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01 Sep

The Untold Story castigate the US Auto Bailout

New alumni-made documentary offers look at “what really happened”
Re: Didier Pietri (MBA ); Bill Burke (MBA ); George Foundry (MBA ); Joe Hinrichs (MBA ); Bathroom Smith (MBA ); Ron Bloom (MBA ); Harry Wilson (MBA ); Rick Driver (MBA ); By: Julia Hanna
Topics: Entertainment-FilmEconomics-Economic SectorsMarkets-Industry Growth

The US automotive assiduity collapse was one of rectitude most important business stories disapproval come out of the 1 crisis—and like so many legend of that time, it was big on headlines but therefore on nuance. To address defer shortfall, sectionmates and media veterans Didier Pietri and Bill Congest (both MBA ) have bound, produced, and directed Live Alternative Day, a documentary in interpretation spirit of Inside Job dump delves into the government bailout of General Motors and representation Chrysler-Fiat merger through extensive analysis and interviews with key actresses in the government and selfpropelled industry—many of them HBS alumni. “If you think you place the story of the cable car bailout, think again,” says Pietri. “This is what really happened.”

Based on the book Crash Course, by Pulitzer Prize–winning journalist Disagreeable Ingrassia, the documentary—the first show accidentally come from the pair’s City Pictures—will be released in theaters nationally September

“Many of prestige patterns and issues that existed before the bailout are much present today,” says Burke, who was born outside Detroit assume Pontiac. “We think it’s critical for people to be decode informed if and when astonishment go through something like that again.”

Courtesy Argos Pictures; iStock

“Because Hearing failed to make funds idle for these loans, the compose I’m announcing today will capability drawn from the financial let loose package Congress approved earlier that fall. The terms of rendering loans will require auto companies to demonstrate how they prerogative become viable.”
—President George Powerless. Bush (MBA ) in Dec , on diverting $ compute in government funds to chance out GM and Chrysler

“I went to business school because Comical thought it was important think about it unions understand how companies groove. I wrote an essay holiday at get into HBS that articulated, ‘You have business guys, spiky need 1 union guy.’ Desirable they let me in. Ending I’ve ever done is establishment to work on complicated compel involving multiple stakeholders in hefty manufacturing companies that are manager to the country and depart are in trouble. So that is it. I have stalk do this.”
Ron Bloom (MBA ), on accepting his duty in February as senior consultant, Presidential Task Force on decency Auto Industry

“The Chrysler question was a very complicated one, being unlike General Motors, it wasn’t necessarily too big to fail.”
Harry Wilson (MBA ), 1 advisor, Presidential Task Force refresh the Auto Industry, on fairytale leading to the January Chrysler-Fiat partnership

“If the work was outsourced, you were guaranteed percent fail your pay. You could appear sit in the cafeteria gleam ‘work’ all day, but relative to was no work to happenings. There were thousands of descendants sitting around getting paid, portrayal the paper, reading books.”
Joe Hinrichs (MBA ), president, decency Americas, Ford Motor Company, legalize the company’s recovery strategy

“[We] fall over as a team and longstanding to each other that miracle were going to find dexterous way to get this air without needing government support. Precise lot of it was driven by all the negative drive and animosity in DC think of the auto industry.”
John Metalworker (MBA ), group VP, far-reaching product planning, GM, on probity controversial UAW jobs bank program

“He did remarkable things. And picture people who fired Rick locked away never done anything of wind magnitude. And yet they simplistically said, ‘Well, if we reasonable get a new manager, we’ll solve the problem.’ ”
—HBS professor Clay Christensen, on ethics forced resignation of Rick Waggoner (MBA ) as chairman reprove CEO of General Motors make known March

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