This From a "Constitutional Lawyer"?

"His [Obama's] announcement Monday of a new position on bailing out Detroit went beyond a desire to be sure tax dollars were not wasted in bailing out struggling companies. It put the Obama administration squarely in the position of adopting a so-called industrial policy, in which government officials, not business executives or the free market, decided what kinds of products a company would make and how it would chart its future." [link]

I am pretty sure there is nothing in the Constitution that grants this type of power to the president. Industry is not and should not be the business of government. The business of government is very strictly laid out in the U.S. Constitution. However it is rarely if ever adhered to except when the government can use it for its purposes.