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 ...
They bringing over the lemonade stand guy to help out?
High I am from the Gov’t and I am here to help you....
Might as well be the UAW’s Gettlefinger.
>> 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.
Wesley Mouche?
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.
Why, it's almost as if it were planned!
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.
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
Why would anyone by a car from the government?
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.
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!
Who is this new guy?
More commonly known as a Political Commissar.
Shouldn’t that be a ‘Reconstruction Czar’?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.