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GM chairman forced out by Obama

Discussion in 'Political Discussion' started by reflexblue, Mar 30, 2009.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Its about time someone paid the price for their incompitance. GM hasn't made any real effort to change their behavior over the last 20-30 years. The same can be said for Chrysler and Ford.

    Weather it changes anything remains to be seen.

    BBC NEWS | Business | GM chairman forced out by Obama

    The chief executive of struggling US car company General Motors has been ordered to step down by President Barack Obama.

    Rick Wagoner will leave immediately, a government official confirmed.

    Mr Obama is preparing to outline terms for offering more help to GM and fellow car giant Chrysler.

    The two firms have already received $17.4bn (£14.4bn) in bail-outs. Chrysler has requested a further $5bn while GM says it needs $16.7bn more.

    Plans rejected

    Reports have suggested that a frustrated Mr Obama will reject GM and Chrysler's turnaround plans as unrealistic, raising the risk of the car makers' bankruptcy
    Last edited: Mar 30, 2009
  2. sdaniels7114

    sdaniels7114 Rookie

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    I've little use for punishment. Particularly in this environment where everyone is so angry; but if its the best way to get GM into a master plan that will bring it back to profitability then fine. IE, they should have a good replacement in mind already. So if it takes forever to get a new guy runnin' things, its obvious that this was more about style than substance.
  3. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    At the very least this should cheer up the bleating sheep repeating what they last heard about "personal responsibility" on Nancy Grace or the Rush Percoset show.

    Here ya go guys, personal responsibility.

    Wait, is that only good if people are poor? I forget.

    PFnV
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I imagine he's well deserving of this given GM's situation but I still have a large problem with the President forcing CEOs, or other employees, out. I realize GM got federal money but they aren't owned by the governement. It definitely doesn't feel right to me and seems like a huge stretch in governmental powers.

    Booooo.
  5. tanked_as_usual

    tanked_as_usual Banned

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    so, then.........who is going to toss obama for incompetence
  6. tanked_as_usual

    tanked_as_usual Banned

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    bingo........the problem is that by and large, politicians are politicians because they are largely incapable of being effective in the business world seeing as they are all lawyers
  7. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    IMO he's a sacrificial lamb, but these companies Have been producing poor quality cars for 30 years. Wagoner has been there for over thirty years so its not like Liddy at AIG, he knew what was going on. Anyways I see him like the player Parcells use to cut every year at training camp to make a point,its not buisness as usual
    Last edited: Mar 30, 2009
  8. Stokes

    Stokes Rookie

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    I agree, although I think the article is misleading in that I don't think Obama actually forced anyone out, even as President he couldn't do it if GM didn't want to do it.
  9. tanked_as_usual

    tanked_as_usual Banned

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    but where is the money for GM's survival coming from?

    the political problem with this is now obama is the decision-maker on GM......he is now somewhat obligated to continue funding operations, and would be the main player in the companies ultimate failure.......a slippery slope indeed
  10. Stokes

    Stokes Rookie

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    Oh yeah, I'm totally with you, gov't involvement in private enterprise should always be avoided when possible, I preferred the Romney plan of a managed bankruptcy for the auto makers that would have allowed them to get out from under bad contracts, cut dead weight, and start over rather than just passing on money to them to continue with a failed business model while trying to tell them how to run their companies. All I was saying is that if the board of GM decided they wanted to keep the CEO they could, sure, at the risk of losing gov't help, but the headline makes it sound as if there was no choice in the matter for GM.
  11. tanked_as_usual

    tanked_as_usual Banned

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    the bankruptcy issue is also a political one given guys like barney frank who dont care about the ultimate failure of a corporation as long as his union supporters get to keep collecting money from somebody.........

    bankruptcy would have been the answer 6 months ago.........if they had done it then, things would already be on the way back up for GM now.......leaner, meaner and without the weight of union pension obligations crushing it......sorry to those guys, but if this keeps going, that is all going to come crashing down anyway.......

    if obama really wants to do the right thing at this point, he'd appoint someone like romney to turn GM and maybe the industry around, but he never will simply because romney will succeed and probably shoo himself in as prez over obama in 2012.....because we all know it isn't about doing what is the absolute best for the country
    Last edited: Mar 30, 2009
  12. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    GM stinks and their cars stink but this is just the beginning of your New American Dictator Rising and he is just getting warmed up, Pant Suit Hillary is right there to back him up (It Takes A Village)

    By the end of His Highness Prince Barry's term your Government will be watching you and giving you instructions on how to have a bowel movement, if you are the owner of a small business you might as well hang it up right now.

    The "Obama Campaign And Election Was Brilliant" I can't Comment any further on that (get Bill Clinton mad enough and he'll explain it)

    The far left wing now has the Socialist Dictator they have always yearned for, GM is just the first shot fired.
  13. tanked_as_usual

    tanked_as_usual Banned

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    your constant drone gets as bad some of the libbies around here.......and you offer just as little in constructivity, but then again, that's what you are all about, so good job
  14. Patriot_in_NY

    Patriot_in_NY Rookie

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    Agreed, the guy is a bum, but I am a little (okay, lot) worried about the "stretch in governmental powers" aspect.

    Supposedly, the people. But not for a very long time. :rolleyes:
  15. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Thank you, they created me, just as they created all the other right wing nuts, in fact I was one of them until I saw the LOONS starting to take over then I ran and never looked back.

    The only way to fight them is act like them.......:)
  16. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    Remember when Pete Caroll got fired?....feels a lot like that.
  17. godef

    godef Rookie

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    You think it was punishment? I think it was simply removing somebody incompetent in order to improve GM's chances of saving itself.
  18. tanked_as_usual

    tanked_as_usual Banned

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    I know.........carry on
  19. Patriot_in_NY

    Patriot_in_NY Rookie

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    But should the president have that authority? That is the real issue.
  20. scout

    scout Rookie

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    #15 Jersey

    Actually, he made two bold moves, one he canned the GM, and the other he sent GM and Chrysler back to the drawing board to work on their plans (which also gave the unions something to chew on). Does he have the authority? Harry Truman says, yes he can.

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