convinced that Obama 'will be a great change' for Latin America and the Caribbean.

'I hope he can also bring a change in Trinidad,' she gushed. Shanti McKenzie made her way toward the centre of Port of Spain, stopping at some of the many street stands selling all kinds of Obama-themed souvenirs.

Arestes Belford is selling more up-to-date membrane, including photographs with the coats of arms of Trinidad and the United States and a reference to the Summit of the Americas.

Belford is from Trinidad and Tobago but currently resides in Brooklyn, New York. He could not miss an occasion like this to travel to his native country. 'It's the first black president of US and the first one to come to Trinidad in a very long time. I can't remember the last US president who came to Trinidad,' he said.

Behind Belford, the giant screen over a fast-food restaurant between adverts showed music videos from local artists that are dedicated to Obama. 'Barack, Barack, it's Obama, first black president in White House, yo. A moment I'm so happy to see,' raps local star Third Bass on the screen in the main avenue of the country's capital.

'The big boss is coming, the big boss. After God, he's the boss,' he stressed. 'The world respects Obama, we also do.' Beyond the international echo of the presence of the first black US president in Trinidad and Tobago, Albert rejoices about its more mundane aspects.

‘We need many things getting done, and nobody listens to us. Now Obama is coming, and we are getting everything done, the streets,' he said. 'I wish he would come every six months, and then everything here would be very nice.'

CEO of General Motors resigns at Obama's command

Obama government has asked Rick Wagoner, the chairman and CEO of General Motors, to quit, but has refused to reveal why this decision was taken. General Motors issued a vague statement Sunday night that did not officially confirm Wagoner's departure.

"We are anticipating an announcement soon from the Administration concerning the reorganization of the U.S. auto industry. We continue to work closely with members of the Task Force and it would not be appropriate for us to speculate on the content of any announcement," Politico quoted the company, as saying.

The surprise announcement about the classically iconic American corporation is perhaps the most vivid sign yet of the tectonic change in the relationship between business and government in this era of subsidies and bailouts.

Wagoner has been CEO for eight years and at General Motors for more than 30 years. It is not yet clear who would replace him, or what role the administration would play in that process.

Business sources had said the White House intended very tough medicine in Monday's announcement, which turned out to be an understatement. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, bondholders, shareholders, retirees and the communities where plants are located, the sources said.

Earlier this month, President Obama agreed to loan five billion dollars to American auto parts manufacturers to help them weather the steep drop in new vehicle orders and the financial uncertainty at the Big Three.

Obama and his aides may have honed in on Wagoner for two reasons. First, his company is asking for the most in total federal aid: 26 billion dollars, a figure administration officials fear could grow even larger. Second, the General Motors chief was tied more directly to the ill-fated decisions that that brought much of the American auto industry to the brink of collapse.

Wagoner joined General Motors in 1977, has had a senior role in General Motors management since 1992, and became CEO of the company in 2000. He is considered responsible for increasing focus on trucks and SUVs-at the expense of the hybrids and fuel efficient cars that have become more popular in the last couple of years.