GM, Chrysler - tax dollars at work

[WorkingOnIt]

From Fortune magazine
The auto bailout: How we did it
by Steven Rattner
http://money.cnn.com/2009/10/21/autos/a ... 2009102104

Summary available here:
http://content.usatoday.com/communities ... 20000252/1
"Steven Rattner, who led the Obama administration auto task force, is making the speaking rounds today as Fortune released a long piece penned by him in this week's issue."

a couple excerpts:

"I was shocked by the stunningly poor management that we found, particularly at GM, where we encountered , among other things, perhaps the weakest finance operation any of us had ever seen in a major company."

regarding major tranaction requests: "we were appalled by the absence of sound analysis provided to justify these expenditures."

[WorkingOnIt]

Rattner spoke at the Brookings Institution Wednesday, and then participated in a panel discussion including:
Clifford Winston - Brookings Senior Fellow
Alan Reuther - CWA-UAW Union Legislative Alliance Director
Martin Zimmerman - clinical professor of business administration at the University of Michigan and former chief economist and group vice president at the Ford Motor Company
Martin Baily - director of the Initiative on Business and Public Policy

Full event audio download available here:
http://www.brookings.edu/events/2009/10 ... ustry.aspx