Funky Cars > Gov’t Task Force To Direct GM, Chrysler | Sweetness & Light

[Sweetness & Light] to help get the embattled U.S. auto industry back on track, President Barack Obama has decided. Instead, his administration is establishing a presidential task force to direct the restructuring of General Motors Corp.

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[Related news & stories - MashGet] A lot is riding on GM and Chrysler’s plans - MashGet: According to Reuters, the U.S. government has retained two law firms with extensive bankruptcy experience and the investment bank Rothschild to advise officials on the taxpayer-backed restructuring of General Motors and Chrysler LLC, a person with direct knowledge of the work said.New York law .

[Chronicle-Telegram] The Chronicle-Telegram - Lorain County's leading news source: The people briefed on the plan said it will include more information about how GM will cut some of its eight brands, although nothing will be finalized. The company already has said Saab and Hummer are up for sale and Saturn is under review, leaving GM to focus on Chevrolet, Cadillac, GMC and Buick, with Pontiac reduced to one or two models.

[Associated Press News - Salon.com] GM, Chrysler preparing viability plans for gov't - Salon.com: According to a person close to the talks between GM and its bondholders, there are a number of "sticky points" for the bondholder group, such as what labor concessions will be enacted and how that will affect the company's costs. The bondholders want to ensure they'll be taking equity in a viable company before they agree to the swap, said the person, who spoke on condition of anonymity because of the sensitive nature of the talks.

[HozNews] HozNews » Blog Archive » GM, Chrysler race to meet restructuring ...: DETROIT, Michigan (AFP) - - General Motors and Chrysler struggled to win key concessions from their main union a day ahead of a deadline to present restructuring plans to the federal government. GM spokeswoman Sherryl Childers-Arb said GM remains .

[Michael Moore - This Just In] MichaelMoore.com : Obama Is Said to Drop Plan for 'Car Czar' to ...: DETROIT ”” President Obama has dropped the idea of appointing a single, powerful "car czar" to oversee the revamping of General Motors and Chrysler and will instead keep the politically delicate task in the hands of his most senior economic advisers, a top administration official said Sunday night.

[The Auto Writer] D-Day For General Motors & Chrysler : The Auto Writer: One of the most important days in the lengthy history of two automakers ”” General Motors and Chrysler ”” has arrived. Today is D-Day or Documents Day, where each automaker must submit recovery plans to the federal government in order to .

[Related news & stories - MashGet] 4 questions for GM and Chrysler - MashGet: Representatives of bondholders with some $28 billion in General Motors Corp (GM.N) debt have outlined specific proposals to the automaker on how to swap the debt for equity in a restructured company, a person with knowledge of the talks said on Monday.GM has not yet .

[Australian Car Advice | News Blog] Obama drops car czar plan for government task force » Australian ...: There was no immediate word on when President Obama plans to unveil his strategy, but it is known it will happen sometime after tomorrow when both GM and Chrysler have to submit new turnaround plans to demonstrate how they plan to .

[Zionistgoldreport's Weblog] GM And Chrysler Come Out With Hands Begging As They Open New ...: GM, with a pledge for $13.4 billion in loans, may seek support beyond an $18 billion request made Dec. 2 because of worsening economic conditions, people familiar with the automaker’s plan said.

[ខ្មែរស្រលាញ់ខ្មែរ] ខ្មែរស្រលាញ់ខ្មែរ » Blog Archive » Obama drops ...: Both GM and Chrysler have said they expect to meet cost-cutting targets set out under the government bailout, which include making blue-collar labor costs competitive with Japanese automakers that operate factories in the Untied States.

[Option ARMageddon] Option ARMageddon » Blog Archive » GM/Chrysler need more cash ...: The competing choices, which highlight GM’s rapidly deteriorating operations, present a dilemma for Congress and the Obama administration. If they refuse to provide additional aid to GM on top of the $13.4 billion already committed they risk seeing an industrial icon fall into bankruptcy…

[Below The Beltway] Below The Beltway » Blog Archive » Obama Reported To Drop Idea Of ...: Obama has increased government spending about double of what is the “norm”. How is it that this government is going to put us deeper in debt than we have ever been and yet…He’s dropping the idea of one single car czar but expanding government by appointing a council to oversee the auto industry.

[Auto Blog News] Auto Blog News » REPORT: Obama dropping "car czar" in favor of ...: The three men will work with a presidential auto industry oversight panel, with Obama “reserving for himself any decision on the viability of GM and Chrysler.” The aforementioned panel will be known as the Presidential .

[Labor Union Blog] GM and Chrysler to present plans to government - 2/16/2009 | Labor ...: Doug Cunningham reports./ppBy Doug Cunningham/ppOn Tuesday GM and Chrysler will present their long-term financial plan to the U.S. Treasury Department as a condition of the multi-billion loans they got form the government. United Auto Workers President Ron Gettelfinger says it’s critical that the Obama administration deliver the help the industry needs to survive./p

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