Auto task force to visit GM, Chrysler today to check out their vision
Now that President Obama had appointed the task force that will study the future of the auto industry in this country, its time for them to get to work. The team spent last week looking over the latest viability plans from General Motors and Chrysler. Today, Steven Rattner and Ron Bloom, advisers to the task force will come to Michigan where they will sit down with officials at both GM and Chrysler to discuss the plans and learn more about both company's future product directions. While they are at GM, they will also get a close up look at the Chevy Volt and its powertrain technology. Presumably, Chrysler will also be sharing what it has under the hoods and floors of its EVs and ER-EVs. Both companies will need further cash infusions in the next few weeks in order to keep paying the bills.
[Source: Detroit Free Press]
Reader Comments (Page 1 of 1)
Tim 9:39AM (3/09/2009)
Wow, an investment banker and a Wall Street financier trying to fix the auto industry. Is this a joke or is this a remake of the Three Stooges go to Mars?
OH right. This is "change"...
Rattner has made no secret of his desire to one day be Secretary of the Treasury. His wife, Maureen White, was the finance co-chair for Hillary Clinton's presidential bid and a former national finance chair of the Democratic National Committee.
Bloom was once the special assistant to the president of the United Steelworkers union. A hat tip, a wink and a nod to “change” with NO insider foxes in this hen house. (snicker snicker)
"A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine."
-Thomas Jefferson
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Chris 11:45AM (3/09/2009)
It is a "change" from all that money the Bush administration gave away without any oversight. I for one am glad to see that someone/anyone is holding at least some of these companies responsible for using these "loans" for what they are actually intended for.
If GM and Chrysler can't show they have a viable plan to bounce back then they don't deserve more "loans" to go down a dead end road with Chapter 11 at the end anyway.
The way I see it there are two Republican options with respect to GM/Chrysler:
1.) Stick to the party line of less government and more free market. No more handouts. In this scenario GM and Chrysler is already DOA (see previous performance and loans).
2.)Eat crow and let the government bail the two out (preferably with some way to monitor them and make sure they are actively trying recover and become profitable).
As far as the Jefferson quote, maybe you should adapt that to include the actual 2008 election results instead of using the Bush era one as reference.
Yikes 9:55AM (3/09/2009)
LOL, their "VISION"
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Doug 12:56PM (3/09/2009)
Presumably, Chrysler will also be sharing what it has under the hoods and floors of its EVs and ER-EVs.
Quick! Scratch off the labels and write ENVI on it!!
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jpm 1:00AM (3/10/2009)
Don't waste time looking over GM's plan and their crappy Volt, just let them go bankrupt and get on with life.
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