Category Archives: auto task force

Report: Ex-car czar Rattner says Auto Task Force should have pushed for more cuts

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Filed under: Government/Legal , Chrysler , GM , UAW/Unions The government’s Auto Task Force was given the difficult task of saving General Motors and Chrysler at a time when the credit markets were frozen and the economy was in chaos. The team ultimately got the job done by ushering the two iconic companies through extraordinarily short bankruptcies. Former car czar Steven Rattner headed the Task Force through those tough times, and though he characterizes the bailouts as a success , he feels the United Auto Workers could have given more. The Detroit News reports that Rattner told the Detroit Economic Club that the Task Force should have insisted on UAW wage cuts

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Report: Ex-car czar Rattner says Auto Task Force should have pushed for more cuts

Report: Former car czar Rattner impressed by quick Detroit 3 turnaround

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Filed under: Etc. , Government/Legal , Chrysler , GM , Earnings/Financials Steven Rattner , who headed up the Obama Administration’s Auto Task Force during the quick-rinse bankruptcies of Chrysler and General Motors , is more pleased with the success of the auto bailouts than he ever thought he would be. “Overhaul,” Rattner’s controversial memoir of his time heading up Team Auto and navigating the murky Beltway waters is now out in paperback with a new epilogue that showers high praise on Sergio Marchionne and the efforts Chrysler has made, as well as recounting getting misty watching the new General Motors start trading on the floor of the New York Stock Exchange. Throughout “Overhaul,” it’s clear that Chrysler almost didn’t make it, which makes the latest news of a $212 million quarterly profit in Auburn Hills all the more incredible to Rattner

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Report: Former car czar Rattner impressed by quick Detroit 3 turnaround

Report: Judge tosses out suit by Delphi pensioners against Treasury

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Filed under: Government/Legal The Detroit News is reporting that a federal judge has thrown out a portion of the lawsuit brought against the federal government by Delphi retirees. The former employees of the automotive supplier brought suit against the federal government after their pensions were terminated in bankruptcy proceedings. U.S. District Judge Arthur Tarnow dismissed claims against the U.S.

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Report: Judge tosses out suit by Delphi pensioners against Treasury

Report: ‘Car Czar’ post nixed as part of federal budget deal

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Filed under: Etc. , Government/Legal , Earnings/Financials Last week, the government avoided a costly shutdown by cutting $38 billion from the 2012 federal budget. The American people are just now hearing what those cuts consist of, and it appears the auto industry and industry regulation have been affected. The Detroit News is reporting that the currently vacant Car Czar posts was among the positions that didn’t make the cut

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Report: ‘Car Czar’ post nixed as part of federal budget deal

Rattner: GM and Chrysler will be "gushing profits"

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Filed under: Government/Legal , Chrysler , GM , Earnings/Financials General Motors and Chrysler LLC will lead automakers to “gushing profits” when annual U.S. sales reach 15 million vehicles, said Steven Rattner, the former head of the federal government’s auto task force, on Bloomberg TV last Friday. “This industry has been restructured to make money,” Rattner said to Bloomberg . At 15 million vehicles a year, “they will be gushing profits.” That 15 million level is expected to be reached at mid-decade, according to predictions by companies like Toyota and GM.

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Rattner: GM and Chrysler will be "gushing profits"

Report: Ex-car czar Rattner nears SEC settlement

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Filed under: Government/Legal According to Reuters , the Securities and Exchange Commission is set to settle with the former head of the Obama Administration’s auto task force, Steven Rattner . Earlier this year, the SEC charged Rattner with participating in a pay-to-play pension program, but the commission is expected to announce today that the former car czar has agreed to pay a fine of more than $5 million and accept a multi-year ban from the securities industry. New York Attorney General Andrew Cuomo has led an investigation into fraud surrounding the state’s $132 billion pension fund that has resulted in seven guilty pleas.

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Report: Ex-car czar Rattner nears SEC settlement