Big news today: As published in both today’s Wall Street Journal and Oregonian [Update, this news first broke due to investigative reporting by Willamette Week.], as part of the recently announced federal bailout package for automakers, control of General Motors has been transferred via receivership to a group of government agencies with expertise in transportation management:
The once-titan manufacturer’s well-known brands and lesser-known operating units will eventually be divided into component parts, but for the time being are held as a single entity designated National Car Lines. Not limited to just GM, government officials briefed on the plan state that NCL is structured as a holding company for the express purpose of acquiring automakers throughout the United States.
In what is thought by some observers to be a related move, Oregon Iron Works, in a televised press conference this morning, announced plans to outsource streetcar and naval craft production to Michigan.