GM CEO Wagoner to step down at White House request

[rudywoofs (Pam)]

Quote:

By TOM KRISHER and KEN THOMAS, Associated Press Writers

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.

The officials asked not to be identified because details of the restructuring plan have not yet been made public. On Monday, Obama is to announce measures to restructure GM and Chrysler LLC in exchange for additional government loans. The companies have been living on $17.4 billion in government aid and have requested $21.6 billion more.

Wagoner's departure indicates that more management changes may be part of the deal, but it is still unclear who will be put in charge of GM. The automaker recently promoted Fritz Henderson, its former chief financial officer, to become president and chief operating officer. Many in the company thought he would eventually succeed Wagoner.

Detroit-based GM issued a statement Sunday saying only that the company expects a decision by the administration soon but that "it would not be appropriate for us to speculate on the content of any announcement."

A person familiar with Chrysler's management said the company has been given no indication that the government will require any changes at the Auburn Hills, Mich., company, which has been led by former Home Depot chief Robert Nardelli since August 2007. The person also spoke on condition of anonymity because Obama's plan has not been made public.

rest of the story

[Key Guy]

So now the President can hire and fire and manage private enterprise.

Oh man... He must be the Messiah!

[Woody]

Some think that Obama IS the Messiah. I suppose now ... he himself thinks that way. Yes - No ?

[bonnie]

So now the President can hire and fire and manage private enterprise.

Oh man... He must be the Messiah!

It is astounding that christian SDA's in America can embrace,encourage,and accept the road to socialism.

France,Germany,Russia and most major players have said "Don't go down this path" Wonder why, they have.

The power of a president to fire a CEO of a private company is beyond belief.

[Woody]

It seems that the rest of the world has less of an admiration of Obama than we do. Some of the world leaders have called Obama's plan ... "A road leading to Hell". Hardly the Messiah that we've made him.

[bonnie]

It seems that the rest of the world has less of an admiration of Obama than we do. Some of the world leaders have called Obama's plan ... "A road leading to Hell". Hardly the Messiah that we've made him.

His crown may slip a bit when all those that try to stretch the pathetic tax cut they are to get to cover the new energy tax.

Cap and Trade is going hit many of those Obama claims to "want fairness" for.

Conservative estimates for MN families is between 2-3,000.00 annually for a family of four.

That is only a start.

[carolaa]

Where's Lee Iacocca these days?

[Bravus]

What you're missing, bonnie, is that there are people in the world who have criteria for measurement other than the dollar.

[melvin mccarty]

Fired? No. It was absolutely the right thing for government to do. If you want public funding change your management. Only thing that would make sense........mel

[bonnie]

What you're missing, bonnie, is that there are people in the world who have criteria for measurement other than the dollar.

That may be small comfort when it comes to paying for this criteria.

Those that are on limited or fixed income may not be able to pay for such lofty criteria.

If MN gov. has his way we will be one of the states to have a tracking device in our automobiles. You drive you will pay.

My husband always earned a good living,under this he would have been out of business. He would drive up to 150 miles a day. These laws would have put him out of business.

His supplies would have gone sky high. Fuel would have been prohibitive.

Then next year we have the CPSIA law. Most cottage industry that makes items for children will be closed. Thrift shops will close out any children's items. Some of what I sell would have to sell at 1200.00 an item. Many are returning to cloth diapers which I sell a great deal of. A diaper could run as high as 1200.00 for testing. Supposedly to stop lead in children's items. China was the culpert that they used to start pushing this. Funny it won't affect China at all.

Libraries have already dumped thousands of books. No garage sales. Many people will no longer able to clothe their children.

There is no way to pay for what Obama is doing.

[bonnie]

HEY ALL

THE government of the U.S.A. is gaining more power and

the people seems to be losing freedoms

but maybe this is the way for the sunday law to come in

dgrimm60

Many are comfortable with the continued loss of freedoms. Nary a whimper when the president of this country makes private citizens and private companies the target. Pretending the shock and outrage at what they themselves signed on for. Worse when they take the right to fire private citizens in this country.

Wonder if Obama spelled that out in his initial bailout package.

[bonnie]

HEY ALL

THE government of the U.S.A. is gaining more power and

the people seems to be losing freedoms

but maybe this is the way for the sunday law to come in

dgrimm60

Never fear,President Good Wrench is now going to guarantee your cars warranty. How nice of him to make americans financially responsible for other americans upkeep and repair of their car

[Gerr]

So now the President can hire and fire and manage private enterprise.

Oh man... He must be the Messiah!

I heard the Pres say he had no plans for the gov't to run GM. If GM didn't want being told what to do, then they shouldn't be asking for gov't money. The US auto industry wouldn't be in the pickle they're in if they have been making cars as good or better than Jap & German makes. I for one wouldn't be driving a foreign made car if Detroit made one as good as what I'm driving.

[Gerr]

Probably enjoying his multi-million retirement bonus package!!!

[lazarus]

It seems that the rest of the world has less of an admiration of Obama than we do. Some of the world leaders have called Obama's plan ... "A road leading to Hell". Hardly the Messiah that we've made him.

1 leader :Czech president current president of the EU.

[bonnie]

Originally Posted By: KeyGuy

So now the President can hire and fire and manage private enterprise.

Oh man... He must be the Messiah!

I heard the Pres say he had no plans for the gov't to run GM. If GM didn't want being told what to do, then they shouldn't be asking for gov't money. The US auto industry wouldn't be in the pickle they're in if they have been making cars as good or better than Jap & German makes. I for one wouldn't be driving a foreign made car if Detroit made one as good as what I'm driving.

It would be interesting to know if this was an act that was made clear.

I am not sure what you call plans for the government to run. The fact that he can fire someone seems to indicate he does.

He has placed auto Czars in control. Not one has any experience at all.

A measure has passed approval for the right and ability to set wages,not just for the CEO,s but also employees. Retroactive if it passes.

This is not a free market.

[there buster]

Quote:

President Good Wrench is now going to guarantee your cars warranty

A guarantee for which he has no authority whatsoever!

The government may now be a shareholder, but it would take an act of Congress to authorize warranty coverage even in the event of bankruptcy! Could he get it? Maybe. What would it look like after it went through the Democrat sausage machine? Probably not like a warranty you'd want.

[bonnie]

Originally Posted By: Redwood

It seems that the rest of the world has less of an admiration of Obama than we do. Some of the world leaders have called Obama's plan ... "A road leading to Hell". Hardly the Messiah that we've made him.

1 leader :Czech president current president of the EU.

No,that is not exactly true. Putin ,Germany and I believe France.

China said to get our act together I believe

[Key Guy]

What you're missing, bonnie, is that there are people in the world who have criteria for measurement other than the dollar.

We in the US also have another criteria.... Freedom

[bonnie]

Originally Posted By: Bravus

What you're missing, bonnie, is that there are people in the world who have criteria for measurement other than the dollar.

We in the US also have another criteria.... Freedom

I kind of like the lofty ideals some seem to subscribe to. Especially if it seems to give them a sense of superiority. With the way this is headed perhaps they will find a way to survive on ideals alone.

Cap and Trade will harm the poor and middle class,many to the point of not being able to survive.Up to 3,000.00 additional to welfare recipients ,some senior citizens recipients is impossible. Cap and trade and tracking devices in vehicles would put people like my husband out of business. Will they be added to the welfare roles??

Once they get thru with the truckers they will have to really hike their cost.

Once all is in place who is going to be to be paying the taxes that allows "some' to have a different criteria for measurement?

Wonder who is going to pay for universal health care?

The 5% that are targeted for tax hikes is not enough even if you took every penny to begin to pay for what is coming.

Maybe the "lofty ideals" of some will be enough.

Wonder if "lofty ideals" will make up for the lack of charitable donations. That isn't only money,it is anything that was once donated. If CPSIA has it's way,no second hand clothing,shoes,winter coats,all books from a certain date. It was stayed for one year but it is being strongly pushed.

Wonder what the red Cross,Salvation Army and ADRA will do.

Heard something interesting but only caught the last part.It seems Canada's health care,that utopia of health care may have played a part in the death of that actress or entertainer that was involved in the skiing accident. Seems very slow response if I heard right. Lack of the appropriate medical vehicles to respond swiftly. Maybe someone can find it. I thought they said Toronto Globe

A few times when we needed an ambulance we needed it asap. And they were able to.

The next year will be interesting to say the least.

[Amelia]

The five-hour scramble to save Natasha Richardson

[Amelia]

*GP

Please, everyone, respond to the content of a persons post and not to the poster. Even inuendo can be a form of personal attack. And though this is the politics forum where things are expected to get heated, it doesn't need to get rude.

Thanks,

Amelia

[bonnie]

The five-hour scramble to save Natasha Richardson

This is what I was referring to

http://www.theglobeandmail.com/servlet/P...amp;num_rows=10

An emergency situation

Alan Drummond

Print Edition 26/03/09 Page A16

The Globe and Mail, in its coverage of the tragic death of Natasha Richardson, has posed many questions and highlighted potential concerns across the entire spectrum of emergency care available to rural Quebeckers (Four Precious Hours Passed Before Actress Was Sent To Hospital - front, March 20).

[Bravus]

No 'lofty ideals' about it. Our lifestyle is unsustainable. It's going to kill us. It's just a matter of time. Hard science says unless we get our act together and cut greenhouse gas emissions he consequences are going to be catastrophic for generations. When 80% of people on the planet die, whinging that a tax cut doesn't exactly compensate for an approach to doing something to prevent that is going to sound exactly as petty as it is.

[bonnie]

No 'lofty ideals' about it. Our lifestyle is unsustainable. It's going to kill us. It's just a matter of time. Hard science says unless we get our act together and cut greenhouse gas emissions he consequences are going to be catastrophic for generations. When 80% of people on the planet die, whinging that a tax cut doesn't exactly compensate for an approach to doing something to prevent that is going to sound exactly as petty as it is.

Being able to pay your bills and provide for your families may be considered petty by some. For my husband and I,that was never a petty goal. We could not have done so with what is slated to go in to effect the next year or so.

I often feel that way about the whining of those that claim they can't receive medical care and the enviourment .

When those that claim we are all going to die unless we accept their theory as to green house gas. Never been able to find one that has cut their lifestyle. Those pushing this live in some pretty lavish homes that require a great deal of energy to maintain.

Al Gore seems to think this does not mean him. Nancy Pelosi doesn't either. Look up her travel expenses.Wonder why she doesn't take a commercial airline instead of taxpayer money.

A tax cut doesn't cut it. This is not sustainable.

Government is never expected to cut back. Their employment rate is increasing. 600,000 of these supposed jobs created are on the taxpayer dole. We are running out of the vulgar rich to pay our way.

Wonder what they will do for the poor cows who are said to be one of the major green house gas emitters?

I read yesterday where they are going to feed cows fish oil to prevent this.

Have read where many of those scientists that originally signed on to this theory no longer believe any of this to be true.

Be interesting to hear welfare recipients whine if they can no longer purchase reasonably priced goods for their families at thrift,Salvation Army,garage sales etc.

This will be the case as of next year if Nancy Pelosi and Waxman have their way.

Wonder who they will whine to. Already on welfare they cannot go there.

Cap and Trade will hit them hard. Obama would like to see smart meters in homes to regulate your use of energy.

Tracking device on their vehicles to control how far they can drive without paying a penalty.

This may be whining to you Bravus,it boils down to survival for some in raising their families