Officials say GM Chairman and CEO Rick Wagoner will step down immediately at request of the WH

http://www.foxnews.com/ ^

[kcvl]

Officials say GM Chairman and CEO Rick Wagoner will step down immediately at request of the White House.

[truthguy]

ALL auto sales are down-way down. Some are down more than others. Some companies are in a better condition to weather this storm but no car manufactures, foreign or domestic are doing well.

[Jagman]

Here's another point: Wagoner got sucked into the status quo thinking at GM, perhaps best espoused by "Engine" Charlie Wilson, who apparently said "for years I thought what was good for the country was good for General Motors and vice versa." Wagoner still appears to have thought that the US government would value GM so highly that it do everything in its power to make sure GM (and by extension, Wagoner) would remain as they had in the past. Now, if a street-fighter like Lee Iacocca had been in charge, he would have forced the UAW to approach congress by threatening to declare bankruptcy, dissolving the union and breaking on pension and bennies obligations. At this point, the dems in Congress would have to counterargue that a few union jobs were worth billions and billions of government subsidies on a continuing basis to keep GM afloat.

Because Wagoner didn't have that kind of brains or moxie, we've got a brand new British Leyland on our hands.

[Gene Eric]

>> Shame on Him!

Are you for real?

[Fury]

The problem is that the President of the US does not and should not have the power to “fire” any executive of any private company.

Agreed, but when GM has already borrowed $13.4 billion from the government and wants $16.6 billion more, Wagoner had very little power to stop from leaving.

[Spktyr]

Ford, GM, Chrysler - More money for Obama.
Toyota - no money for Obama.

What’s to think about?

[Mad_Tom_Rackham]

Might as well appoint James Hoffa Jr. It’s nothing but a union welfare scam anyway.

[kcvl]

BTW, a little off subject, if the economy is so bad how come all the restaurants in Shreveport, Louisiana were FULL last night?!

We had an hour's wait!

The malls were full, the casinos didn't seem to be lacking any 'attendees' (from the looks of the parking lot), every concert we have attended this year looks to be sold out, etc.

I don't see anyone suffering as the 'news' media tells me they are. Maybe I just don't know them or haven't met them?!

[April Lexington]

Exactly. We serve our customers too. We give them exactly what they want and we help them over the rough spots so they win. That keeps us in business. I can only wish my Caddy was so designed and built. I try to buy American but it's junk...Just plain junk compared to other makes.

Just one question. What do the Indians want with Chartreuse? I would have thought Ruby!

[EBH]

0bama is taking out anyone who disagrees with him.

The takeover of GM by the 0bama adiminstration is Barry’s private affair with creating a green car.

The companies were the pawns, the execs.?

The gist of my mindset is ...they may have taken government money, but I don’t want the government trying to run them. The government doesn’t have the skills to run them...hell they can barely handle the teleprompters!

[kcvl]

Give it up truthguy. The ankle biters harassing you know more about Oprah than they do of GM.

I know as much as either of you about running a successful business. I also don't watch Oprah. Never have, never will.

[papasmurf]

Keine Entschuldigung noetig meine Liebe.

[truthguy]

Give it up truthguy. The ankle biters harassing you know more about Oprah than they do of GM.

Yes, I think you are right. Fighting stupidity is a tough job but someone has to do it. I think I'll go and watch basketball for a while.

[MIchaelTArchangel]

No big loss to GE. Wagoner was a lot like Robert McNamara in that he left each organization worse off than when he arrived.

[April Lexington]

So...does the DOW tank tomorrow...?

Bigger question. Does Wagoner get to keep his bonus???

[KansasGirl]

He buys new vehicles every couple of years. This is is second Toyota Tundra and second Toyota Highlander. He replaced the older ones. He started buying Toyotas about 10 yrs ago and prefers them. He does have a flatbed work truck. Think it is a Ford.

Btw, he can buy whatever kind of vehicle he wants, IMO. He also owns atleast a couple million dollars in CAT farm equipment so I guess you can’t give him too hard of a time for not buying American.

Btw, I’ll never buy another GM or Chrysler anything, but that’s just me. My husband drives a Ford truck.

[surfer]

truly unbelievable...

[April Lexington]

Sad part is that that 1987 XJ6 with ~250K on it is more reliable than the 2009 Silverado my neighbor just bought. The Chebby’s been back in the shop six times in four months. The Jag just keeps rolling.

Jags are great cars. Better, I suspect, post-Ford. I always remember my MG with fondness. Once in a while it even ran!

[sbark]

Does that mean Obama also has the power to ask Calif Gov. Arnold S. to resign.......

as big as failure to get the job done.....

And now Gov. Sanford of S.Carl. etc look like a genius....

[Mr Rogers]

“...which O man chum will take the helm for the final plunge to the bottom?”

Isn’t there a former mayor of Detroit who needs cash?

[KansasGirl]

Ford hasn’t taken any Gov’t money. Correct?