Tag Archives: Ron Bloom

Ron Bloom leaves his position in White House as Obama’s auto advisor

Ron Bloom was the man in charge of America’s automobile bailout back in 2008. Earlier this week, Mr. Bloom said that he will be stepping down and leaving his position in the White House. “We’ve faced many tough choices and dealt with numerous challenges over the past two and a half years—from restructuring the American […]

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Obama: I was not willing to walk away from the workers at Chrysler

Earlier this afternoon, Chrysler announced that it has repaid its outstanding $7.6 billion U.S. and Canadian government loans. President Barack Obama has released his statement regarding Chrysler’s repayment and here is what he said: Chrysler’s repayment of its outstanding loans to the U.S. Treasury and American taxpayers marks a significant milestone for the turnaround of Chrysler and […]

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White House: ‘Tough love’ led to General Motors’ position today

While the White House today congratulated General Motors on its announcement of investing $2 billion in 17 plants in eight states creating new jobs, it said that the outcome is evidence that the government’s ‘tough love”‘worked. Click here for GM’s announcement on investing $2 billion in U.S. assembly and component plants. In a White House blog […]

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Car Czar: U.S. won’t go easy on CAFE because it has a bunch of money in GM

Task force Chairman Ron Bloom told reporters during an industry conference in Michigan today that the U.S. government has no interest in using its stake in General Motors Company to make a social policy such as offering more fuel-efficient cars or limiting auto emissions. He said that the management of General Motors and Chrysler will be […]

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Obama administration ends warranty program for GM, Chrysler

After successfully getting General Motors Company and Chrysler Group LLC out of bankruptcy protection, the Obama administration said that it is now ending the government-financed warranty program for the two automakers. Ron Bloom, the head of the auto task force, told a House Judiciary subcommittee about the decision in testimony yesterday, reports Automotive News. “With the […]

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Auto task force has no plans to pump more money into GM and Chrysler

Ron Bloom, a senior adviser to the Obama administration’s auto task force, said that the group had no plans to pump more money into General Motors and Chrysler and that the public had a “reasonable probability” of getting their money back. Bloom faced numerous questions by the Senate Banking, Housing and Urban Affairs Committee about the […]

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Rattner: Loans needed by GM and Chrysler “could be considerably higher”

Chief auto adviser to the U.S. Treasury Department, Steve Rattner, said Friday that GM and Chrysler may need “considerably more” aid than the $21.6 billion the two automakers have requested. Chrysler is seeking another $5 billion while GM is asking for another $16.6 billion. Rattner also gave the strongest hint that the Obama administration will […]

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Steven Rattner: Bankruptcy not our goal for the automakers

Steven Rattner, the U.S. Treasury’s main advisor when it comes to the automotive industry, said today that Obama’s auto task force is avoiding bankruptcy as an option for GM and Chrysler. The news comes just days after the auto task force hired bankruptcy lawyer Matthew Feldman to advise it on its options. “Bankruptcy is not our […]

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Obama’s auto task force hires bankruptcy lawyer for advice

According to a press release by New York law firm Willkie Farr & Gallagher LLP, President Obama’s auto task force has hired bankruptcy lawyer Matthew Feldman to advise it on its options. The firm said that Feldman will be responsible for advising the U.S. Treasury Secretary Timothy Geithner and the National Economic Council Lawrence Summers on “reorganization […]

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So how was Obama’s auto task force’s visit to Detroit?

While some of you are wondering where our visitor zermatt is (zermatt being a very analytical individual who we feel is a great addition to our community), we’re guessing he’s unwinding after a very tiring visit to Detroit on Monday where President Obama’s auto task force visited General Motors and Chrysler. Either way, the auto […]

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