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Officials say GM Chairman and CEO Rick Wagoner will step down immediately at request of the WH
http://www.foxnews.com/ ^
Posted on 03/29/2009 2:12:11 PM PDT by kcvl
Edited on 03/29/2009 4:22:35 PM PDT by Admin Moderator.
[history]
Officials say GM Chairman and CEO Rick Wagoner will step down immediately at request of the White House.
TOPICS: Breaking News; Business/Economy; Constitution/Conservatism; Government; News/Current Events; Politics/Elections; US: Michigan
KEYWORDS: atlasshrugged; automakers; bho44; communism; dearleaderobama; dictatorship; economy; fascism; generalmotors; gm; government; governmentcontrol; michigan; obama; resignation; stimulus; stockmarket; totalitarianism; wagoner; wtf
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To: truthguy
Actually, my cat does post to FR.
As for manufacturing, yes, I have. In fact, I have a small manufacturing concern that I run. Unlike GM, I have no problems making stuff and selling it - but then I ask my customers what they want.
181
posted on
03/29/2009 3:28:24 PM PDT
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: kcvl
No worries. Barney Frank will take over on Monday.
182
posted on
03/29/2009 3:28:31 PM PDT
by
RetiredArmy
(America sits on it's ass while the Marxist - Bolshevik's take over.)
To: taildragger
I agree with your assessment.
I don’t really see this as anything “good.”
The chess game for America is a high-stakes venture.
So before too many here go off on tangent, think about a few things first:
Banks trying to figure out how to give the bailout back.
Other Banks trying to avoid being forced into it.
FDIC insolvent.
Moffet quitting after 6 months at FM/FM.
AIG mess all around
Unable to fill treasury positions
And now a GM Exec. quits on the tails of the 0bama comments today?
Like some of these folks or hate them....they are learning very quickly what government money entails...and they don’t like it.
183
posted on
03/29/2009 3:28:33 PM PDT
by
EBH
(The world is a balance between good & evil, your next choice will tip the scale.)
Restructuring debt
The major sticking point continues to be restructuring the companies' debt. The loan terms call on GM to try to shed two-thirds of its unsecured debt and to get the UAW to accept half of the money owed the union for its retiree health care trust in stock rather than cash.
184
posted on
03/29/2009 3:28:50 PM PDT
by
kcvl
To: April Lexington
To: KansasGirl
[The White House confirmed Wagoner was leaving at the governments 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.] WTF? Obama is now coming out with Govt plans for the auto industry? THIS IS A NIGHTMARE! What a tyrant! Maybe Obama asked Wagoner to fly to Croatia on Wednesday!!!
186
posted on
03/29/2009 3:30:20 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: April Lexington
I came up with this three years ago. Recognize where I got the toilet bowl swirly to put GM in?
187
posted on
03/29/2009 3:30:30 PM PDT
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: EBH
I dont really see this as anything good.I see one thing good.
What CEO would ask the government for a bailout now?
188
posted on
03/29/2009 3:30:37 PM PDT
by
Glenn
(Free Venezuela!)
To: Leisler
Man, I had one of those in high school. NO, not the little mustache, the CAR!!!!
189
posted on
03/29/2009 3:31:31 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: truthguy
As for your query of “what world class cars” - see post 105.
190
posted on
03/29/2009 3:32:00 PM PDT
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: Spktyr
Cheers, ol chap! Loverly little mark for an automobile company!
191
posted on
03/29/2009 3:32:27 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: RetiredArmy
(Obama's)Task force head
* Steven Rattner has said that bankruptcy is not the best option for the industry and that GM and Chrysler might need considerably more than the $21.6 billion they've requested.
* Steven "Steve" Lawrence Rattner is an American financier and private equity investor. He is one of the four founding partners of the private investment firm Quadrangle Group, which invests media and communications companies globally.
Rattner started his career as a reporter with The New York Times, first at the Washington bureau, where he became close friends with Times' ownership-family member Arthur Sulzberger
Rattner quit journalism and joined Morgan Stanley, where he founded their Communications Group
He is married to Maureen White, the former National Finance Chair for the Democratic Party.
192
posted on
03/29/2009 3:33:23 PM PDT
by
kcvl
To: kcvl
Probably some union Sympathizer so it can turn into France Renault and Every Budget year they pump in money!! hahah
sacrame bleu
193
posted on
03/29/2009 3:34:03 PM PDT
by
philly-d-kidder
(Abortion Is the Most Grievous Crime of All Per Jesus Christ to St Faustina in 1934!)
To: Shady Ray
194
posted on
03/29/2009 3:34:09 PM PDT
by
papasmurf
(Trow da' bum out!)
To: kcvl; truthguy
[Nobody is buying cars today.]
My Dad bought a brand new Toyota Tundra and a new Toyota Highlander a couple of weeks ago.
To: kcvl
Wow. That’s going to be a hard sell to the UAW. They would be better off taking the toxic assets off the bank's balance sheets! HEY! Geithner! I have an idea!!!! Call me!
196
posted on
03/29/2009 3:34:36 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: kcvl
I say near 200billion with pensions. GM has something like 70,000 employees and a million pensioners.
I reminds me of a study I did of the cost of the Civil War. Lincoln could of bought each and every slave at top price and it would of been 1/60th the guestimated cost of the war.
We should just cut everyone a check and be done with it.
This industrial cancer is going to go on for years.
If you like the Detroit school ‘system’, you are going to love the GM/Chrysler/Guberment ‘system’. (You better like it too, because the IRS is going to rip the cost out of your hide with rusted electrician pliers while your family watches so that they beg you next time to be more co-operative.)
197
posted on
03/29/2009 3:34:44 PM PDT
by
Leisler
("It is terrible to contemplate how few politicians are hanged."~G.K. Chesterton)
To: kcvl
Get serious. You know what I mean by no one. You know that that’s an expression for VERY low numbers and not absolute zero.
198
posted on
03/29/2009 3:34:46 PM PDT
by
truthguy
(Good intentions are not enough!)
To: Spktyr
Sir or Madam,
I had no political motivation when I placed my order.
None.
I want a vehicle capable of 150 mph with .9 g handling, with the utility of a minivan for under $25,000.
If you believe my purchase was motivated by my support of “Obama and his worshippers,” I would strongly suggest that you are alone in this belief.
Of course, you have every right to believe whatever you wish, just as it is my right to purchase whatever vehicle (or snack food, or household appliance) I wish.
And I thank you for respecting this right.
199
posted on
03/29/2009 3:34:53 PM PDT
by
Peter W. Kessler
(Dirt is for racing... asphalt is for getting there.)
To: KansasGirl
My dad just traded his Chevy in for a new Subaru.
:(
200
posted on
03/29/2009 3:35:19 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
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