And our writer takes aim at part of that intervention
By Brendan Moore
10.23.2009
Fortune, the business magazine, published an approximately 6000-word piece this week about the federal bailout of GM and Chrysler by Steve Rattner, a former Obama administration “car czar”, former private-equity master, and all-around business wheeler-dealer.
It’s a interesting piece, filled with good observations, drama and some commentary about Detroit automakers and the bankers that surrounded them in the days leading up to the government takeover of Chrysler and GM. Rattner is still a very good writer, even though he hasn’t been a New York Times reporter for decades.
But, despite the length of the Fortune article, Rattner’s most interesting comments about the government assistance to GM and Chrysler probably occurred on Wednesday, the same day the Fortune article came out, during a relatively short speech at the Brookings Institute in Washington, D.C.
In that speech, as reported by The Washington Post, Rattner allows as to how the $20 billion USD that the Bush administration lent to GM is probably gone forever.
Rattner stated, “I don’t think we are going to see [it] again.”





On my recent visit to the western Balkans I had the opportunity to cross into the mysterious land of Albania, a country where until 1990 ownership of private cars was completely banned.
Manufacturers usually make every one of their new models have more of everything – power, technology, safety features and, unfortunately, more weight and size as well.
Companies like Elio Motors and Aptera, who plan to start manufacturing gasoline-powered and battery-powered three-wheelers, respectively, in the near future, were cheering the news, as their applications for DOE funding were rejected previously. Both companies said that they would re-apply for DOE funding as soon as possible.




