88Comrade2000 Posted March 30, 2009 Share Posted March 30, 2009 http://www.bloomberg.com/apps/news?pid=20601087&sid=aIbMMG6cfihY&refer=worldwide http://news.yahoo.com/s/ap/20090329/ap_on_bi_ge/gm_wagoner http://www.cnbc.com/id/29946309 Frankly, anyone that took a bailout should've had their leaders immediately resign as one of the conditions of being bailed out. Link to comment Share on other sites More sharing options...
deejaydana Posted March 30, 2009 Share Posted March 30, 2009 Wagoner is one pompous ass** and needed to go but when are we going to allow GM and Chrysler to enter a structured BK? I knew three weeks back that was just a mirage when GM said they didn't need more money from us. At this point I wonder if I'll ever consider buying a car made by any of the "Big Three" (which btw, they should no longer be called going forward). **about 5 years back the LA Times (which runs an Auto section, or did back then) published an unfavorable review on one of GM's many 4 wheel disasters. Wagoner threatened to pull all advertising away if they didn't publish a retraction on the story. They didn't. OK, hey Rick how about don't build junk? What a clown, surprised he lasted as long as he did. Link to comment Share on other sites More sharing options...
88Comrade2000 Posted March 30, 2009 Author Share Posted March 30, 2009 It will be the BIG ONE- Go Ford! The auto industry as a whole has to much capacity and it isn't just the U.S. automakers. Link to comment Share on other sites More sharing options...
Gunny Highway Posted March 30, 2009 Share Posted March 30, 2009 Dangerous precedent. Who will the government want to step down next? Why is AIG's CEO still around? Link to comment Share on other sites More sharing options...
Thiebear Posted March 30, 2009 Share Posted March 30, 2009 AIG's CEO is around because he's working for 1$ and was brought in to fix this. Taking bets on how big a "severance package" this guy gets? i'm going with 60million. Link to comment Share on other sites More sharing options...
NavyDave Posted March 31, 2009 Share Posted March 31, 2009 AIG's CEO is around because he's working for 1$ and was brought in to fix this. Taking bets on how big a "severance package" this guy gets? i'm going with 60million. 20.2 million "retirement package." Government Motors will suck if they running the business from a political stance. The Volt is DOA. Thank god Twenty models made a profit for GM 11 of them are Trucks and SUVs but the current climate is set to discourage consumers from buying them, by manipulating oil prices and mandating car guzzler taxes to get people into subcompacts. We aren't Europe. We have wide open spaces and superhighways some of us have big families who are over 6ft tall with long legs. Link to comment Share on other sites More sharing options...
Dictator Posted March 31, 2009 Share Posted March 31, 2009 So when's Obama going to ask the head of the UAW to step down? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 31, 2009 Share Posted March 31, 2009 So when's Obama going to ask the head of the UAW to step down? UAW has too many members that vote. Link to comment Share on other sites More sharing options...
deejaydana Posted March 31, 2009 Share Posted March 31, 2009 We aren't Europe. Not yet but God knows Barry is trying his best to fast-track us into Euro-oblivion. Link to comment Share on other sites More sharing options...
Burgold Posted March 31, 2009 Share Posted March 31, 2009 GM's board and share holders should have demanded his resignation long ago. GM attempted to call the Government's bluff about requiring a restructuring plan by ______ and hung himself. Good for Obama for not backing down and demanding a penalty for GM failing to live up to its agreements. The Government effectively (even if not exactly) became the largest stockholder in GM and therefore had the rights that goes with it. Link to comment Share on other sites More sharing options...
Dictator Posted March 31, 2009 Share Posted March 31, 2009 GM's board and share holders should have demanded his resignation long ago. GM attempted to call the Government's bluff about requiring a restructuring plan by ______ and hung himself. Good for Obama for not backing down and demanding a penalty for GM failing to live up to its agreements. The Government effectively (even if not exactly) became the largest stockholder in GM and therefore had the rights that goes with it. Those "rights" belong to the board of directors. Not the shareholders. Link to comment Share on other sites More sharing options...
GibbsFactor Posted March 31, 2009 Share Posted March 31, 2009 UAW has too many members that vote. We don't discriminate. They can all step down. Link to comment Share on other sites More sharing options...
Burgold Posted March 31, 2009 Share Posted March 31, 2009 Those "rights" belong to the board of directors. Not the shareholders. If you have enough shares of a company you have a lot of say.... just sayin' Heck, I've been begged, petitioned and on a occassionally personally solicited to vote a certain way with my paulty couple thousand shares of certain stocks. Link to comment Share on other sites More sharing options...
81artmonk Posted March 31, 2009 Share Posted March 31, 2009 Wow, so our president is now firing private citizens from their jobs. One in which wasn't around when this particular automaker got into trouble. http://online.wsj.com/article/SB123841609048669495.html The remarks came a day after the administration ousted GM Chief Executive Rick Wagoner and rejected the restructuring plans that GM and Chrysler had hoped would lead to another infusion of government cash If this isn't the govt running the auto industry based on what IT thinks should be produced. Which is part, not all, but part of the reason the auto makers are in the trouble their in. I might add that SUV's and trucks are GM's biggest sellers. With the gas being $2 a gallon now, people don't want smaller hybrid cars. They aren't selling. So now Obama wants them to sell cars that people don't want??? :doh: http://online.wsj.com/article/SB123841609048669495.html GM was also told in no uncertain terms that it must learn to make money on smaller cars–not just trucks and sport-utility vehicles, the dealer said. Link to comment Share on other sites More sharing options...
Dictator Posted March 31, 2009 Share Posted March 31, 2009 if GM "must learn to make money on smaller cars–not just trucks and sport-utility vehicles" then MAYBE something need to be done with the unions. Link to comment Share on other sites More sharing options...
Dictator Posted March 31, 2009 Share Posted March 31, 2009 If you have enough shares of a company you have a lot of say.... just sayin' Heck, I've been begged, petitioned and on a occassionally personally solicited to vote a certain way with my paulty couple thousand shares of certain stocks. I'll plead ignorance on this one....how many shares did the gov't buy when they gave GM bailout $? If that's what it was, a buying of stock, then GM is under no obligation to pay that money back right? Link to comment Share on other sites More sharing options...
twa Posted March 31, 2009 Share Posted March 31, 2009 :hysterical: http://www.cnbc.com/id/29960093 New GM CEO: Bankruptcy May Be Best Option for Automaker Dimwit:silly: http://www.washingtonexaminer.com/politics/Beyond-AIG-A-Bill-to-let-Big-Government-Set-Your-Salary-42158597.html But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies. Link to comment Share on other sites More sharing options...
88Comrade2000 Posted April 1, 2009 Author Share Posted April 1, 2009 Under Wagoner's reign GM has went from 28% to 18% of the market share. He deserved the ax. Link to comment Share on other sites More sharing options...
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