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.
Yes.
I think in the end, GM will like like this for the North American market:
Chevrolet
Aveo sedan and hatchback (all new model coming in 2010)
Meriva "tall wagon" based on new Aveo platform
Cruze sedan and possible coupe model
Malibu sedan and wagon based on Opel Insignia platform
Volt plug-in hybrid electric vehicle (PHEV) sedan
Corvette sports car
Cadillac
BLS small sedan (new model coming in 2010, based modified Cruze platform)
CTS sedan, hatchback and wagon
DTS sedan and possible wagon
SRX medium SUV, possibly available with hybrid drivetrain
Escalade large SUV, switched to turbodiesel power using Duramax engine
GMC
All light trucks, small and large SUVs (Chevrolet will get out of light truck/SUV business)
This plan works the best because it gives clear definition of the product niches GM will fill to compete against other automakers.
Dictators kicking out CEOs and replacing them with the “right” people is quite normal in dictatorships.
When it happens here, it tells me that we crossed the line from a socialist country last month to a communist dictatorship on this black Sunday.
If the market doesn’t crash tomorrow, it’ll prove that the American business community is scared to death to oppose zero who is running us into the ground in a little over two months.
Prayers up for our beloved country.
quotes about it.
Welcome to the Soviet Socialist Republic. of Hussein.
If they had the management to choose such models with fierce boldness (nope), they still would have to sell them at a price that does not involve a 30+% depreciation driving off the lot (can't).
Whatever Chairman Barack wants, Chairman Barack gets. These Communistic crap must be met with force to resist.
A federal bankruptcy judge with experience in ch.7.
It seems most people see this as a political move to give GM more money while Obama is out of the country getting accolades from his so-called fans.
Rick Wagoner, chief executive of General Motors Corp., announced earlier this month the company had to close four plants that make trucks and SUVs because of lagging demand as fuel prices soar. That followed the posting a $39 billion loss in 2007, a year when its stock price fell by about 19 percent, without adjusting for dividends.And Wagoner? His pay rose 64 percent, to $15.7 million.
Not one word on the UAW, the REAL problem. I am amazed at Obama’s response. His judgment is beyond naive. Gettelfinger should resign, and GM should be allowed to go bankrupt. Wages that are unreasonable have placed GM in a losing position and the UAW won’t budge an inch. Fire them all!
Wait until Obama releases Gitmo prisoners in the United States and gives them WELFARE benefits like they already claimed they would do!!!
Talk about an outrage!
Looks good, but what about Buick? Toast?
Michael Moore is that you???
With the companies that have become penny-stocks overnight since Hussein got elected, I’m glad I’m not a stockholder on anything.
Our goose is being cooked.
Yep. Most big bosses have pet projects and they rarely turn out well.
@Porkulus Is Obama also going to replace governors of bailed-out states with federal appointees?
I'm for that.
Where is it written that GM and Chrysler has to stay in business?? Just because they declare bankruptcy doesn’t mean they won’t shutdown.. Time to trim the fat..
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