Boston -- Nov 17th, 2010 -- In response to today’s initial public offering from General Motors, Steven Rattner, former Counselor to the Secretary of the Treasury and author of Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto Industry (Houghton Mifflin Harcourt) said:
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Statement from Steven Rattner, Former Counselor to the Secretary of the Treasury and Lead Auto Advisor and Author of Overhaul, about General Motors IPO
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“This is an extraordinary day for General Motors. This IPO proves that GM has achieved sustainable viability and is exceptionally well positioned for the future. The company, the auto industry and the entire country owe President Obama a debt of gratitude for both providing GM critical financial support and, importantly, insisting on a fundamental restructuring of the company that included shared sacrifice by all stakeholders.”In Overhaul, Mr. Rattner wrote, “If anyone had predicted at the start of [Team Auto’s] work that by the summer of 2010 the auto bailout would be one of the clearest successes of tough presidential decision making, they would have been derided.”Mr. Rattner is available for comment. Please contact Houghton Mifflin Harcourt for availability.
