All Posts Tagged With: "car czar"

Obama Shuts Down “Car Czar” Idea, Treasury Secretary Geithner to Steer Ship

U.S. President Barack Obama has decided against naming a "car czar," and is instead asking U.S. Treasury Secretary Timothy F. Geithner and White House economic adviser Lawrence H. "Larry" Summers to head a task force on revamping the U.S. auto industry, Bloomberg News reported yesterday (Monday).

The president was under pressure to say who would handle the issue before tomorrow, when General Motors Corp. (GM) and Chrysler LLC must give progress reports on plans to restructure as a condition of $17.4 billion in U.S. Treasury loans. The so-called car czar – an approach that had some support in the American auto industry – was viewed…

17Feb2009 | Money Morning | 0 comments | Continued

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