Auto Task Force … Activate!
What's to be done about the floundering American automotive industry? Appoint a "car czar," you say? No, this is a job for a whole team of people, such as the newly formed Presidential Task Force on Autos. One small hitch: It'll be headed up by Timothy Geithner and Lawrence Summers.
What’s to be done about the floundering American automotive industry? Appoint a “car czar,” you say? No, this is a job for a whole team of people, such as the newly formed Presidential Task Force on Autos. One small hitch: It’ll be headed up by Timothy Geithner and Lawrence Summers.
WAIT BEFORE YOU GO...The Detroit News:
Geithner will be the president’s designee, overseeing the $17.4 billion in loans for GM and Chrysler. He also has veto power over any proposed auto transaction over $100 million and can call back the loans on March 31 if the companies haven’t made enough progress.
“Well, the approach that the administration has settled on I think provides a vast amount of expertise that crosses a number of governmental agencies and departments, and brings in the vast amount of experience that the administration has to deal with the auto restructuring — any auto restructuring issues,” Robert Gibbs, White House Press Secretary, told reporters aboard Air Force One. “So I think that the model that’s been set up with Secretary Geithner and Dr. Summers is one that will help coordinate throughout the federal government the responses that include energy, transportation, as well as the economic team.”
This year, the ground feels uncertain — facts are buried and those in power are working to keep them hidden. Now more than ever, independent journalism must go beneath the surface.
At Truthdig, we don’t just report what's happening — we investigate how and why. We follow the threads others leave behind and uncover the forces shaping our future.
Your tax-deductible donation fuels journalism that asks harder questions and digs where others won’t.
Don’t settle for surface-level coverage.
Unearth what matters. Help dig deeper.
Donate now.
Editorial Cartoons
Labor
The first-of-its-kind victory at the Chattanooga Volkswagen factory proves autoworkers in the South are beginning to see the value in unionizing their place of work.
The offer includes "major gains" for workers who have been picketing at U.S. factories for a month, United Auto Workers officials say.
A bitter standoff over fuel efficiency has been threatening to unleash years of court fights and confusion in the U.S. auto industry.
The Truthdig columnist goes to Anderson, Ind., to witness the impact of the flight of General Motors jobs.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.