GM May Need Up to $30 Billion in Gov't Aid

The task force will include some now familiar government faces -- it will be headed by Treasury Secretary Timothy Geithner and National Economic Council director Larry Summers -- as well as a less familiar one: Ron Bloom.

Bloom, a restructuring expert, has worked with both unions and Wall Street: He advises the United Steelworkers Union and, in the 1980s, served as a vice president at the investment bank Lazard Freres.

"He's been effective in dealing with both labor issues and financial issues," Cole said, "so he's the kind of person you'd like to see in the middle of this delicate discussion."

In a statement today, the USW called Bloom "the perfect negotiator."

Bloom, the union said, had restructured 50 bankrupt companies.

"Solving the problems of the domestic auto industry is a monumental challenge, but Ron has tremendous ability," said USW president Leo W. Gerard. "There's not much you haven't seen when you've restructured 50 companies in bankruptcy."

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