This first real look inside Team Obama mixes political warfare and big-business shakeups in equal proportions, and comes from a uniquely informed source. Steve Rattner is not just the man brought in by the president to save the auto industry, he is a former New York Times financial reporter who also earned a place among the top tier of Wall Street's most informed investment bankers and corporate experts.
Now, from his vantage point at the helm of the historic auto-industry intervention, Rattner crafts a tightly plotted narrative of political brinkmanship, corporate mismanagement, and personalities under pressure in a high-stakes clash between Washington and Detroit. He also explains the tough choices he and his team made, working against a ticking clock and facing vocal opposition from free-market champions, to keep Chrysler and General Motors in operation.
As the economy faced free fall, Obama, Treasury Secretary Tim Geithner, and economic advisor Larry Summers - all revealingly described - faced the possibility of more than a million lost jobs and the astonishing wreckage of GM (a nightmare of huge proportions, caused by terrible management) and Chrysler (a company so close to death it was nearly sacrificed). Rattner's book, which takes the story up to the fall of 2010, is a gripping account of one of the severest crises of President Obama's first year in office, with lessons relevant for all managers and executives.
"Obama auto czar Rattner delivers a vigorous account of the bailout of the automobile industry - a success, though one fraught with controversy... A fine inside-baseball account of how things can get done when people agree to get them done, even in Washington." (Kirkus Reviews)
"Overhaul is filled with delicious descriptions of what happened behind the scenes in the White House and at the Treasury Department as the effort to save GM and Chrysler unfolded... a riveting read." (The Wall Street Journal)
"'Overhaul' is not a Washington memoir, even though it is set in Washington, and it involves one of the most deeply politicized issues in recent memory. It is a Wall Street memoir, a book about one of the biggest private-equity deals in history....unexpectedly fascinating." (Malcolm Gladwell, The New Yorker)
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Overhaul - A Memoir
A tremendous walk-through
- Phil O.