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An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry
Houghton Mifflin Harcourt
September 2010
On Sale: September 20, 2010
320 pages
ISBN: 0547443218
EAN: 9780547443218
Hardcover
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Non-Fiction
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.
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