The only thing he did was accept money from the government, but that doesn’t excuse him for being in the situation in the first place :roflpicard:
basically, theres your reasoning right there!
Wagoner made some bad decisions at GM for a number of years. Him and his army of bean counters forced them to cut corners on little items that would save them $5 and turn off the customer, costing them a $30000 car sale and their reputation. Now that they’re finally worried about putting out a quality product and realized that cutting the corners does show, their product is improving despite him, not because of him. If they’re gonna have the government stepping in on the business end they really need a car guy CEO.
this government is a fucking embarassment. Obama can go fuck himself.
:bigclap:
Yea, the government telling CEO’s to walk. That will cause a rally the stock market!
Monday will be an interesting day. Obama is really good at fucking up the market, and with it the peoples confidence in the country. Every time he opens his man pleaser, the markets fall.
A Silver Chevrolet Aveo in every garage!
Soy nuggets in every microwave!
I am just afraid that decisions will be made by people that are not car people and have little experience with the industry.
sounds like a good idea to me, if the CEO can be asked to stepdown/ fired, that just shows you that everyone below him can have the same happen to them.
This gov’t was an embarrassment long before Obama became President.
I wish everyone that is saying that this a good thing or a bad thing would just STFU and wait to see what the outcome is really going to be.
agreed. they’ve done so much good for this country on their own:
Exactly. Because the Fed and treasury have done such an admirable job with the banks/financial (and housing)markets. They can’t even run the Government right but now the Fed is in the auto industry. Grrrrrrrrrreeeaaattt! So what happens now when they fuck it up? We can here how they inherited such a shitty company and it wasn’t the Govt’s fault it failed. :bloated:
Can you two fill in the blanks here because I haven’t read anything yet on who is replacing him but has Obama picked some political stooge to replace him already?
Is Wagoner the only guy on the planet that can run GM?
You guys have gone way too far in your pessimism on this one. Its not like the gov’t just took over operations of GM. You are not going to have Obama appointed officials making the decisions in Detroit.
Wall Street might take this as good news. Out with the old guard. Lets see what happens. Several board memebers tried this and so did Kirk K. and yet Wagner still stands. Good luck
Akuma
He took the company from $90+ a share to below $2 at one point.
Granted I am not blaming him for the downward turn, but in the interest of public image I like the move.
Public image would have been better served by yanking the money back and forcing them into Chapter 11 (or in Chrysler’s case, Chapter 7). Only then can Obama really justify to the people the billions it will take to turn these companies around.
Rumor has it that Fritz Henderson (current COO) is next in line. Wonder if the Government will make him work for $1 too. I hear most of the Board is going, too.
And who knows who Obama’s team will pick as next if Henderson goes, too. I mean, there are not alot of CEO’s that are good, know the industry, and are “popularly acceptable” out there.
And FWIW - Obama’s team has given Chrysler 30 days, and GM 60 to get their acts together.
Makes me wonder if Chapter 11 isn’t in the cards after all.
Then again, maybe this will start the defections of all senior management at GM - if the boss’ head goes for political expediency, what’s to save the rest of upper management.
Seems about right to me. :gotme:
Yea cause were not entitled to our opinion. Like you were real quiet about old W’s position on everything, and waited months before commenting.
The Asian markets are down about 2.5% as of right now. I’m sure the USDMs will follow Monday.
… Like Geithner’s comments on China’s idea to look for a world currency to replace the dollar as the currency of global trade. Great idea. :picard: