Jump to content
CaddyInfo Cadillac Forum

Car Czar to be?

Recommended Posts

The US Congress plans to appoint a 'Car Czar' to oversee the auto industry loan and restructuring.

The reaction came as House Speaker Nancy Pelosi, D-Calif., gave automakers some indication Tuesday she favors a "car czar" with a banking background. She suggested Paul Volcker, a former Federal Reserve chairman and now an economic adviser to President-elect Barack Obama, would be a good choice. She also said Monday that she wouldn't want to see former General Electric Co. Chairman Jack Welch in the job.

Other names that have surfaced in recent days include billionaire auto racing legend and Detroit-area industrialist Roger Penske, who was unavailable for comment Tuesday. Another name that has been mentioned is Kenneth Feinberg, an attorney who oversaw the Sept. 11 victims' compensation fund, but it is largely unknown how his name surfaced. U.S. Rep. Barney Frank, D-Mass. has said that he thinks that the media "made that up."

Volcker, meanwhile, met behind closed doors Tuesday with congressional Democrats to talk about the auto industry and the stimulus package.

Asked if he was interested in becoming the car czar, he joked: "I'm looking for new jobs."



2023 Cadillac CT4-V Blackwing

Follow me on: Twitter Instagram Youtube

Link to comment
Share on other sites

It looks like that's what the Democrats want to do. If that's what happens, it had better be somebody who will do the whole job, like Chapter 11, and not do half the job and drag a captive non-competitive industry into the future.

-- Click Here for CaddyInfo page on "How To" Read Your OBD Codes
-- Click Here for my personal page to download my OBD code list as an Excel file, plus other Cadillac data
-- See my CaddyInfo car blogs: 2011 CTS-V, 1997 ETC
Yes, I was Jims_97_ETC before I changed cars.

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...