Waggoner was asked to leave. The POTUS does not have the authority to fire him. Only the BOD does.
GM CEO Wagoner to step down at White House request
- Thread starter southwind
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777 fixer
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If a private entity were loaning GM the same amount of money don't you think they would have a say on who is going to run the company? You bet every single red cent they would.
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nuclearfission
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DUH......
Ok then. Next up. Fire Gettleman. Obstructionist Union Prez of the UAW. Abrogate and declare null and void, all Union contracts. All 3; GM, Chrystler, Ford, even though Ford didn't take any "stimulus" money. But, who cares. Include them for the heck of it! You know, while we're here, my as well get them all wrapped up and let's get the all knowing government to fix the whole auto industry in one fell swoop!! Yessiree pal, that should be the next step.
I remember a time when a Repub prez did something to Air traffic controllers. (I figured someone would try to throw that one in there). It would have been a nice try, but, under a FEDERAL agency where SAFETY was the driving force behind the decision.
I take it that you would agree whole-heartedly with my first, maybe even 2nd? post, Tech??
My original post was, Bush did the exact same thing with Fannie, Freddie, and AIG. It is OK for him to ask them to leave, but when our current President does it, the world is coming to an end and he is compared to Lenin.
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nuclearfission
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WAS NOT asked.....FIRED by the current Administration.
2nd. Lets dissolve the Union and their contracts.
whatkindoffreshhell
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Obama did remove the BOD (at least a majority of them).
Next are the bondholders and UAW. Both are playing brinksmanship because neither sees a 'drop-dead' date that a BK filing would force.
I am not advocating a BK filing for either GM or Chrysler. Looking past the automakers and their suppliers, there are about 6,000 local auto dealers that are probably going to have to disappear. That will be a big bang.
The auto task force should install Jerome York and/or Jim Press at the head of GM. Chrysler is history and Kirk Kerkorian is 90 years old so both York and Press will be looking for a new opportunity.
Next are the bondholders and UAW. Both are playing brinksmanship because neither sees a 'drop-dead' date that a BK filing would force.
I am not advocating a BK filing for either GM or Chrysler. Looking past the automakers and their suppliers, there are about 6,000 local auto dealers that are probably going to have to disappear. That will be a big bang.
The auto task force should install Jerome York and/or Jim Press at the head of GM. Chrysler is history and Kirk Kerkorian is 90 years old so both York and Press will be looking for a new opportunity.
NewHampshire Black Bears
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southwind,
Do ya think..this time(as w/the first time)....that the "tea party/ers" will dress up like American Indians, so they can get the BLAME !!..???????
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nuclearfission
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southwind
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Not only is Obama going to declare himself the new CEO of GM, after taking the position by force, hes going to declare GM go bankrupt, then back-up the warranty's with tax payers money !
Again...........Dems and Libs "LOVE" spending other peoples money !
GM Warranty shops around the U.S. will henceforth be called :
"Obama's Fix N' Roll" garages !
Again...........Dems and Libs "LOVE" spending other peoples money !
GM Warranty shops around the U.S. will henceforth be called :
"Obama's Fix N' Roll" garages !
Gilding the Lily
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As part of that new warranty program, the U.S. Treasury will fund 88% of the reserve funds to pay covered warranty claims, while the automobile companies need only to fund the remaining 12% of the reserve fund. In other words, the US Government is funding 110% of the costs projected by the manufacturer to satisfy anticipated claims under the warranty issued on that vehicle.
Only if they want to fail.
777 fixer
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Then they must want to fail because they've been building bad cars since I got my license in 1971
In the past there was a definite ring of truth to this. Back in the seventies and eighties GM put out some real stinkers. To top it off they seemed not to care and treated their customers accordingly. That's part of the problem GM has now, they are paying for the sins of the past.
However if you look at the quality of their product now there's no comparison. In fact Buick just unseated Lexus in the J.D. Power & Associates' 2009 Vehicle Dependability Study.
http://online.wsj.com/article/SB1237503026...=googlenews_wsj
It shows that when US auto manufacturers put their mind to it they can compete with the Japanese in terms of quality. I've mentioned this before but I'll put up my Saturn against a Honda Civic or Toyota Corolla any day
The was a ruse to take profits from oil companies. To seize an auto company and its assembly plants and reconfigure them to produce green cars with retrained workers. Next Exxon Mobil will be forced to reconfigure oil rigs to produce wind mills. With less oil being sold or in demand what will happen to the the plastics industry...that affects cosmetics, baby products and toys and medical supplies? What happens to Middle Eastern, Russian and Venezuelan global oil prices? What other oil industries are next for forced take over? Which airlines should be worried?
