CLEVELAND, Dec. 1, 2010 /PRNewswire/ -- The editors of Business Finance will hold a special live webinar featuring "car czar" Steven Rattner on Thursday, December 16, 2010.
Rattner, leader of the Obama Administration's auto industry restructuring task force, will perform a postmortem on General Motors' historic turnaround. Rattner examines how GM's once renowned finance organization fell into fatal disrepair - without the tools and best practices required to manage its own working capital.
Rattner witnessed some of GM's incredible financial miscues, including:
- A CFO with little notion of how much cash the company needed to operate day-to-day.
- A balance sheet stitched together from emailed reports.
- A financial model consisting of a spreadsheet that had been "value pasted" – the numbers had been entered manually and no underlying formulas tied them together.
Rattner will address the organizational changes that crippled GM's leadership development, putting finance on a path of diminished value - and sending a company into bankruptcy. He'll explain how GM was put back on the road to recovery, and lessons every financial professional can learn from this story.
As a complimentary gift, 200 random attendees will receive a copy of Rattner's Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry.
Register for this webinar at:
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SOURCE Business Finance