Levin says car execs should resign for aid

United Press International, Inc. ^ | Nov. 16, 2008 at 4:42 PM

[SSS Two]

WASHINGTON, Nov. 16 (UPI) -- U.S. Sen. Carl Levin of Michigan said Sunday he would not object to firing executives of U.S. automakers that get proposed federal bailout money.

The Democrat said in an appearance on NBC's "Meet the Press" program that senior management at General Motors Corp. (NYSE:GM), Ford Motor Co. (NYSE:F) and Chrysler Corp. should consider resigning their posts if it means their respective firms can get federal assistance.

Congressional lawmakers are considering $25 billion in emergency loans for the struggling car makers. The Senate reportedly will take up a bailout proposal Monday.

"If it was the difference between getting this kind of support or not, obviously the management should consider resigning," Levin said. "If the government wants to intrude that much into the operations of a company where it can decide who is the right management and who isn't, then I believe they should consider resigning."

Critics of the bailout, including Sen. Richard Shelby of Alabama have said automakers should make deeper cuts rather than seeking a government bailout.

"They're a dinosaur, in a sense, and I hate to see this because I would like to see them become lean, and hungry and innovative," Shelby said of the car makers. "And if they did and put out the right product, they could survive. But I don't believe the $25 billion they're talking about will make them survive."

[SSS Two]

I wonder if Sen. Levin is in favor of disbanding the labor unions that have placed Detroit in such trouble.

[Koblenz]

I’m against bailing out the auto companies. However, if we do bail out the auto companies then fire the top management, who is going to lead them? I just don’t think there’s a lot of people with extensive experience that could be hired. And if there were, they’d have to be convinced to work under strict government oversight. And in Detroit. Good luck with that.

[KoRn]

"I wonder if Sen. Levin is in favor of disbanding the labor unions that have placed Detroit in such trouble."

Right. The union bosses should go out the door along with the executives.

[Fred]

Oh, yeah, ok, I am convinced that will fix everything..not!

Time for Levin to resign and take the worthless Gov of Michigan with him.

UAW chief urges $25 bln in U.S. auto health care support (Union bailout-payback for $400,000,000) - http://www.freerepublic.com/focus/f-news/2127523/posts

Who's your DADDY Obama?? - - Youtube The One on Card Check

Why Doesn't Toyota USA Need A Bailout? - - http://www.freerepublic.com/focus/bloggers/2130909/posts

[originalbuckeye]

He obviously thinks that all executives are Republicans. I'd love to see the Unions slammed but no Dem is going to do that. The Unions, along with George Soros, own the Dems.

[ethics]

I doubt it.

the Unions are the GOOSE the lays the GOLDEN EGGS for politician!

[tubebender]

Does that include Senator Dingle’s wife who is a exc at GM...

[razorback-bert]

You would think that the union would be able to scrape up the $7 billion to buy the companies.

[Tai_Chung]

Perhaps members of Congress should resign if they vote to raise taxes. Isn’t the concept of a tax increase similar to a bailout? Congress can’t meet their obligations and wants to have taxpayers bail them out.

[Osage Orange]

I wish the car company execs would tell them....

"You first! When Barney Frank, Meeks, Dodd, Waters, et al...resign for being the root cause of this melt-down...we will resign"

I can dream.........

[FlingWingFlyer]

You would think that the union would be able to scrape up the $7 billion to buy the companies.

I think they went in the hole getting their Kenyan Manchild "elected."

[csmusaret]

No the entire Congress should resign. The last good thing they did was declaring war on the Axis powers.

[truthingod]

Getting rid of the auto execs will not solve this problem. There is only one way: get rid of the unions and the bad legacy contract costs.

[truthingod]

The worthless governor of Michigan is probably picking out a house in DC right now. She has her eyes set for Washington.

[walford]

I wonder if Sen. Levin is in favor of disbanding the labor unions that have placed Detroit in such trouble.

[This_far]

I wonder if U.S. Sen. Carl Levin of Michigan would consider issuing “Levin Stocks” to each and every of his constituents?

Come his next election, they might have a better idea of well he has run their ‘company’.

[Petronski]

I don’t recall Carl Levin ever saying anything intelligent, so this is a first.

[Osage Orange]

He still hasn’t.....IMO

[Petronski]

Well, I'm opposed to any bailout, but if it does eventually happen, Wagoner et al. should be sacked, and making it a condition of the bailout is a pretty smart term for an otherwise bad plan.

[Osage Orange]

I just don't have much confidence in the Feds picking CEO's of GIANT companies....

I could just see them pick Franklin Raines, Jon Corzine, or Al Franken...for crying out loud.