Monday members of President Obama’s Auto Task Force will be visiting GM’s headquarters in Detroit. This trip is intended to be part of the Task Force’s effort to decide whether GM is a viable company, the deadline for which is March 31st. A decree of viability will likely enable GM to receive further loans, the alternative could be bankruptcy.
The Task Force is led by by Wall Street financier Steven Rattner and Steelworkers union official Ron Bloom who will both be in attendance The team will meet with senior GM executives as well as top UAW officials. Some of the day they will be at Chrysler’s headquarters.
The team’s visit includes a stop at GM’s Warren Technical Center where the Chevy Volt development program is based. Some of the Chevy Volt mules are being tested there.
Per the Associated Press, anonymous sources report that members of the Task Force will actually be given an opportunity to test drive the Volt prototype.
Cabinet level members of the team including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers, will not be in attendance.
Meanwhile John McCain who did not get a test drive when he visited the Volt, speaking for the Republicans issued a stern statement. He told Fox New Sunday “The best thing that could probably happen to General Motors, in my view, is they go into Chapter 11.”
We look forward to the test drive, and the review better be good. That little Volt prototype now hold the keys to GM’s survival.
This entry was posted on Sunday, March 8th, 2009 at 8:36 pm and is filed under Financial, Politics, Prototypes, Test drive. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.