Category Archives: Steven Rattner

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: 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: Ex car czar Bloom asked by Congress to clarify statements made under oath

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Filed under: Government/Legal Ron Bloom , the former car czar under President Barack Obama , is being asked to clarify some of the statements he made under oath to the United States Congress last month. Three members of the Congressional oversight committee are specifically interested in the Bloom’s denial that he remarked “I did all this for the unions” during a farewell speech. Representative Dan Burton, R-Ind., questioned Bloom about the statement at a hearing of the Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending. Now Congress is giving the former car czar a chance to correct his statement.

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Report: Ex car czar Bloom asked by Congress to clarify statements made under oath