Category Archives: bailouts

Report: GM CEO stands up for Chevy Volt in D.C. hearing; Issa tells NHTSA: "I don’t believe you"

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Filed under: Hybrid , Government/Legal , Safety , Hatchback , Chevrolet , Electric What a surprise. Today’s Congressional hearing over the Chevrolet Volt fire and the resulting investigation by the National Highway Traffic Safety Administration turned out to be contentious. The hearing took place in the Committee on Oversight and Government Reform’s Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending. Just from the title of the event – “Volt Vehicle Fire: What did NHTSA Know and When Did They Know It?” – it was plain to see that chairman Darrell Issa was not looking to mess around

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Report: GM CEO stands up for Chevy Volt in D.C. hearing; Issa tells NHTSA: "I don’t believe you"

Report: House votes to end car czar’s tenure

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Filed under: Etc. , Government/Legal The czars – all of them – are dead in the House of Representatives. Even though every “czar” position in government had already been vacated, the House passed a spending bill that officially eliminated the role and forbids the White House from naming more. In some cases, automotive and banking bailouts and executive pay especially, the czar himself was as polarizing as the job he had to do, and the enduring, transformative effects of their work can explain why politicians might target them.

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Report: House votes to end car czar’s tenure

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: Chairman of House Oversight asks Ford why it pulled ad

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Filed under: Etc. , Government/Legal , Marketing/Advertising , Chrysler , Ford , GM The U.S. House of Representatives is investigating the motives behind the recent decision by Ford to pull an ad from its YouTube account that’s critical of the government bailouts of General Motors and Chrysler , only later to restore it.

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Report: Chairman of House Oversight asks Ford why it pulled ad