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

http://www.foxnews.com/ ^

[popdonnelly]

My trust in our Federal government has been just about worn out. Time to get really worried.

[Cacique]

And in breaking news GM has announced it is selling itself to the YUGO auto car company for the tidy sum of $1!!!!

[shoutingandpointing]

Although I am not a fan of General Motors, I see this as a disturbing precedent. Government intrusions into the marketplace (especially those by BHO) are just another slippery step down the precipitous slope of Socialism/Communism.

--

For those who are too giddygleeful to see the forest for the trees and the ramifications for Joe Sixpack, the story here is not about Wagoner or the Big 3:

"THE BOSS: [XYZ] DEMANDS GM CEO [insert small, medium, or large corporation CEO, or business owner-operator, or LLC holder, including yourself if the hat fits, of choice] RESIGN"

"There but for the Grace of God there go. . . ." Think. Just think.

[SunkenCiv]

G.M. Chief [Wagoner] Is Said to Be Resigning in Deal With U.S.
(Demanded by Obama)
nyt | : March 29, 2009 | BILL VLASIC
Posted on 03/29/2009 3:29:49 PM PDT by Red Steel
http://www.freerepublic.com/focus/news/2217650/posts

GM CEO resigns at Obama’s behest
Politico.com | 3/29/9 | Mike Allen
Posted on 03/29/2009 3:33:33 PM PDT by bimboeruption
http://www.freerepublic.com/focus/news/2217652/posts

[6SJ7]

"Get me a gallon of water, a stick of gum, 60 billion dollars and I can make this car run!"

[grellis]

If you would like to be added or dropped from the Michigan ping list, please freepmail me.

[ethel rascel]

Kent Kresa is an engineer.

Northrop Grumman CEO (1990-2003)
BS Aeronautics, Massachusetts Institute of Technology (1959)
MS Aeronautics, Massachusetts Institute of Technology (1961)
EAA, Massachusetts Institute of Technology (1966)
Administrator: Trustee, California Institute of Technology (1994-).

But you're right, he's not a car guy.

[Leisler]

"But there can be little doubt that we are turning over control of our economic life to the state as they did in Nazi Germany in the 1930s, and we must remember that the loss of our economic freedoms does entail an effective loss of political freedoms. F. A. Hayek 's The Road to Serfdom warned a free people how quickly they can lose their political freedom due to the pursuit even of well intentioned but poorly thought out ideas related to economic policy. Hayek's warning was directed at the Western allies, namely the UK and US, and he used Germany and Russia as his examples. At the time he wrote, intellectuals in the UK and US thought they could avoid the political pitfals of Germany and Russia while benefiting from the presumed 'superiority' of the economic model of government planning. Hayek's classic warning challenged that belief in the workability of democratic socialism."

"Perhaps a more timely book to read than even Hayek would be Mises's Omnipotent Government and in particular the sections on the German economic model of national socialist policy. Our current policy path seems more along those lines, then outright expropriation of private property by the government. In the German model, Mises argued, private ownership was nominally maintained and the appearance of normal prices, wages and markets was kept. But in reality entrepeneurs were replaced by government appointed shop managers and the government dictated how the "capitalist" must use his funds and what wages workers must work for. Government effectively controlled production and distribution. "This is," as Mises put it, "socialism in the outward guise of capitalism. Some labels of capitalistic market economy are retained but they mean something entirely different from what they mean in a genuine market economy." (1944, p. 56)

Article here

[angelcindy]

what about that lying geithner he;s the one that needfs to resign

[proudtobeanamerican1]

That’s funny. I had a neighbor like that. New Harley, new four wheeler, new G6, new Ford Truck, new boat, new Mustang....not sure which one, but it was a special numbered edition on a special loan, no payment for a year. Guess What? Foreclosed on his home with a mortgage maxed out to twice the value of the home (And 20 grand from hail insurance damage in his pocket) and gave the Mustang back without ever making a payment on it!

I don’t understand how anyone can be confused with how this country got to this point.

[taildragger]

Car guys can't make it in Aerospace ergo Karl Karpek at Pratt and Whitney, his claim to fame the Fiero and he was a disaster IMHO.

But it seems aerospace top wonks can make a car company work ergo Mulally.

My guess is after speaking to one of my gnomes, no one is going to want this job...

[NCBraveheart]

Who died and made Obama a king?

[Leisler]

Thanks, for the correction.

Looks like a life time academic too and head of a Defense contractor. Not really my idea of breading grounds for quick footed decision makers for the private sector.( Although I admire MIT a lot.)

[nobama08]

What does Nobama know about running any kind of company? He won’t be happy until America collapses.

[nicollo]

Have you explored Federal regs on domestic/ foriegn content requirements? Just start there, forgetting workplace, labor, enviro/ safete/ blah/ blah / blah regs and you can begin to see the fix GM is in.

[Leisler]

Old, old story from many places, many peoples.

"In the end they will lay their freedom at our feet and say to us, 'Make us your slaves, but feed us.'" (Dosteovsky's Grand Inquisitor.)

[plangent]

“Oh the shark has pretty teeth dear,
And he shows them pearly white
Just a jack-knife has Macheath dear
And he keeps it out of sight.”

[shibumi]

"Who died and made Obama a king?"

The American electorate.

[yield 2 the right]

“So this is how liberty dies, with thunderous applause.”

[Petronski]

This is fascism.

Yes.