Posted on 03/29/2009 8:19:39 PM PDT by reader25
The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.
On Monday, President Barack Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler. The plan is based on recommendations from the Presidential Task Force on the Auto Industry, headed by the Treasury Department.
The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason.
General Motors issued a vague statement Sunday night that did not officially confirm Wagoner's departure.
(Excerpt) Read more at politico.com ...
Not at all.. They will keep on snoring.
How much do you want to bet each of encounters at least one person Monday morning that talks about how this is such a good thing...that Obama is getting GM on course. There people won't even be liberals, but swing voters that think the 'system' just needs fixing and Obama is the one to do it.
“All your base are belong to us”
— Hussein Osama YoMama Obama
LMAO true Wagoner Does not seem like a quitter they had to put a real nice deal up for him to leave.
I wonder if Obama will require the other moron who helped drive GM into the toilet to resign -— the UNION BOSS.
Yeah, this whole thing is really creepy. Doesn’t the Rules for Radicals playbook suggest the need to target the enemy, isolate it, freeze it and then eliminate it( Wagoner)? God help our country. We have to fight back.
I guess I’ll get a loan from my government sponsored bank to buy my government made car. What the he!! country are we living in again?
See the USSA in your Obamalet
America is asking you to call
Drive your Obamalet through the USSA
America is socialist after all
Obama is not a Socialist. This is not a Socialist act. This is Fascism.
Obama is destroying America.
It is legal if the CEO did this willingly. I’m sure it was blackmail-contrived Fascism, though.
Wonder how much that bonus cost the tax payers.
Is that you art???
Yup, the Obamalet from Federal Motors!
I am curious how the stockholders will react. It use to be that the CEO worked for them. Monday morning will be very interesting on Wall Street. One wonders at the wisdom of making GM leaderless when they most need direction; not that their direction has been very good (I should disclose that I own both Toyota cars and Toyota stock). Post Office, Fannie Mae, Freddie Mac, Amtrak; these are the images running through my mind.
I request that the big Zer0 resign!!!!
This is really no different than Bush doing the same to AIG CEO Robert Willumstad back in September. Not really sure why people are so worked up.
If the government is shelling out taxpayer dollars to prop up poorly run companies than it is our right to have our wills exercised on those companies. Unfortunately the representation of the taxpayers are currently democrats but that just goes back to the elections have consequences thing.
Either way, if we bailout a company I would rather have the government officials (who are accountable to the people) to be a part of calling some shots than to just shell out billions to executives (who are not accountable to the people) with no strings attached like Paulson did last fall.
If GM doesn’t want the taxpayers to tell them what to do then they need to follow Ford CEO Alan Mulally’s lead and run their company with at least some competence and refuse bailout money.
He could certainly demand that GM appoint a particular person as CEO as a condition of receiving federal money. He is exercising dictatorial powers, and to my great regret I believe most Americans will welcome it—just as the Italians and Germans did in the 1920s and 1930s.
“Is that you art???”
LOL No.
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