Date post: | 09-Apr-2018 |
Category: |
Documents |
Upload: | houghton-mifflin-harcourt |
View: | 226 times |
Download: | 0 times |
of 23
8/8/2019 Overhaul by Steven Rattner
1/23
overhaulAn InsIders Account o the
obAmA AdmInIstrAtIons emergency
rescue o the Auto Industry
s t e v e nr a t t n e r
8/8/2019 Overhaul by Steven Rattner
2/23
8/8/2019 Overhaul by Steven Rattner
3/23
C 2010
All rights reserved
F , P, M P C,
215 P A , Y, Y 10003.
..
Library of Congress Cataloging-in-Publication Data
, .
O : O
/ .
. . x.
ISBN 978-0-547-44321-8
1. A G .
2. G . 3.
. 4. E 2009 . T.
HD9710.U52R38 2010
338.476292220973 22 2010033188
Book design by Melissa Lotfy
P A
doc 10 9 8 7 6 5 4 3 2 1
8/8/2019 Overhaul by Steven Rattner
4/23
Contents
Cast of Characters ix
P 1
1. M C 5
2. T O 20
3. M. G W 43
4. F** AW 67
5. , , 82
6. T W 100
7. T ? 115
8. J T 143
9. C L M 160
10. W W 18211. E 211
12. 246
13. T C Ex 270
E 296
Note on Sources 316Acknowledgments 317
Index 320
8/8/2019 Overhaul by Steven Rattner
5/23
PROLOGUE
The oval office ,
P O , L, -
, K J, . A TV,
.
M 2009, A P -
, T W ( ) -
- .
A 7:30 P
L - - -
. W
W W,
P-
O x , .
F O, j ;
, .
F, G M C,
x . z , -
, x ,
q -
x
. F, W -
, P . T - ; M
x .
T P q ,
8/8/2019 Overhaul by Steven Rattner
6/23
2 | PROLOGUE
T , -
-
A W W
. W z . O , -
x G M
C . W
? . A x
P ,
, .
, - -
,
. W P
x
,
,
, z j,
M. W A
G , :
.
T P (T -
), z j.
-
. P O W ,
O O ,
T- j , .W , P .
x ,
- . A
, O O , -
, .
K
: M . - ,
.
8/8/2019 Overhaul by Steven Rattner
7/23
PROLOGUE | 3
W P
, -
. K
, -- , P j.
, x
. T . J
, -
, . T
,
P .
C L P -
GM C j .
, .
T P :
. -
.
A , x . P
,
. L
z
.
T P . W
, L
. C C
.
T x G J G M.
, 2006
, M -
,
z. , P ,
.
, .
8/8/2019 Overhaul by Steven Rattner
8/23
4 | PROLOGUE
, G, A
W,
, - . T
.W , P O
O TV, T
. T ,
, j .
8/8/2019 Overhaul by Steven Rattner
9/23
1
DEAD MANS CURVE
Fou r months earlier, T,
Speed-the-Plow . L , j
O, P-
. q, L .
x- - -
, ?
, ,
.F , j W
W. q-
, ,
- , -. W
, -
. O
G -
; ? , ?
.C. J C,
New York Times.
j 1974, Times
J . A
x zz x
--- . A - W ,
opec -
C : .
8/8/2019 Overhaul by Steven Rattner
10/23
6 | OVERHAUL
T .
- ,
Wall Street Journal
. M x L E .
L j W
, . . A -
, j-
. Y , -
- . M ,
-
Q, -
.
, Times.
j
.
W .
-
. W . T z -
,
, x,
j
.
M
$60,000 , -- -
x z W . W j
, -
j. M
qzz. T
. -
-.
, .
x . A
8/8/2019 Overhaul by Steven Rattner
11/23
DEAD MANS CURVE | 7
, 10
.
W , .
.T L
, M W, A x. W
,
( ).
-1990, -
Lz F, W.
-.
.
M C M V
C . O
1995 V A J
L , W . W
J
C
.T , C ,
, . A ,
M .. unicef. -
T - L
, .
M A G 2000,
J K 2004, G
W. . A , W j;
, Q G, 2000,
. A j
.
W C P 2008, -
.
q P. , - , O
. C -
, O . A 2007,
8/8/2019 Overhaul by Steven Rattner
12/23
8 | OVERHAUL
M V
, . (A
, .)
W ; .
J 2008, M
. A ,
, , ,
, .
E 2008 . O , -
j -
. :
, Q -
. -
O .
A .
W,
. - -
. A j , .
M
, , J P,
P C.
M F, T ,
O, . M Q J
, T
W , -- . O
, J .
V j, .
P F
.
O M T, O
. T G T ,
- . T
L Speed-the-Plow
8/8/2019 Overhaul by Steven Rattner
13/23
DEAD MANS CURVE | 9
x . A , . W J -
,
.
T Y F --- j .
T
. x - ,
18 8:30 a.m.
- , -
, F L
M. ,
T, , ,
,
j .
, , T x
T z -
: j.
A , x, -
. T , -
. -
: , ,
- , .
. L
-- ,
, T .
q ? ,
j .
, .
L, j G -
P. W ,
A . T
,
8/8/2019 Overhaul by Steven Rattner
14/23
10 | OVERHAUL
z . F
, ,
q x . A ,
A - , .
, , -
j.
L W z,
. O q
, -
.
:
M M .
x. A -
.
. A q -
q , W , -
z , , -
z. ,
x
CLO, V, M, . W
. 2007, Wall Street Journal -
. A , -
, -z , F M F M, q-
, ( -
).
F , W
W . M 2008, F ,
. M z!
. P ! F x , ,
.
2008. T
8/8/2019 Overhaul by Steven Rattner
15/23
DEAD MANS CURVE | 11
L -z F
.
M L
j W .
x , . T 1987
M,
O 19 -. T A 1998
, A .
T M,
j . F
z . q ;
.
M, -
2007 ,
. W
, x -
q . T , -
, , . A , -
x W
. (A , x -
,
.)
T
j. F ,
. P ,
,
. E
, ,
;
x ( ) q (
). W W x , -x
j .
J . M
8/8/2019 Overhaul by Steven Rattner
16/23
12 | OVERHAUL
, Y! M-
, . ( , -
.) J ,
. A ,
.
T j G, -
$17 G M
C, . T
, -F ,
,
M, O
. .
J ,
. A
, C ,
T. A -,
. T .
Y .W , , ,
, .
A . O 26,
( ,
x). T -
, .
W Y E, T
, L. -, , M .
O T -
, ,
.
A , ,
; L, J.
T, . . ,
. , Y
8/8/2019 Overhaul by Steven Rattner
17/23
DEAD MANS CURVE | 13
E, , M . -
T j .
2009 ,
x .
-
. j
W. z
.
,
nafta
j . GM
C q
z, , z .
;
. A C,
-
.
, J ,
.. C , , .
, j
. x A -
W,
, .
P O ,
,
, , . .
8/8/2019 Overhaul by Steven Rattner
18/23
14 | OVERHAUL
A
. ,
x, T j . G M, F,
C 90 .. , . GM A, -
F 500
A .
L
F C q, L, C, .
,
, -
Gx, , T, . M
C -
,
. 1966
F -
M,
.
j ,
, x, - J . C,
, qz ..
1970, C F GM
. A New York Times C
. -
,
, F G , . T q, ,
.
O , C, C, ,
V A .
F P ( ),
, Z. V -
.. , M MW C L x . 1982 -
M, O,
- A A j
8/8/2019 Overhaul by Steven Rattner
19/23
DEAD MANS CURVE | 15
J.
,
T.
T . A -, C, L CEO TV ,
. F T, -z
,
. C - A, -
A. T - F
C - . F
1,500 1981 1987.
. ..
G J
. C , -
, , -
. T T :
, ,
, .GM, , .
1980, $90
GM 800,000-
z
- . , z -
O C zz
.
1989, GM Roger & Me,
, x j Mx
F, M,
-A .
. : -
19901991 ,
GM - A , $23.5 1992.
L T
AW,
8/8/2019 Overhaul by Steven Rattner
20/23
16 | OVERHAUL
-x -
. (T AW
2008 C T ,
x : CEO GM, F, C, G, AW.) x-
-
- . C ,
A x, A --
--. V x
( , j ,
-opec ) - . C
, -, -, -zz -
. A -
V z,
. 1999 Wall Street Journal
GM, F,
(C ). 2000, GM
- $93.63 .Y V , , -
. 2005,
,
q (F J V; GM
). . T j , -
- -
. (
: .)
, 2008
,
. 2004, ,
, j $2 . ,
V $60 . -
, - . T T x, ,
. 2006, F $12.6
$160 .
8/8/2019 Overhaul by Steven Rattner
21/23
DEAD MANS CURVE | 17
E . C ,
, 80
, $38 ,
q C. F, , , - $23.5 , , ,
- . GM -
, j ,
GMAC.
2006 GM
.
T GM ..,
W W A-
. (T GM ,
.) ,
. F .. ,
. F TV , . A
,
.T
2008. T ,
$4 , - .
A -
,
. -
.
, . C- x F -. F, x-
q 105- $8.7
q 2009
. GM -q z F
$15.5 . A ,
300,000 .
F GM, Fz , , 2008,
GM . A , ,
8/8/2019 Overhaul by Steven Rattner
22/23
18 | OVERHAUL
q. J,
, - AW -
V, : GM
.C . W -
x , j A
.
A , E
, A . $140
, .
M ;
GM .
- G M-
CEO W GM -
, j
, . W W -
q, x .
, GM q
z C. T - GM F
- .
W , GM
, -
.
T W .
A L
, . GM 101.
T q W
, $25
C
. GM
. .
O W -. G W.
-
8/8/2019 Overhaul by Steven Rattner
23/23
DEAD MANS CURVE | 19
. Y , GM jz ,
j. O ,
, W. Y j
. x-, .