Steven Rattner - egmCarTech

Former auto czar tells why Obama administration got rid of Rick Wagoner

Posted: Oct 21, 2009

Filed under: Breaking, GM, Industry News

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 a [...]

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Steve Rattner steps down as head of Obama’s auto task force

Posted: Jul 14, 2009

Filed under: Industry News

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 his [...]

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

Posted: Mar 21, 2009

Filed under: Chrysler, GM, Industry News

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

Posted: Mar 16, 2009

Filed under: Chrysler, GM, Industry News

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 goal,” [...]

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Chrysler and Fiat deal could save 5,000 jobs, worth up to $10 billion

Posted: Mar 16, 2009

Filed under: Chrysler, Fiat, Industry News

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 said [...]

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Obama’s auto task force hires bankruptcy lawyer for advice

Posted: Mar 13, 2009

Filed under: Chrysler, GM, Industry News

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 efforts [...]

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

Posted: Mar 11, 2009

Filed under: Chrysler, GM, Industry News

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 task [...]

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Obama’s auto task force to test drive Volt prototype today

Posted: Mar 09, 2009

Filed under: Chevrolet, GM, Industry News

As we told you last week, President Barack Obama’s auto task force will be headed to Detroit today to meet with executives from General Motors and Chrysler. Advisers Steve Rattner and Ronald Bloom will visit GM’s technical center in Warren and will also pay a visit to Chrysler’s truck assembly plant. They will also hold [...]

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Obama’s auto task force heading to Detroit next week

Posted: Mar 05, 2009

Filed under: Chrysler, GM, Industry News

According to White House spokeswoman, Barack Obama’s administration is working “around the clock” to form a solution to the problems being faced with General Motors, Chrysler and the auto industry.
“The administration is very mindful of the challenges in the auto sector,” the spokeswoman said. “Our team is working around the clock to develop the most [...]

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Marchionne says Fiat can give Chrysler a fair chance

Posted: Mar 05, 2009

Filed under: Chrysler, Fiat, Industry News

During his meeting with Obama’s auto task force, Fiat CEO Sergio Marchionne said that his company will “add value” to Chrysler through an alliance supported with government loans. After his meeting with Steve Rattner and Ron Bloom, advisers to the U.S. Treasury, Marchionne told reporters that he was encouraged by the groups engagement with the [...]