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Next at G.M.: a Restructuring Chief?
NYTimes ^ | 3/20/09

Posted on 03/30/2009 3:47:58 PM PDT by anniegetyourgun

Even as General Motors bid goodbye to Rick Wagoner and ushered in its new chief executive, Frederick Henderson, restructuring circles were abuzz Monday with speculation that another player may soon join the carmaker.

That would be a chief restructuring officer, whom the Obama administration would implant in G.M. to serve as its representative in either a bankruptcy filing or an out-of-court restructuring.

President Obama made no mention of the idea during his speech on the industry Monday. And for now, it seems clear that Mr. Henderson will be in charge at the company. But there are plenty of restructuring experts out there who might relish the opportunity of transforming an American corporate icon.

(Excerpt) Read more at dealbook.blogs.nytimes.com ...


TOPICS: Business/Economy; Government
KEYWORDS: automakers; bankruptcy; bho44; generalmotors; gm; obama; restructure; rickwagoner
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1 posted on 03/30/2009 3:47:58 PM PDT by anniegetyourgun
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To: anniegetyourgun

They bringing over the lemonade stand guy to help out?


2 posted on 03/30/2009 3:49:30 PM PDT by Tarpon (You abolish your responsibilities, your surrender your rights.)
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To: anniegetyourgun

High I am from the Gov’t and I am here to help you....


3 posted on 03/30/2009 3:51:31 PM PDT by taildragger (Palin / Mulally 2012)
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To: anniegetyourgun
Declare bankruptcy, and then ask the BK judge to tell Obama to BUTT OUT!
4 posted on 03/30/2009 3:54:06 PM PDT by Kansas58
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To: anniegetyourgun

Might as well be the UAW’s Gettlefinger.


5 posted on 03/30/2009 3:57:17 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Tarpon

>> They bringing over the lemonade stand guy to help out?

Bet they post an ad on the bulletin board down at the Detroit U.A.W. local hall.


6 posted on 03/30/2009 3:57:26 PM PDT by Nervous Tick (Party? I don't have one anymore.)
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To: anniegetyourgun
Government Motors 2010 model:


7 posted on 03/30/2009 3:57:51 PM PDT by AreaMan
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To: anniegetyourgun

Wesley Mouche?


8 posted on 03/30/2009 3:58:20 PM PDT by Montfort
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To: Kansas58

This is the only way. People can attack GM management and Wagonner but good luck trying to run GM.

The UAW bled them to death. It is very hard to run a manufacturing company when the unions want you dead and the govt is also trying to bleed you to death by taxation, regulation, tort lawyers, the list goes on.

These people are marxists and have no clue on how to start or run a business.


9 posted on 03/30/2009 3:58:23 PM PDT by Frantzie (Boycott GE - they own NBC, MSNBC, CNBC & Universal. Boycott Disney - they own ABC)
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To: anniegetyourgun
When you think of it, bankruptcy is the best thing for Obama and his plans. All those retirees are gonna be frantic about their healthcare and will flood Congress with a call to make good on what their union promised them. And he can blame it all on Wagoner.

Buckeye Newshawk Award Winning Les Nessman

Why, it's almost as if it were planned!

10 posted on 03/30/2009 3:58:36 PM PDT by NonValueAdded (May God save America from its government; this is no time for Obamateurs. Emmanuel = Haldeman?)
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To: Kansas58

They have to ease into a controlled bankruptcy to minimize trouble. I think the auto execs who just declared bankruptcy saying screw the government and the Unions would get killed.


11 posted on 03/30/2009 3:59:20 PM PDT by Anti-Bubba182
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To: anniegetyourgun

Obama knows exactly what he’s doing! Just look at Obama’s impressive list of Fortune 500 companies that he built and ran.

1)

2)

3)

4) see #1


12 posted on 03/30/2009 3:59:38 PM PDT by avacado (Impeach the Teleprompter!!!)
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To: Anti-Bubba182
I disagree.
The legal responsibility of a BK judge is to protect the value of the company.
The BK judge would be MUCH easier to deal with than these Communists in the Obama administration, or the Communists at the UAW!
13 posted on 03/30/2009 4:04:34 PM PDT by Kansas58
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To: anniegetyourgun
GM is hereby radioactive goods.

Why would anyone by a car from the government?

14 posted on 03/30/2009 4:07:59 PM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Kansas58

I am talking about the danger of some disgruntled pensioner or fired worker shooting the executive. The legalities have little to do with it. If the bankruptcy is a controlled one where workers know what will happen and have SOME protection it will be safer.


15 posted on 03/30/2009 4:13:04 PM PDT by Anti-Bubba182
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To: anniegetyourgun
Once upon a time there was a country that had lots of such posts. They called it the Political Officer.
16 posted on 03/30/2009 4:16:03 PM PDT by Ramius (Personally, I give us... one chance in three. More tea?)
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To: Seaplaner

Re: “GM is hereby radioactive goods.
Why would anyone by a car from the government?”

***************

Agree — anyone visit the old Soviet Union? I did, and cars were a huge problem — there were two or three Soviet run “brands,” all of them garbage.

Anyone who could somehow score a “western” car was truly envied and had to protect his prize.

So much about Zero’s administration reeks of what I saw in Russia and East Germany, ca. 1970’s. We are careening down a very bad road folks!


17 posted on 03/30/2009 4:19:32 PM PDT by CaliforniaCon
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To: anniegetyourgun

Who is this new guy?


18 posted on 03/30/2009 4:25:11 PM PDT by texmexis best (uency)
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To: anniegetyourgun
...chief restructuring officer, whom the Obama administration would implant in G.M. to serve as its representative...

More commonly known as a Political Commissar.

19 posted on 03/30/2009 4:28:03 PM PDT by Charles Martel ("Endeavor to persevere...")
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To: anniegetyourgun

Shouldn’t that be a ‘Reconstruction Czar’?


20 posted on 03/30/2009 4:29:20 PM PDT by Gator113 (For America to Survive, Obama Must Fail..... Obama=Failure in Chief with the Audacity of Dope.....)
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