GM CEO Resigns At Obama's Behest!!!???, page 1/
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Topic started on 29-3-2009 @ 07:15 PM by burntheships
General Motors CEO to step down...at President Barack Obama's Behest!?

General Morors has lost about $82 billion since 2005, and has been kept afloat beginning in 2009 with $13.4 billion in emergency loans from the U.S. Treasury. GM is now seeking another 16.6 million in aid.
This is just insane...now we have the Government involved in the private sector to many levels, even extending aid to the suppliers of GM...and the POTUS is running the show???
Anyone else see a problem with this???
Related: GM to Feds, Bail or or we BK
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.


www.politico.com...



[edit]bts 3-29-09

[edit on 29-3-2009 by burntheships]


reply posted on 29-3-2009 @ 09:14 PM by Rockpuck
reply to post by burntheships


Well not to big of a loss for him, he only made $1. Hells, he will probably make a good severance for having the Leader take his job away.

We all know the Gov will pretend they don't want to give them money. The Leader will stand up and say oh, it sucks, I don't want to give em money but I have to, you understand. Then we all grumble, oh that sucks, wish we could do something, but the Leader said we HAVE to save them, we have no choice. They will get the money, change nothing, ship more jobs to Mexico and continue shutting factories in America down with tax payer funds provided from the ever reluctant Leader.

Then, after all this, we foolish citizens will wonder and complain how our country got flushed down the tubes, and we will look for the next political figure head to tell us pretty lies and make us feel all warm and cozy, while selling what's left of our country to the lowest bidder.

This is the America I have come to know..


reply posted on 29-3-2009 @ 10:33 PM by mybigunit
reply to post by Rockpuck


Star for you and your pessimistic view on everything. Man Rock your just so......negative....


reply posted on 30-3-2009 @ 05:26 PM by burntheships
Great comments and insights from everyone so far!

Here is the text of Barack Obama's comments today...

President Obama's remarks on U.S. car industry
03-30-2009

Now, I know that when people even hear the word "bankruptcy" it can be a bit unsettling, so let me explain what I mean. What I am talking about is using our existing legal structure as a tool that, with the backing of the U.S. government, can make it easier for General Motors and Chrysler to quickly clear away old debts that are weighing them down so they can get back on their feet and onto a path to success; a tool that we can use, even as workers are staying on the job building cars that are being sold.

What I am not talking about is a process where a company is broken up, sold off, and no longer exists. And what I am not talking about is having a company stuck in court for years, unable to get out.

GOVERNMENT WARRANTY

It is my hope that the steps I am announcing today will go a long way towards answering many of the questions people may have about the future of GM and Chrysler. But just in case there are still nagging doubts, let me say it as plainly as I can -- if you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired, just like always. Your warrantee will be safe.

In fact, it will be safer than it's ever been. Because starting today, the United States government will stand behind your warrantee.


Di you all get that part at the end...the Government is now backing the warrantee's???

I am in the twilight zone...just blown away by this!!!


reply posted on 30-3-2009 @ 05:51 PM by burntheships
reply to post by jam321


Yes I wonder too...only thing is I have a nagging suspicioun that somewhere someone wants all of those folks out of a job...a systematic destruction of private enerprise...
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