The Obama autos task force is meeting with General Motors officials now to speed its restructuring process, an administration official was quoted as saying.
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“The goal is to accelerate the process that the president laid out [on Monday last week],” the official told Reuters. “They will be in Detroit [until] the end of the week and will be returning next week as well.”
Other sources have said earlier this week the automaker was in “earnest” preparations for a possible bankruptcy.
The White House official told the news agency a group of 15 – including US treasury official Harry Wilson and experts from the Boston Consulting Group and Rothschild – arrived in Detroit on Wednesday to “continue the process of business diligence with GM’s new team”.
A GM spokesman told Reuters the meeting was not unusual. “They’ve been working together with us since the taskforce was created,” Kerry Christopher said. “GM was given 60 days to restructure so a lot of things need to take place over the next two months.”
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By GlobalDataSeparately, the White House said Ed Montgomery, who is spearheading efforts to help communities suffering from the auto industry’s downturn, would visit Ohio on Thursday to “discuss the president’s support of a strong American auto industry and the president’s auto task force initiative to support and revitalise auto industry workers and communities”, Reuters added.
