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Breaking: General Moters CEO to Step Down on Sept 1 (Bailing before IPO flops)
Wall Street Journal ^
| 8/12/10
| WSJ
Posted on 08/12/2010 8:09:29 AM PDT by jimbo123
DEVELOPING STORY
GM CEO Whitacre to step down Sept. 1. Board member Dan Akerson to succeed Whitacre as CEO.
(Excerpt) Read more at online.wsj.com ...
TOPICS: News/Current Events
KEYWORDS: gm; governmentmotors; obamamotors
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To: Upstate NY Guy
IPO?Idiots Propping-up Obamotors
41
posted on
08/12/2010 9:29:43 AM PDT
by
N. Theknow
(Kennedys: Can't skipper a boat, Can't drive, Can't ski, Can't fly. But they KNOW what's best.)
Odd in a way. The IPO is expected to raise about $12 billion but they owe $60 billion to the taxpayers so it won’t liquidate that debt so it will remain “Government Motors.” However, it was not altogether unexpected that he would step down. Not sure exactly what to make of it. Is Obama simply going to “forgive” the remaining $48 billion? That would be the only way that GM would be out from under the control of Obama and his minions. What am I missing here?
42
posted on
08/12/2010 9:52:37 AM PDT
by
RichardW
To: HamiltonJay
The “Old GM” has been folded into the “Motors Liquidation Company”.
motorsliquidation.com
43
posted on
08/12/2010 10:18:48 AM PDT
by
bobcat62
To: Red Badger
yeah
old stock is MTLQQ.PK
To: Paladin2
There was a CEO between Whitacre and Jeep Wagoneer, I believe.
To: N. Theknow
Idiots Propping-up Obamotors Good one!
46
posted on
08/12/2010 10:27:26 AM PDT
by
Upstate NY Guy
(Gen 15:16 The iniquity of the Amorite is not yet complete.)
To: nascarnation
LQQKS LIKE A “BYE”...............
47
posted on
08/12/2010 10:29:20 AM PDT
by
Red Badger
(No, Obama's not the Antichrist. But he does have him in his MY FAVES.............)
To: jimbo123
Breaking: General Motors CEO to Step Down on Sept 1
Does that mean Joe Biden will be president?
48
posted on
08/12/2010 10:31:11 AM PDT
by
McGruff
(How's that Hopey Changey thingy workin for ya?)
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