GM Wagoner steps down

Quote from nxsux:

Just a matter of time before "the administration" starts asking other recipient CEO's to "step down"

I guess the board of directors/shareholders have no powers anymore.

Who's next? Pandit ? Lewis ?

anyone care to throw out a guess?
More...
IDK, but it'll NEVER be this guy:


blankfein_gs.03.jpg
 
Nardelli of Chrysler will be next.

With his vast automotive experience gleaned from running Home Depot into the ground, and then overseeing the plunge of Chrysler quality, where will he go?
 
Quote from Illum:

From zero hedge

Rick Wagoner Quits General Motors
Posted by Tyler Durden at 5:20 PM

Update: According to a White House official, Wagoner was asked to leave by the Obama administration. Scapegoating has begun.
More...

Wagoner a "scapegoat"????
 
Wow - last week or so it was implied that GM would not need any more money. Now this.

JPM started a rally saying they will be profitable for the Q - then Dimon comes out and says March was awful.

Meh - bye bye rally. I SO want to be a bull but this is bullshit.
 
I do not think it is scapegoating as much as the Gubmint in the form of the administration preparing for a Barry bailout.

Bailouts are getting harder for lying, cheating, scumbag politicians to shove down the public's throat.

With that in mind, those elitist boys and girls in Washington could not ask to piss more tax money down the drain if the CEO who was in charge of the corporate crash was still in place.
 
YAHOO NEWS
DETROIT – General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry. …..


http://news.yahoo.com/s/ap/gm_wagoner


NEXT?
:eek:
 
At least he has the honor to fall on his sword, unlike the bums on Wall Street and congress.
What we're seeing here is class warfare, and as in all wars, those that start the wars never die in them. GM is hardly responsible for the economic meltdown, yet GM will pay the highest price while those that are responsible continue unharmed and untouched.
I know you simple minded fools will say GM and Wagoner deserve to go down, which misses the point entirely. Guess what morons...you're next!
 
That's seriously disturbing that the Administration is influencing this move. Sure, he failed at his job, but that it's at the request of the White House is not terribly comforting.

His/GM's fault was not fighting the unions to restructure labor agreements.
 
You must log in or register to reply here.
Back
Top