Behind The Wheel

MORE HEADLINES

» Markets | Economy | Companies

- Health Care Bill Clears First Senate Hurdle

BEHIND THE WHEEL VIDEO

» More

BMW Signed as Olympic Partner

20 Nov 2009

BMW has been chosen as the official automotive partner of the London 2012 Olympic and Paralympics games. Ian Robertson, board member of BMW Group, spoke to CNBC about the sponsorship.

Economic Roundtable 19 Nov 2009
CNBC's Steve Liesman and Larry Lindsey, of the Lindsey Group, share their economic insight.

Assessing Obama's Tour of South Korea

18 Nov 2009

Assessing the joint press conference held by U.S. President Barack Obama and South Korean President Lee Myung-bak, with Frank Lavin, former White House political director, speaking with CNBC's Oriel Morrison.

Safest Vehicles on the Road 18 Nov 2009
The Insurance Institute for Highway Safety released its latest list of safest vehicles, and CNBC's Phil LeBeau has the details.
Insurance Industry's Top Car Safety Picks 18 Nov 2009
The insurance industry's closely watched annual list of safest new vehicles is out, and CNBC's Phil LeBeau has the details.

RSS FEED

» Help

Subscribe to this RSS feed
Stay up to date with Behind The Wheel.

CNBC ON DIGG

Auto Task Force Shifts Gears Without Rattner

Published: Monday, 13 Jul 2009 | 6:17 PM ET

Text Size

By: Phil LeBeau

Like the whirlwind trips in and out of bankruptcy for GM and Chrysler, Steve Rattner is leaving Washington just a few months after stepping into a high profile position with the Treasury Department. Rattner is leaving the Auto Task Force and heading back to private life in the investment world. Talk about making a splash and then getting out of town.

Rattner leaves after four months that completely re-shaped the industry. Think about it. Since March, both GM [GMGMQ Loading... () ] and Chrysler have gone in and out of bankruptcy, started shedding tens of thousands of jobs, replaced two CEOs, and cut tens of billions in debt obligations. It's not a stretch to say the tenure of Rattner in D.C. may have had the biggest impact on the auto industry in decades.

Within the auto industry Rattner was not a favorite. He was clearly respected, but rarely admired. That's not surprising given the fact he ran a task force that had to recommend the White House make tough choices for GM, Chrysler, and auto suppliers.

2009 NY Auto Show

Top Ten Gas-Sipping Cars

Milestones in the Auto Industry

Somebody had to say no, things are changing. Somebody had to say the days of "business as usual" are over. Somebody had to make a lot of people in the auto industry swallow some bitter medicine. Rattner and his team did that, and it's the reason many in Detroit are glad to see him leave D.C. Some of those feelings are sour grapes, some are legitimate.

Rattner heads back to New York where he will once again get immersed in Wall Street. His time in Washington is over, but the impact of his actions while in the D.C. will be felt for years to come.

_____________________________________
Click on Ticker to Track Corporate News:

- Ford Motor [F Loading... () ]