The Obama Administration has established a task force, led by Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers, to handle the auto-industry bailout and restructuring. Despite rumors that Obama would create a single ?car czar?, the effort will actually be a team one, as General Motors and Chrysler work to turn profits around. The team includes manufacturing, restructuring, and labor experts, as well as Cabinet representatives and Ron Bloom ? a United Steelworkers union advisor and former financier. Geithner will have the authority to revoke U.S. government loans should the automakers fail to meet government conditions.
See "Geithner, Summers to Head Auto Restructuring Panel", John Hughes, Bloomberg News, February 15, 2009