U.S. hires advisers on what to do with GM and Chrysler

Posted: Feb 06, 2009
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Prior to naming a ‘car czar’ the U.S. government has reportedly hired two law firms with extensive bankruptcy experience and the invest bank Rothschild to advise the U.S. Treasury on the restructuring of General Motors and Chrysler with taxpayers bailout money.

According to a person familiar with the matter, New York law firm Cadwalader, Wickersham & Taft LLP and Chicago-based law firm Sonnenschein, Nath & Rosenthal and Rothschild are working with U.S. Treasury officials as they get ready to review turnaround plans that will be submitted by the two automakers on Feb. 17.

Automotive News reports that a spokeswoman from Sonnenschein confirmed that the firm is involved in advising the Treasury on the U.S. automobile industry. Cadwalader had no comment while Rothschild, GM, Chrysler and the U.S. Treasury could not be reached.

We’re really looking forward to Feb. 17.


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  • zermatt

    The Greening of GM and Chrysler continues. I expect that any restructuring will be to turn them into niche manufacturers that will please the Greens.

    Besides the obvious brand and model eliminations, we can expect that racing sponsorship will be eliminated, tuner parts will cease to exist and R&D will be purely focused on Green priorities – not performance or other technology advances.

    For auto enthusiasts, this means that Ford would be the sole American flag bearer for the emotional tie that makes driving so much fun.

    Ford – stay strong and stay independent.

  • Ivan Gutierrez

    They should hire bobmarley and zermatt who I'm beginning to think was the original justmatt.

  • Bobmarley

    GM and Chrysler a laging behind everyone in the green technology department so i dont think they would resort to that? unless they can make a strong enough case with the Volt technology and Chryslers EV technology…which so far has yeilded nothing but a lot of hype and delay.

    For GM I would suggest eliminating everything but their truck lines and the Corvette team and only keep the Chevrolet brand (GMC sounds too similar to GM which a lot of people are going to recognize as “that company that went bankrupt”).

    Chrysler is privately owned anyways so why not just let Cerberus take care of their own mess (chapter 11 maybe?).

  • zermatt

    Sorry, no relation to justmatt.

  • Ivan Gutierrez

    ha ha Sorry my mistake. whatever happened to that guy (kermit the frog), he was a regular here and then all of a sudden he disappeared.

  • zermatt

    The Greening of GM and Chrysler continues. I expect that any restructuring will be to turn them into niche manufacturers that will please the Greens.

    Besides the obvious brand and model eliminations, we can expect that racing sponsorship will be eliminated, tuner parts will cease to exist and R&D will be purely focused on Green priorities – not performance or other technology advances.

    For auto enthusiasts, this means that Ford would be the sole American flag bearer for the emotional tie that makes driving so much fun.

    Ford – stay strong and stay independent.

  • Ivan Gutierrez

    They should hire bobmarley and zermatt who I'm beginning to think was the original justmatt.

  • Bobmarley

    GM and Chrysler a laging behind everyone in the green technology department so i dont think they would resort to that? unless they can make a strong enough case with the Volt technology and Chryslers EV technology…which so far has yeilded nothing but a lot of hype and delay.

    For GM I would suggest eliminating everything but their truck lines and the Corvette team and only keep the Chevrolet brand (GMC sounds too similar to GM which a lot of people are going to recognize as “that company that went bankrupt”).

    Chrysler is privately owned anyways so why not just let Cerberus take care of their own mess (chapter 11 maybe?).

  • zermatt

    Sorry, no relation to justmatt.

  • Ivan Gutierrez

    ha ha Sorry my mistake. whatever happened to that guy (kermit the frog), he was a regular here and then all of a sudden he disappeared.