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.
True, and most boards are not composed of people from the corporation's industry. That is not the role of a board. They don't run the company. That's what CEOs, COOs, and VPs do. Boards are about governance, auditing, compensation, etc.
What did Colin Powell know about AOL? What did Vernon Jordan know about anything?
That said, there is no doubt knowledge and experience close to the industry of the corporation who's board one is serving on could be beneficial.
Furthermore, Sarbanes-Oxley restricted board membership to prevent corporate officers from a corporation's suppliers, customers, and partners from serving on its board. Often times, these people have the greatest insight into a corporation's operation.
I don't see either of those powers granted in the Constitution...And of course two wrongs don't make a -- right!
“0bama and his communist trailers agree with the world diehard communist who never forgave the US for the USSR collapse. They are out for revenge en masse.”
I think you have a firm grip on the real situtaion, while a lot of people still aren’t catching on.
Our enemies could never destroy the US from the ouside, but now that a Manchurian candidate is our president, who is actively engaged in destroying and weakening the US from the inside, they will succeed, unless the American people wake up before it’s too late.
That’s why Obama is in such a hurry, to push the US past the point of no return, before people realize his true agenda: destroying the US and turning us into a third world nation.
I will take the management at GM over the UAW or Obama/Pelosi/Reid any day.
The 2010 Cadillac Pelosi will be Car and Driver magazine's Car of the Year....or else the editors of the magazine will be put in a gulag.
The whole company is nothing more than a welfare program for unions using auto production as a front to launder money.
China is freer than the US is about to become.
___________
Why not? Americans all seem to be such willing participants? Piece of cake for any dictator really. We all work and pay our taxes, no matter how high they go, just like good little girls and boys. We don’t make waves. We let the media report fake crap day after day.
Hadn’t thought about it but I guess you are correct, ol’ jug ears could ask that failure of a governor to resign. This is nothing more than the systematic takeover of the financial and industrial base of the nation. Thought I would never see the day.
ANd what about Obama telling bank CEOs — who did NOT take any gov money that they must not be paying bonuses?
And what about the treasure SEc (with Obama’s direction) is asking Congress for powers to seize private firms at will?
If you don’t see where this is going, it’s time you open your eyes, instead of trying to justify Obama’s actions.
At the request of the WH? Is that code for gun to head?
LOL..yes it is.
HA...if YOU think I’m trying to “justify Obama’s actions” you are mistaken...I’m just saying, when anyone takes any gov’t money, there’s a price....States are finding this out....I abhor the annointed one...
This is scary when an anti-business WH can dictate to companies. Good, bad or ugly, the board should be dictating the direction of GM, not the White House. I pray they don’t put a union friendly boss in his place.
Possibly, Nikkei is down 185 points in the first 15 minutes of trading...(7:15PM PST)
Our spineless Republicans are not standing up like a Democrat, yes, you heard me right! The house Democrat (I forgot his name) faced Geithner and told him how radical he is. Geithner was shocked beyond belief and couldn't believe the salvo is coming from a Democrat. A house Republican WOMAN cornered him on where in the Constitution he got his powers and he couldn't answer the repeated same question!
Where are the Republican men? I use the term loosely for the balless Republicans, pardon my French.
We, conservative Republicans, can't win another election without standing up for the preservation of our wonderful country. Why SHOULD we win after cowering to this 0dictator?
My issue isn't with them. It's with the politicians and union bosses. The politicos have ways of forcing you to buy the eco friendly car instead of what you want. $9/gallon federal gas tax, 200% luxury tax. They own it, which is what they wanted. Now they have control.
"What most people really object to when they object to a free market is that it is so hard for them to shape it to their own will. The market gives people what the people want instead of what other people think they ought to want. At the bottom of many criticisms of the market economy is really lack of belief in freedom itself. The essence of political freedom is the absence of coercion of one man by his fellow men. The fundamental danger to political freedom is the concentration of power. The existence of a large measure of power in the hands of a relatively few individuals enables them to use it to coerce their fellow men. Preservation of freedom requires either the elimination of power where that is possible, or its dispersal where it cannot be eliminated. It essentially requires a system of checks and balances, like that explicitly incorporated in our Constitution..."
-- Milton Friedman, The New Liberal's Creed: Individual Freedom, Preserving Dissent Are Ultimate Goals," May 18, 1961
Gun? libs? God forbid!
And NONE too soon!
Gee, I wonder if his replacement will have a MUSLIM sounding name?
Yeah, that POS Barack and cabal need to be dealt with now.
What bothers me is that the announcement itself comes from the White House.
Regardless of Wagoner’s culpability, why is the White House in charge of any business again?
Such a big change in so little time.
Fascism, anyone?
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