This week represents a major point in time for the post-bailout American auto-industry; the new GM will issue its much anticipated IPO, returning the company to Wall Street. Many are predicting success for the company in the IPO, including former United States “˜Car Czar” Steven Rattner. With increasing sales and enormous demand, the stock price [...]
In his tell-all book due out this fall, former Car Czar Steven Rattner reveals how Chrysler came within a hair of going the way of Lehman Brothers, and being allowed to fail. A majority if the auto task force actually voted against offering aid to Chrysler, and it was only after a tense meeting with [...]
Earlier this month its was reported that the Obama administration wanted Renault/Nissan CEO Carlos Ghosn to lead General Motors once it came out of a government scripted bankruptcy. The news was made popular by Steven Rattner’s, the former auto czar for President Obama, tell-all book about his six months with the new administration. Ghosn today [...]
Steven Rattner was president Obama”s auto adviser who was at the helm of the government”s bailout of Chrysler and GM in 2009. He is now set to publish a tell-all book about his six months at 1600 Pennsylvania Avenue. The book, entitled “Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto [...]
Former U.S. Car Czar Steven Rattner said today that GM and Chrysler have performed better than he would have expected them to one year ago. Before speaking at a conference on the auto industry at the Detroit branch of the Federal Reserve, Rattner said that both companies have exceeded the government’s metrics in sales and [...]
Former Wall Street investment banker Steven Rattner recently quit his job as the auto czar after five months of advising President Barack Obama on what to do with the auto industry. Rattner now spends his time at home helping his son with his schoolwork and spending more time with his family. Rattner, who is also [...]
Steven Rattner, the head of President Obama’s auto task force, will be leaving his position at a time when his private equity firm has been linked to a corruption probe by New York’s attorney general, Andrew Cuomo. In announcing his resignation on Monday, U.S Treasury Secretary Timothy Geithner said that Rattner will be returning to [...]
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 [...]
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 [...]
Chrysler’s CEO Bob Nardelli said that the potential partnership deal with Fiat could save 5,000 North American manufacturing jobs and could be worth up to $10 billion. “We estimate the cash value of Fiat’s contribution to be between $8 and $10 billion considering the cost to develop these vehicles, platforms and powertrains from scratch,” Nardelli [...]
