Page 5 - Restructuring Exercise News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Some for labor, that weren't sustainable. and it was a restructuring exercise. we felt confident about general motors and chrysler. they've exceed our expectations. they've done a fabulous job. >> can we do this across the sghoord ed schultz talks about it a lot. i care about it a lot. this area between pennsylvania and wisconsin. can we rebuild american manufacturing the way we rebuilt the auto industry? is it big enough, this idea here, to go across the board? >> no, unfortunately, i don't think this model fits completely. this was a unique set of circumstances with companies that had been m...

Through due diligence, put them back together. consulted a lot of experts. we believed there was nothing fundamentally wrong with these companies. they were efficient, making better products. they had too much debt, too many liabilities, and frankly they had some costs, including some for labor, that weren't sustainable. and it was a restructuring exercise. we felt confident about general motors, we felt pretty confident about chrysler. frankly, they've actually exceeded our expectations. they've done a fabulous job. >> can we do this across the board? ed schultz my colleague talks about it a ...

I want to ask you a little secret. what gave you -- you remember after world war ii how all that you had to do was reopen trading zones in europe. that was what the plan was about. get the countries on both sides trading again. recreate what's already there. the strong financial structure and economic trading structure of europe. get it back on its feet. how did you know there was still fundamentals there that could compete? >> we didn't know for sure, but we did the work we do. we treated this like an exercise that i had done in the private sector. we went in there and tore these companies ap...