So, does he get to pick the replacement, too??
Obama’s “administration” should not be stepping into a company’s business like this.
Let just all agree that Wagoner is no Alfred P. Sloan.
Right to speech?
Time to get a Trabant. Get an original is my advice instead of a remake by GM....
“Does anyone else think that’s a bit much to screw some tires on a car?”
Of course it’s too much. Those deals were made when the big three auto makers were the only show in town and it affected all of them equally so it didn’t diminish the auto makers competition, just made the cars more expensive. It was obvious, even back then, that with lousy cars, and a blooming competition from overseas that we would end up where we are. Let the auto makers go into chapter 11, deal with the cost of labor, and try to come out of this with a car that people want to buy. The big three can produce a great car if they just put their mind to it.
Hint: Check out which party’s candidate Wagoner contributed to.
I'll bet it is now that your tax money is paying the thieving parasites.
Lawyers?
Should be titled, “Barack I-am-not-a-socialist Obama takes control of GM.”
Lightning bolts and thunder from on high and GMC kneels!
Unfrikkenbelievable!
Someone needs to post a picture of a picture of Obama with one of his snot-nose snob poses with the caption"Because I Won".
The CEO only had to quit in order for the company to get a bailout; turn down the tax money and figure it out without stealing our tax dollars. If he was that good then he would have had the confidence and knowledge of how to bring the company through the crisis. The fed bailout is what I believe is unconstitutional because it is forcing taxpayers to buy into failing companies and even if the companies do well and “pay back” the funds the taxpayer will never receive a cent back. It is theft of public funds by the government.
HOW? By the same authority always used:
In 1944, Ludwig von Mises published one of his least-known masterworks: Omnipotent Government: The Rise of the Total State and Total War. Drawing on his prewar experience in Vienna, watching the rise of the National Socialists in Germany (the Nazis), who would eventually take over his own homeland, he set out to draw parallels between the Russian and German experience with socialism.
. . .
The difference between the systems, wrote Mises, is that the German pattern “maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets.” But in fact the government directs production decisions, curbs entrepreneurship and the labor market, and determines wages and interest rates by central authority. “Market exchange,” says Mises, “is only a sham.”
. . .
Mises’s account is confirmed by a remarkable book that appeared in 1939, published by Vanguard Press in New York City (and unfortunately out of print today). It is The Vampire Economy: Doing Business Under Fascism by Guenter Reimann, then a 35-year-old German writer. Through contacts with German business owners, Reimann documented how the “monster machine” of the Nazis crushed the autonomy of the private sector through onerous regulations, harsh inspections, and the threat of confiscatory fines for petty offenses.
“Industrialists were visited by state auditors who had strict orders to examine the balance sheets and all bookkeeping entries of the company or individual businessmen for the preceding two, three, or more years until some error or false entry was found,” explains Reimann. “The slightest formal mistake was punished with tremendous penalties. A fine of millions of marks was imposed for a single bookkeeping error.”
Reimann quotes from a businessman’s letter: “You have no idea how far state control goes and how much power the Nazi representatives have over our work. The worst of it is that they are so ignorant. These Nazi radicals think of nothing except ‘distributing the wealth.’ Some businessmen have even started studying Marxist theories, so that they will have a better understanding of the present economic system.
http://mises.org/freemarket_detail.aspx?control=54&sortorder=articledate
Communism: A theoretical economic system characterized by the collective ownership of property and by the organization of labor for the common advantage of all members. A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people. The Marxist-Leninist version of Communist doctrine that advocates the overthrow of capitalism by the revolution of the proletariat.
In a word, NOTHING!
There is nothing in the US Constitution that grants the Executuve Brance any power to interfere in privately owned business. The fact that GM accepted Government funds does not change that.
Read Mark Levin’s book. Get back to Conservative basics and the Constitution before it is too late.