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

http://www.foxnews.com/ ^

[Piquaboy]

I sure do hope nothing happens to him on his European trip. He would be sorely missed.

[gwilhelm56]

**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.**

Neither did HITLER, but it never stopped HIM.
So many people climbed all over me about the Hitler analogy.. It’s NO LONGER AN ANALOGY... it’s becoming FACT..

HEIL, OBAMA!

[rgr]

i don’t want a green car

[Islander7]

:-)

[kcvl]

When you have the same people in congress for decades, who have never held a real job, what can we expect?! They have lived off the government most of their lives and wouldn't know the first thing about running a business(or anything else).

Then you have affirmative action hires who actually work in the government running these programs. They have never held any other job either. What do we expect to happen?!

They all get their family and friends hired and we have one large filthy pigsty in charge of our government.

[Old Professer]

And, through Lisa Jackson he will nationalize the electric utilities using the taxing power over carbon fuels courtesy of the SCOTUS who, in their hubristic fit of inanity, declared that CO2 could be considered an air pollutant if the EPA declared it so.

The dominoes are almost all in place and the spectators and table-setters rub their hands in eager anticipation as we await Obama’s flick of the finger to cause the first one to fall.

A rare moment has come in which the electorate is made witness to the fatal flaw in raw democracy and its majority of one meets history once again.

[TenthAmendmentChampion]

Is this constitutional?

I know, silly question.

[unixfox]

They all get their family and friends hired and we have one large filthy pigsty in charge of our government.

Which is why we need term limits!

TAKE BACK THE U.S.A.

[rightinthemiddle]

So, the White House “requests” that a CEO steps down.

There’s something very scary about that.

[pillut48]

Agreed! Bad president/bad precedent!

[shoutingandpointing]

If only this administosity come to save us sooner, we would today have the option of walking into the local ABC (Automobiles By Congress) store and driving out in a new Studebaker Commander Streamliner or freshly minted AMC Gremlin. /s

[rednesss]

"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?"

Well not exactly:

Wagoner's other compensation included $160,000 for personal use of corporate aircraft, $270,000 for personal security, $11,500 for use of company vehicles, and $12,000 for financial and estate planning.

And I'm sure he's still making it, considering he was paid $2.1 million in salary last year, and $15.7 million in 2007. He's not yet qualified for food stamps. Although maybe he'll apply for unemployment benefits now.

[Freeper Fanatic]

I see this as the tip of the iceberg.
The Democrats are going to use the opportunity to take over more of the economy.
I remember how the democrats and their support activists screamed that Bush was taking over and invading their lives. Bush never did any such thing. The democrats are using and creating more opportunity to do what they accused Bush of and they seem to be getting away with it. It's sickening to see the country falling into an governmental black hole which is going to become increasingly difficult to get out of. Where is my Impeach O’Bamma bumper sticker?

[NautiNurse]

[kcvl]

Great logo!

[truthguy]

Then get a Corvette or a Cadillac CTS-V.

[Nick Danger]

[Clinging Bitterly]

Ha. Saw one of those on a lot once while looking for something else - took a closer look and quickly saw it was a minivan in funny clothes - other words a small car drivetrain seriously overloaded with too much car on top - or as others point out a deathtrap.

The last GM (Government Motors?) car I bought was a Grand Am back in '93. I put about 200K on it and it did the job without too much trouble. When I parked it the engine was running fine and still not using oil, but otherwise the car was pretty much used up, lots of electrical problems especially that seemed to crop up all at once. To get it out of my hair I sold it cheap to an acquaintance who never paid me, and a year later he said it was stolen (but I believe he sold it because I start getting phone calls from some stranger wanting the title). Time passed and I found it abandoned on a lot about a half mile from my house so my brother and I punched it & dragged to the nearest junk yard where it has met it's deserved fate.

But that's the thing with a lot of GM stuff - OK for a while then they become total crap with little or no resale value. Though I'm expecting less under the new regime.

[Oldeconomybuyer]

America as we know it is going down the toilet. We are morphing into Venezuela.

[RetroSexual]

Seems to me this is a vast overreach of power by the Executive Branch. Shouldn’t some corp lawyers be filing suit?

You mean the same corporate lawyers who bankrolled the Obama campaign?