Obama Says He Has 'No Intention' of Running General Motors

Obama Says He Has 'No Intention' of Running General Motors

www.foxnews.com

President Obama said Monday his administration has "no intention" of running General Motors, even as the White House demanded the resignation of the automaker's CEO and called for a "better business plan" before considering lending additional government aid.

As the administration seeks what Obama called "painful concessions" out of General Motors and Chrysler, the president insisted that he does not want them to become "wards of the state."

But he said neither company has submitted an acceptable restructuring plan, so he's giving them additional time to come back with new proposals.

"These companies -- and this industry -- must ultimately stand on their own, not as wards of the state," Obama said at the White House.

(visit the link for the full news article)

I believe that the only way to save the American auto industry is to break up the big three into smaller companies... Whether they want to accept it or not... its the trend.

Its how American steel survived... Not the company... the industry...

... past a certain point large concerns like GM become just too unwieldy to function effectively anymore and they are long past that point.

www.foxnews.com
(visit the link for the full news article)

Oooops, to late Obama! You already started running GM when you fired it's CEO! Just another example of Obama's 'Don't pay attention to what I do, just listen to what I say and believe it' mentality. How many more years of this crap? I'm seriously wondering if he'll make it the full 4 without being impeached or recalled.

I agree, I wish Pontic made their own cars. What happened to the trans am! Why does chevy and gmc make the exect same trucks?

Disagreed. You said "break up the Big three". Why break up Ford? They have not accepted or asked for any federal bailout money yet.

GM had a name change now it is "Government Motors". Next year's model will be an inverted trash can on top of a Go-Ped.

Originally posted by sad_eyed_lady
GM had a name change now it is "Government Motors". Next year's model will be an inverted trash can on top of a Go-Ped.

India already beat 'em to it.

www.latimes.com...

At this point GM and Chrysler just need to face the music and file for bankruptcy already and get it over with. Ditch the unions, re-organize and emerge stronger and leaner.

[edit on 30-3-2009 by sos37]

Obama and his staff are running GM ( Government Motors ). And it's unconstitutional but who's fault is that? General Motors should of never asked for a hand out and should of went the bankruptcy route like other businesses and citizens do. The Government has no business in the private sector and I feel we should ask for their resignation too.

The only way the automobile industry can be saved is to get government out and smart decisions in. The Government can fix this economy by tax cuts, coporation tax cuts and a fair tax system but to do that they would have to give up their power over us and that ain't happening in D.C.

This is just ridiculous. He fires the CEO and then says he isn't running the company. If you can fire the CEO YOU ARE running the company. This is why I decided to stop paying attention to what they say and start giving far more credence to what they do.

Obama is Bush on steroids. After everything we've seen, I can't believe there are still partisans left in America. How clever the machine can be.

Obama Says GM, Chrysler Have Last Chance to Survive (Update1)

This doesn't sound like a hands off approach to me.

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.

This is wild I have never seen anything like it.

uk.news.yahoo.com...

TEXT - President Obama's remarks on U.S. car industry

I still have a truck under warrantee

Originally posted by kozmo
Oooops, to late Obama! You already started running GM when you fired it's CEO! Just another example of Obama's 'Don't pay attention to what I do, just listen to what I say and believe it' mentality.

How many more years of this crap? I'm seriously wondering if he'll make it the full 4 without being impeached or recalled.

sure he will, the sheeple are blind..

not that it matters though he is a puppet, and he will always be a puppet, so when the NWO want him out, he will be out...

but i don't think obama is that nice of a guy.. there is something sinister about him

Demanding the resignation is not the same as forcing the resignation.

Hasn't everyone been griping that the same people that have pushed these companies into the ground are still running them?

Yet, when the government calls for their resignation, obama is accused of taking control.

Fact is, the CEOs should step down. They need better leadership.

Fiat Now in Driver's Seat In Chrysler Acquisition

online.wsj.com...

Documents released by the Obama administration show that Chrysler can't survive without merging with Fiat SpA. The U.S. government also has no plans to provide any additional funding to Chrysler unless it links with Fiat.

First... al the SHEEPLE comments sicken me.

Just saying it implies you are SO MUCH smarter then the rest of us.

Second you guys don't get it.

He wants bankruptcy so he is cutting off the head, next he will deny the money and strangle the company. Third he will force bankruptcy and give the companies to the unions as campaign payback.

He is a COMMUNITY ORGANIZER and that is all he knows. He is giving to his community.

I've heard a lot about this since this happened this morning and i am a bit confused, so maybe someone can clear this up for me.

1) General Motors is a publicly traded corporation and as such is it not allowed to make its own decisions on the magement of it's company?

2) Don't the shreholders (most of whom are taxpayers themselves) have some sort of say in this or has the White House taken that power away as well?

3) Aren't there laws about the Government doing this sort of thing, ie: Making management decisions in private companies tha tmay in the end lead ot more government involvement?

Just a few observations and questions that are perplexing the hell out of me.

It amazes me the level our elected have stooped to during this economic crisis, pointing fingers at deserving recipients, at the same time forgetting to look in the mirror and honestly accept their complicity in creating the climate for the types of financial deals that have created this mess.

Now we have the President demanding a CEO leave and another automaker merge or forget about any more help from Washington?

Is it just me or does this remind you of a blockbuster movie


The Godfather?

I am gonna make you an offer you can't refuse...

I saw an ex-mob guy on one of the news channels last week who said what the current elected are doing is pretty much how the mob operated when he was involved..

It is unbelievable, everyday another WTF moment.

Change, you CAN BETTER believe in...

...Or else







[edit on 3/30/2009 by JacKatMtn]

reply to post by nixie_nox


NO! Fact is they should be left alone to fail! And when you hold the purse-strings to the billions that the companies are requesting to stay afloat "Demanding" is EXACTLY the same as "Forcing" the resignation. Honest to God, do you think you're fooling anyone who is reading this thread???

Originally posted by JacKatMtn
Now we have the President demanding a CEO leave and another automaker merge or forget about any more help from Washington?

And what would you do? Give them the money with no strings attached?

Hell you go a beggin with hat in hand to your town's social services and they tell you EXACTLY what they want and expect of you... before they will even consider helping...

... it should be no less when its a mismanaged company begging billions.

AND to those who say let it fail... on a gut level I agree with you but when I start thinking about it... to do so would affect millions of workers... not just from the automakers but to the companies who supply them and the companies that supply them all the way down the food chain to the hookers and bars outside of the gate... so no...

... Like it or not just letting them fail is the exact wrong thing to do.

It really would be a disaster for the economy... not just the stock holders.

[edit on 30-3-2009 by grover]

ALSO considering GM's management.... which starts at the top meaning its CEO is the most mismanaged company this side of the financial sector... would you even consider giving them billions and keep the same people who mismanaged it in the first place?

I know, I know... that's what we are doing in the financial sector too and it bugs me there also.