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.
You are aware that many of the execs receiving “bonuses” (including Wagoner of GM) had agreed to work without a salary for this year, right? This was true of AIG as well: many were getting $1.00 per year, and the “bonus” was a way of compensating them that was supposed to enable them to stay on and incentivize them. In addition, most of the AIG execs were actually not the same ones who had gotten the company into trouble in the first place.
Bambi has NO business interefering in the running of private industry. The idea of the President of the US controlling the operation of our companies is intolerable.
Seems to me this is a vast overreach of power by the Executive Branch. Shouldn’t some corp lawyers be filing suit?
I stand (sit) corrected!
While I agree with your sentiment, actually it was a Republican that confronted Geithner.
“Do you realize how radical your proposal is?” Republican Congressman Donald Manzullo of Illinois asked Geithner during an appearance Thursday.
You said, “The whole company is nothing more than a welfare program for unions using auto production as a front to launder money.”
Exactly!
GM is too corrupt and too sick to save. Even the Socialists seem to be realizing that, but they are betting on an expansion of federal welfare to cover all the GM “workers”, about 120,000 in the U.S. Watch, as they all become covered by Medicare or Medicaid, and receive other government payments - perhaps Socialist Security payments even before age 62.
The Socialists control our government, and the will act in accordance with the principles of the former USSR. Another excuse to expand class warfare.
Am I the first one to ask, If the CEO is asked to leave, why not the Union Leader too?
Aren’t they BOTH the source of the problem, or are some culprits more equal than others?
Gesundheit!
We (the American taxpayer) should have bailed out General Motors, Chrysler, and American International Group (AIG) AFTER they filed for bankruptcy. The automakers’ stockholders should have been completely wiped out, the bondholders should have taken over the company, and the Union contracts re-negotiated. The bogus claims that these companies couldn’t get bank loans after filing for bankruptcy were just that — bogus. These companies couldn’t get any bank loans before they filed for bankruptcy.
Next up...
File Bankruptcy and you have to do time in Tora Bora....
LOL you really expect a Democrat to ask the Union boss to step down....
hahahahahahahahahahahahahahahahah!!!!!!!!!!!!!!!!!
Remember Emanuel's "Never waste a crisis." Why would they want to resolve a crisis? They can't find anything more to milk from it?
Thanks for those links. Very interesting....
And that is what is so disturbing about this. Who cares if the guy was good at his job or not - how many of us are more than a little unnerved by the idea that the US executive branch is forcing out the CEO of a corporation? *waving*
These people have bankrupted Social Security, Medicare, and can't even run a railroad. They can't protect our borders, they can't manage ANYTHING!!!!
AND THESE PEOPLE WANT TO RUN OUR HEALTHCARE?
NOT ON MY WATCH!!! FRIGGIN BASTARDS!!!
Is that the Asstek? Remarkably un-wantable.
Dow dropping like a stone! Down over 200 points already!
I'm glad it was a Republican and thank you for the correction. The labeling on the FOX bite was a "D".
As I posted yesterday, the market should crash if the business community understands what communism will do to them and the country. It looks that they get it and that the American people will demand a stoppage to 0bang0's dictatorship.
I guess that when Hugo Chavez Junior says to jump, you jump. If it had been me, I would have told him to go F himself.
I guess he didn’t want to get the AIG executive treatment. You know, media villification for days, Bambi informing his ACORN goon squads of the guy’s home address, etc.
Unless I'm mistaken, Wagoner had agreed back in the fall to work for ONE DOLLAR A YEAR until GM got straightened out.
Let's see who else Zero can find to take that bullet.
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