Posted on 03/29/2009 6:05:01 PM PDT by 2ndDivisionVet
General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry.
The officials asked not to be identified because details of the restructuring plan have not yet been made public. On Monday, Obama is to announce measures to restructure GM and Chrysler LLC in exchange for additional government loans. The companies have been living on $17.4 billion in government aid and have requested $21.6 billion more.
Wagoner's departure indicates that more management changes may be part of the deal, but it is still unclear who will be put in charge of GM.
(Excerpt) Read more at news.yahoo.com ...
change
Ya forgot forced to join unions as well .......:o)
This is stunning. Does this mean Obama is now the CEO of GM?
Perhaps these management teams will one day decide that they can’t live a life requiring capitalism and freedom, while supporting the Left.
We are surely headed for civil war.
These idiotic companies that couldn’t see the forest for the trees. Did they really think Obama was goin to give them free money for nothing in exchange? He has an agenda for everything he does. Now, unfortunately, even the companies that DIDN’T accept the money are in danger of being taken over by the government.
bttt
What BHO really wants a new more exspansive set of corporate seizure laws from congress.
What’s a matter BHO, BAILOUTS DIDN’T WORK ?
Elect the “former” GM CEO to Congress !
this is the part where Napoleon the pig sends old Boxer the horse off to the glue factory.
I must have missed something - did zero fire anyone at AIG, etc?
When Hitler became the chancellor of Germany in 1933, he promoted the idea of a car affordable enough for the average working person. The Volkswagen, which means "people's car" in German, was essentially a political promise to win the public's goodwill.
History may not repeat itself but it sure does rhyme.
Fascism is right around the corner!
Dear Rick,
Forget chapter 11. I am in charge. You are fired. Go to HR and pick up your parachute bonus.
Signed,
Resident Obortion
Dictator in Chief
Unfrikkenbelievable!
Seems Obama is starting down Putin’s path - I wonder how far he’ll go?
(Google Yukos & Khodorkovsky)
But He came from tobacco, which is also an emotional, not rational purchase.
“This is stunning. Does this mean Obama is now the CEO of GM?”
Yep, that’s what it means!
Perhaps a hammer-and-sickle logo or a “BLACK POWAH” fist would be more appropos...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.