The Deal
Tuesday, November 24, 
1:19 am

Auto execs finally get date with Bush

  Share     E-Mail    Discussion    Print Story

It seems a little late in the game, but General Motors Corp. CEO Rick Wagoner, Ford Motor Co. CEO Alan Mullaly and DaimlerChrysler's U.S. head Tom LaSorda have finally won an audience with President George Bush. For six months, the trio had been clamoring for a meeting with the administration to discuss the problems facing the U.S. auto industry. Many factors led to the Republican losses on Tuesday, but arguably an air of concern for these icons of U.S. industry could have helped the Republicans seem in touch with the concerns of both business and the blue-collar workers who run the production lines. Instead, Bush squandered the opportunity. Now after the midterm elections pass, the lame-duck administration agreed to meet the trio on Tuesday. Of course, there is little the administration can probably offer the troubled companies now that the Bush White House no longer has a Republican Congress to support it. As a matter of fact, considering the lame-duck status, perhaps the trio should seek an audience with in-coming House Speaker Nancy Pelosi D.-Calif. and Michigan Rep. John Dingell, who will probably chair the House Energy and Commerce Committee.—Matthew Wurtzel

See story from MarketWatch
See related story from The Detroit News
See "Better know a Democrat: John Dingell"

Continue reading below

Also on Dealscape





Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Morgan Stanley's Rosenthal on the nitty gritty details of the Smith Barney integration.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Loan-to-buy

Paulson's proposal to purchase an equity stake in Yellow Pages publisher Idearc is the second time in recent months an investor group has used its prepetition debt position to execute a bargain price 'exit LBO.'


Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.