Posted on 03/29/2009 8:19:39 PM PDT by reader25
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.
(Excerpt) Read more at politico.com ...
Nothing to see here people, just the messiah exercising his dictatorial powers.
Next up: Take over of companies that merely displease his holiness.
You raise a good question: Obama apparently can force the CEO to resign. Can he appoint the CEO?
Any loud mouth politician who has never done anything productive or managed any business larger that a lemonade stand - should be okay...
Maxine Waters would be an outstanding candidate...
The crazy bitch pretends she knows everything....
Just like Obama - take away her staff written prepared statements and you can tell she can’t chew gum and scratch her ass at the same time.....
If you wanna get paid, gotta do what the boss tells ya.
It’ll be interesting to see if this stirs any discomfort in people currently slumbering. Probably not, unfortunately. People smart enough to see the problem here were too smart to vote for this knave.
First they came for the bankers, and I was silent because I had not stake in their bank. Next they came for the auto CEOs, and I was silent because I thought they were all greedy fatcats...
“You raise a good question: Obama apparently can force the CEO to resign. Can he appoint the CEO?”
His choice would be that Honest Perfumed Kilpatric guy
Former Detroit May whites leave the room or.
This presidency is a evolving disaster.
“It’ll be interesting to see if this stirs any discomfort in people currently slumbering.”
Not at all.. They will keep on snoring.
Is any of this legal?
Is this Legal what the Clown did?
Apparently the Black Messiah is now the sole shareholder and only board member of General Motors Corporation.
Man I hope that headline is NOT true.
Sorry I did not see your post!
“Obama and his aides may have honed in on Wagoner for two reasons. First, his company is asking for the most in total federal aid: $26 billion, a figure administration officials fear could grow even larger. Second, the GM chief was tied more directly to the ill-fated decisions that that brought much of the American auto industry to the brink of collapse. Wagoner joined GM in 1977, has had a senior role in GM management since 1992, and became CEO of the company in 2000. He is considered responsible for increasing GM’s focus on trucks and SUVs—at the expense of the hybrids and fuel efficient cars that have become more popular in the last couple of years.”
SUV’s are the ONLY REASON GM has lasted as long as it has! Without the outstanding sales of SUV’s for the past decade, GM would have gone bankrupt long ago with all of the union and legacy costs of doing business the ‘marxist way’!
Welcome to the NEW AMERICA folks...where the Obama Thug Administration will go after any business or CEO not in lock step with socialism and marxism! The Obama Administration is going to target any business that is operating in a ‘capitalistic’ way.
PRAY FOR OUR COUNTRY!!
Most of them probably think Wagoner is “getting what he deserves.” I expect a lot of them think they’ll have a free Escalade coming their way.
At least he didn’t demand that Wagoner commit suicide.
Your tagline I have a Filipina Wife and a place in the philippines.
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