Mission Accomplished: Auto Task Force Could Be History
July 15, 2009

This week's departure of Steven Rattner from President Obama's automotive task force suggests the panel soon could be dissolved now that General Motors and Chrysler have emerged from bankruptcy.

The possibly imminent dissolution of the task force suggests what its members and President Obama have insisted all along - but have not been believed - that they do not want to run the day-to-day business of GM and Chrysler

Rattner stepped down Monday as head of the task force to return to Wall Street. He is replaced on panel member Ron Bloom, a former union advisor and vice president of investment firm Lazard Ltd. His job will be to get the government out of the auto business completely by cashing out its equity positions in GM and Chrysler.

Harvey Miller, a lawyer representing General Motors in its bankruptcy, told Bloomberg Television, the task force will be dissolved in the coming weeks - perhaps by the end of August. .

Posted by Michelle Krebs at 9:59 AM under Business , Chrysler , GM , Personalities | Comments (0) | digg this | Seed Newsvine

Technorati Tags: chrysler, chryslerbankruptcy, generalmotors, gmbankruptcy, harveymiller, presidentobama, presidentobamasautoindustrytaskforce, ronbloom, stevenrattner