Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry
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The first real look inside Team Obama—due just before the 2010 elections—mixes political warfare and big business shakeups in equal proportions, and comes from a uniquely informed source. Steve Rattner is not just the man brought in by the president to save the auto industry, he is a former New York Times financial reporter who also earned a place among the top tier of Wall Street’s most informed investment bankers and corporate experts. Now, from his vantage point at the helm of the historic auto-industry intervention, Rattner crafts a tightly plotted narrative of political brinkmanship, corporate mismanagement, and personalities under pressure in a high-stakes clash between Washington and Detroit. He also explains the tough choices he and his team made, working against a ticking clock and facing vocal opposition from free market champions, to keep Chrysler and General Motors in operation. As the economy faced free fall, Obama, Treasury Secretary Tim Geithner, and economic advisor Larry Summers—all revealingly described—faced the possibility of more than a million lost jobs and the astonishing wreckage of GM (a nightmare of huge proportions, caused by terrible management) and Chrysler (a company so close to death it was nearly sacrificed). Rattner’s book—which will take the story up to the fall of 2010—is a gripping account of one of the severest crises of President Obama’s first year in office, with lessons relevant for all managers and executives. The New York Times - Micheline Maynard …Mr. Rattner discusses the tug of war among the government officials, company executives, financiers and union officials as the prospect of bankruptcy went from remote to reality. For that, Overhaul will certainly be on the bookshelf of every bankruptcy attorney in the country, and become required reading for public policy and law students…
Cast of CharactersPrologue 11 Dead Man's Curve 52 The Bridge to Obama 203 Mr. Rattner Goes to Washington 434 "F**k the UAW" 675 Rick, Bob, and Sergio 826 The B Word 1007 "Is This Unanimous?" 1158 Jimmy Turns Bright Red 1439 Chrysler's Last Mile 16010 Harry Wilson's War 18211 Epic Bankruptcy 21112 Dealer Nation 24613 The Chief Executive Shuffle 270Epilogue 296Note on Sources 316Acknowledgments 317Index 320
