Detroit Bailout is Conditional on Appointment of 'Car Tsar'

10 December 2008

WASHINGTON, DC: A massive rescue of America's indigenous auto industry was hammered out in Washington Tuesday night – a condition of the draft deal being the appointment of a so-called 'Car Tsar' who would monitor the Big Three automakers' costs in excess of $25 million (€19.32m; £16.92m).

At that level the oversight would certainly include the trio's combined marketing and media budgets.

The hotseat, whose occupant is as yet unnamed, would control over some $7.3 billion (€5.64bn; £4.94bn) in marketing spend by General Motors, Ford and Chrysler in the US alone – well ahead of Procter & Gamble's current circa $5.2bn.

In the absence of facts, speculation is rife as to who might be handed marketing's poisoned chalice.

Topping the rumor roster, according to insiders, are attorney Kenneth Feinberg, who administered the Federal 9/11 victims fund, and former Federal Reserve Chairman Paul Volker.

Data sourced from; additional content by WARC staff