Memoir Reveals Renault-Nissan CEO Carlos Ghosn Was Handed GM By Obama Administration

 The Obama administration vetoed attempts by General Motors to abandon its Detroit headquarters, a new book by a former top auto adviser reveals.

The revelation comes in a 320-page memoir by Steven Rattner, who was President Barack Obama's auto adviser for six months last year, and helped shepherd the $85 billion government bailout and bankruptcies of GM and Chrysler.

"Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry" also discloses Rattner secretly forced out GM Chairman Kent Kresa in June 2009, and offered GM's top job to Renault-Nissan CEO Carlos Ghosn.





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Larrybel2000 - 9/3/2010 2:30:08 PM

+1 Boost

Imagine that.

dumpsty - 9/5/2010 10:28:01 PM

+1 Boost

I have to own this book. So many twisted tales of people (& businesses) getting screwed.

There should be multiple movies about the the Big3 debacle.

Spectator - 9/3/2010 4:03:05 PM

+4 Boost

Wait a min?!...you mean the bailout was largely controlled by political pressure to save Detroit and the Unions. Im shocked! Absoultly shoc...no wait whats the word that means the opposite of shocked...oh yeah...indifferent.

All of us knew the payments to the automanufacturers werent specifically to save the companies, it was to save the economies behind the companies. In this case Detroit.

MorePower - 9/3/2010 5:29:33 PM

+2 Boost

Thanks for posting this! Obama was right. If GM left Detroit, you might as well just leveled the entire city or pull a RoboCop and sell the city to Apple or Google.

uaw_lax - 9/4/2010 1:14:17 PM

-2 Boost

Not just Detroit many other cities as well.

AdmiralT20 - 9/5/2010 10:52:44 PM

+1 Boost

I doubt if that was the reaction Agent009 was hoping to get when he posted this article.

AdmiralT20 - 9/3/2010 7:16:54 PM

+1 Boost

And the point of this article is...
Agent009, what would you have done- allow American companies to go under?
Have you forgotten how we won the two world wars?
You can't be an economic and military superpower if you don't have a manufacturing base.
Enough with your political broad-sides.

tango - 9/4/2010 12:56:36 AM

+3 Boost

I'm with AdmiralT20 on this. Of all the things that were said, the only was noticed by Agent009 was that the "Obama Administration" handed GM to Ghosn? I think the fact that The same (clearly misguided) fellow wanted GM to close its Detroit facility. Detroit, a city that is already depressed and in dire need of stimulus itself, would have surely felt the pinch. It's am intersting article, but clearly politically motivated by its reposted nomenclature. But should we really expect any better?

uaw_lax - 9/4/2010 1:15:36 PM

-2 Boost

Americans wanting other Americans to suffer! Just plane stupid!

wins555 - 9/6/2010 9:52:49 AM

+1 Boost

Ghosn declined the offer to head GM because.......he opted to remain loyal to Renault/Nissan. What a guy.