BREAKING: Obama demands GM CEO resign

[DavidS]

And he does!

GM CEO resigns at Obama's behest - Mike Allen - POLITICO.com

The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.

The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason.

On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler.

Industry sources had said the White House planned very tough medicine, which turned out to be an understatement. And it went to the very top. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, retirees and the communities where plants are located, the sources said.

 

[random3434]

Industry sources had said the White House planned very tough medicine, which turned out to be an understatement. And it went to the very top. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, retirees and the communities where plants are located, the sources said.

Do you know what will happen? Are they going to reopen some plants they closed down, or give back jobs to the people who lost them at the plants that are still open? That would be great news.

 

[johnrocks]

Yep, now it's all duck soup and caviar,lol.

 

[WillowTree]

The CEO won't care! He was working for nothing anyway.. If obamalama dosen't make the unions make concessions it will all be money pissed away. the American auto industry cannot comptete with the Asians.

 

[random3434]

Yep, now it's all duck soup and caviar,lol.

That doesn't sound very tasty!

 

[DavidS]

Industry sources had said the White House planned very tough medicine, which turned out to be an understatement. And it went to the very top. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, retirees and the communities where plants are located, the sources said.

Do you know what will happen? Are they going to reopen some plants they closed down, or give back jobs to the people who lost them at the plants that are still open? That would be great news.

This should all be revealed tomorrow, I think. Ragoner ran GM into the ground. He even outright admitted that under his tenure, GM put out cars that didn't even come close to their quality standards. They put out shit for cars and he expected to keep his job?? How come Ford doesn't need a bailout? Because of good management.

 

[johnrocks]

Yep, now it's all duck soup and caviar,lol.

That doesn't sound very tasty!

lol, this guy is the one hung out to dry, eveything now happening needs a whipping biy and he is GM's, Ford from what I heard a few weeks ago got a 30 billion dollar line of credit last year or they would be in the same boat as GM and Chrysler, this is nothing more than a political ploy,imho.

 

[Xenophon]

All hail Fidel obama!

 

[DavidS]

All hail Fidel obama!

What?

 

[Xenophon]

When our glorious leader demands, we are happy to obey!

 

[xsited1]

The Socialization of America is almost complete. Welcome to the Obama Nation.

 

[Yurt]

this a scary move. you blind bats on the left can't even see the implications of this....tell me...why doesn't obama ask elected officials who have run their state/local budgets below ground to resign? answer me that.....

 

[Toro]

If a company thinks its necessary to ask for government help, why should the CEO stay?

In the private market, when a restructuring occurs, they usually fire the CEO and hire a new guy. How is this any different? Why should the taxpayer fund a management team that brought the company to the brink of insolvency?

If you want the government to act more like a private business, this is what private business does.

 

[Yurt]

If a company thinks its necessary to ask for government help, why should the CEO stay?

In the private market, when a restructuring occurs, they usually fire the CEO and hire a new guy. How is this any different? Why should the taxpayer fund a management team that brought the company to the brink of insolvency?

If you want the government to act more like a private business, this is what private business does.

your premise is flawed....i think everyone who is against this is also against the government acting like a private business...

this is a dangerous path we are heading down and obama knows exactly where we are going and it fits his plans perfectly

 

[xsited1]

If a company thinks its necessary to ask for government help, why should the CEO stay?

In the private market, when a restructuring occurs, they usually fire the CEO and hire a new guy. How is this any different? Why should the taxpayer fund a management team that brought the company to the brink of insolvency?

If you want the government to act more like a private business, this is what private business does.

I had to read your post 3 times just to make sure I understood what you typed. Do you really believe this? Do you not see this as a huge power grab by the government? This is a war on Capitalism and the American way of life.

 

[Sherry]

I'm not going to applaud Obama for "demanding" that the guy resign.

 

[Toro]

If a company thinks its necessary to ask for government help, why should the CEO stay?

In the private market, when a restructuring occurs, they usually fire the CEO and hire a new guy. How is this any different? Why should the taxpayer fund a management team that brought the company to the brink of insolvency?

If you want the government to act more like a private business, this is what private business does.

I had to read your post 3 times just to make sure I understood what you typed. Do you really believe this? Do you not see this as a huge power grab by the government? This is a war on Capitalism and the American way of life.

What, and asking for a bailout is part of capitalism and the American way of life? GM sticking out its hand and asking for billions in taxpayers money is a part of capitalism and the American way of life?

This is simple - If GM went to private investors to pony up the money they need, the investors would almost certainly fire the guy at the top. That most definitely is part of capitalism and the American way of life.

Frankly, there hasn't been enough people fired at the top who have lead their institutions to the brink of ruin.

 

[dilloduck]

When is Obama intervewing for the next CEO ?

 

[del]

i think this is a good thing because mr. obama has extensive experience working in the private sector.

 

[elvis]

i think this is a good thing because mr. obama has extensive experience working in the private sector.

yeah putting those staples into those telephone polls qualifies him to make corporate decisions.