Obama’s auto team is starting to take shape

Obama’s auto team has started taking shape. Nothing is official as of yet but sources close to the matter say that Stephen Girsky, a long time auto industry analyst, is the leading candidate to become the ‘car czar’s’ right hand man.

Grisky, who is the boss of private-equity firm Centerbridge Industrial Partners has been a former General Motors consultant and recently advised the UAW on issues on obtaining federal loans. Next to the car czar, Grisky will be second in command to have a more hands on approach with overseeing the restructuring of GM and Chrysler.

Steven Rattner, American financier and private equity investor and partner at Quadrangle Group in New York, is still leading candidate to become the car czar.

Both GM and Chrysler have been authorized to receive $17.4 billion in federal aid and both must file a restructuring plan by Feb. 17 and show significant progress toward viability by March 31.

Source: Detroit News