Just days before Chrysler and General Motors’ restructuring plans are due to the Treasury, President Barack Obama has decided against appointing a car czar, according to news reports.

Chrysler and General Motors, who already have an agreement for $17.4 billion in government loans, are to submit to the Treasury their plans to update their companies in order to keep those loans.

So, if not a car czar, who is going to oversee the dispersment of the funds? Treasury Secretary Timothy Geithner.

From the New York Times:

Mr. Obama is designating the Treasury secretary, Timothy F. Geithner, and the chairman of the National Economic Council, Lawrence H. Summers, to oversee a presidential panel on the auto industry. Mr. Geithner will also supervise the $17.4 billion in loan agreements already in place with G.M. and Chrysler, said the official, who insisted on anonymity.

The official also said that Ron Bloom, a restructuring expert who has advised the labor unions in the troubled steel and airline industries, would be named a senior adviser to Treasury on the auto crisis.


Tags Automotive industry in the United States Barack Obama Business Business Relation Chrysler Company Reorganization Council on Foreign Relations Economics Economy of the United States Late-2000s financial crisis Person Career Politics Presidency of Barack Obama Presidential Task Force on the Auto Industry Ron Bloom Timothy Geithner Transport

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