In Overhaul, Steve Rattner delivers the first insider, high-level account of the Obama administration, telling the dramatic story of one of its most controversial and precedent-shattering decisions: to assume control, force into bankruptcy and completely restructure Chrysler and General Motors.
Overhaul mixes political warfare and big business shakeups in equal proportions, and comes from a uniquely informed source. Steve Rattner, 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, has crafted a tightly plotted narrative of political brinkmanship, corporate mismanagement and personalities under pressure in a high-stakes clash between Washington and Detroit.
Praise for Overhaul
"Steven Rattner shows a journalist's eye for detail.... OVERHAUL is a feast of political and financial intrigue."
"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."
"While there have been other books about the Obama administration, this is the first from the inside and it is full of glimpses behind the curtain that we usually have to wait four years to see.... The best parts of Overhaul are the vivid pictures Rattner paints of the economic team."
"required reading"
"After Team Auto, GM has a much cleaner balance sheet and is set for a stock market flotation before the end of the year. The government might well get its money back. So those who think Obama is bad for business should read Overhaul."
"[a] surprisingly modest account...Rattner has a journalistic talent for the telling detail, resulting in a memorable tale of life in the middle of the economic meltdown....Rattner deftly draws portraits of the inhabitants of 'the Oval' and the West Wing....Rattner has proved himself a gifted chronicler."
"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."
[a] compelling story about how government reacts to economic crisis...Rattner's book is an extraordinary account of how government, brandishing the stick of bankruptcy, was able in a few months to accomplish tremendous restructuring of a major American industry in ways that had eluded the private sector for half a century or more. (His material on GM's clueless management is truly priceless.)
As counselor to the Secretary of the Treasury, Steve Rattner led the administration’s effort to restructure the auto industry. He is now the Chairman and CEO of Willett Advisors LLC, the investment arm for the personal and philanthropic assets of former New York Mayor Michael Bloomberg. He also appears frequently on MSNBC’s Morning Joe, where he serves as the Economic Analyst, and is a contributing opinion writer for The New York Times.
He lives in New York City with his wife, former State Department official Maureen White, with whom he has four children.
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© 2018 Steven Rattner. Top image adapted from “Steven Rattner” by Daphne Borowski, used under CC BY.