Ex-Car Czar to Visit Metro Detroit - Eventually
WASHINGTON — Former auto czar Steve Rattner said Friday he still expects — eventually — to visit Metro Detroit to tout his memoir "Overhaul," despite getting uninvited by the Detroit Economic Club.
Rattner, whose book is an insider's look at the government's auto industry bailout, told reporters in Washington Monday that he still planned a visit to Detroit next week, as part of his book tour, The Detroit News reported.
He was to speak at the prestigious Detroit Economic Club on Oct. 26.
But the invitation was withdrawn after reports surfaced that he is close to settling a Securities and Exchange Commission investigation into a "pay to play" scandal involving his former firm's solicitation of an investment from the New York State pension fund.
Reached by e-mail Friday, Rattner said he plans to "skip Detroit for now," but hopes to come around the time that General Motors Co. launches its initial public stock offering, in late November.
In canceling his appearance, the Economic Club said Monday: "We do not believe it is appropriate to proceed with this meeting, given the recent settlement between Mr. Rattner and the U.S. Securities and Exchange Commission."
Rattner didn't address the club's decision to disinvite him.
In his book on the auto bailout, Rattner writes critically of many former GM and Chrysler Group LLC executives, blasting the management that oversaw the companies for failing to change.
Rattner is scheduled to promote his book in Los Angeles today, and in Seattle, Chicago and Toronto next week.
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