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GM Chief Rich Wagoner asked to step down by White House - 3/29/2009 5:10:17 PM   
outlier


Posts: 1111
Joined: 10/22/2005
Status: offline 		Here is the story:

Bloomberg News

Should be interesting to see the consequences.

Outlier

< Message edited by outlier -- 3/29/2009 5:14:22 PM >

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 5:20:48 PM   
rulemylife


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Mixed feelings.

I really don't like to see government being involved in the private sector to the degree they can ask a manager to step down, but GM did ask the government for support.

< Message edited by rulemylife -- 3/29/2009 5:22:22 PM >

(in reply to outlier)
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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 5:32:20 PM   
CruelNUnsual


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quote:

ORIGINAL: rulemylife



Mixed feelings.

I really don't like to see government being involved in the private sector to the degree they can ask a manager to step down, but GM did ask the government for support.


Pretty easy to see what will happen. Companies wont take bailout money, like states are turning down Federal money for unemployment. Which means that all that will be left of the "stimulus package" is spending.

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 5:48:53 PM   
DarkSteven


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quote:

ORIGINAL: CruelNUnsual

Pretty easy to see what will happen. Companies wont take bailout money...


The fascinating sequence is if a company decides to forgo bailout money because of the strings placed upon it, and then the shareholders sue because the company is acting in the interests of the management and not the shareholders in rejecting the money.


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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 5:57:05 PM   
BKSir


Posts: 4037
Joined: 4/8/2008
From: Salt Lake City, UT
Status: offline 		"Wagoner has run GM since June 2000, presiding over $82 billion in losses beginning since the end of 2004, the last profitable year."

And the reason they didn't can his sorry ass before this is? O.o 


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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 6:04:31 PM   
aravain


Posts: 1211
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Status: offline 		I gotta agree with BKSir.

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 6:23:12 PM   
Lucylastic


Posts: 40310
Status: offline 		Its only 82 Billion BK, snot enough to get his ass canned

oh and Cruel, seems repubs are taking the fed money after all...reality  hits.
http://politicalticker.blogs.cnn.com/2009/03/28/on-second-thought-states-take-stimulus/
"Several governors who initially voiced concerns about expanding state unemployment benefits to qualify for federal stimulus funds have decided to accept the money. Some were feeling the heat from jobless constituents, while others took comfort in learning recently from the federal Department of Labor that they could curtail eligibility later on."

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 6:42:03 PM   
TheHeretic


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From: California, USA
Status: offline 		      I wonder how big his golden parachute is.  We may also find out a bit about President Obama's learning curve in whether or not that question was asked before this news got out.

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 7:00:08 PM   
outlier


Posts: 1111
Joined: 10/22/2005
Status: offline 		Let me throw out a cynical thought for speculation.

The public is tired of big businesses getting money and
nobody having to give up their high paying jobs. The
White House knows it needs a christian to throw to the
lions to keep the masses appeased.

So I checked with the website that Merc turned us on to
before the election that ranks money and elections.
Openscrets.org.

Automotive is 34th on the list of contributors. 35% Democratic 65% Republican
Securities/Invest is 3rd on the list of contributors 65% Democratic 35% Republican

I am sure this has nothing to do with why all those bankers are still employed and
getting bonuses but the car guy is asked to step down. After all this is not the old
politics, this is change.


We need a tongue in cheek smiley!

Outlier

< Message edited by outlier -- 3/29/2009 7:50:38 PM >

_____________________________

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Worth the time, the thought - or rather, the thoughtfulness - and, often,
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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 8:08:26 PM   
Vendaval


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Status: offline 		Yes, we do. 

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 8:12:22 PM   
Owner59


Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline 		So you imagine there`s a quid pro quo?lol That`s rich...

With that logic,why is it that only republicans are whining(to this day) about the bonus give-back?

The huge amount of wind and energy cons are spending crying over those poor poor AIG execs., would make one think the that GOP were employees of AIG.

Yeah,let`s start finding distinctions among thieves,lol, by who they`ve contributed money to.That helps....lol

All those rich fucks are going to do just fine.No need to lose sleep over them.

Funny how cons are all upset when rich fucks have to give back bonuses or resign.And in the same breath, want unions to give back, take a pay cut or be out-lawed.

Just who are the GOP representing?It`s not the little guy and slowly but surely,the working class sees this and is voting that way.

The dichotomy isn`t between crooked bankers and idiot CEOs.It`s between the working stiff and rich fucks like Wagoner.

< Message edited by Owner59 -- 3/29/2009 8:37:53 PM >

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 8:55:05 PM   
samboct


Posts: 1817
Joined: 1/17/2007
Status: offline 		Well, can we get Madonna in to replace him?  Think about it for a sec-

Rick Wagoner is a quintessential car guy.  He's actually probably one of the better execs GM has had- they just have major structural problems that have dogged the company for decades that have caught up with them. Some of them have been the fault of management, but a lot have to do with being unable to deal with costs outside their control.  The upward spiral in health care- even if it could have been foreseen (and most people didn't see it), really didn't leave them lots of options. So if the car guy can't solve the problem, maybe the Material Girl can.

Let's look at Madonna's qualifications.  She's managed to turn what can charitably be described as a "limited" vocal talent, an even more limited talent as an actress, and while reasonably attractive, there are plenty of women on this board that are more so.  She's not innovative either- the sexual outrageousness in public is just taking what others have done a bit further.  (I'm a Blondie fan- does it show?)  Nope- what she's absolutely brilliant at is cashing in on other peoples innovative ideas and taking them to the bank.  She's a stunning success in business.  She reinvents herself to keep her brand fresh and in the public eye (OK, fading slightly, but she's had a long run.) and has been quite open about her capitalism.

But this is exactly what GM needs!  They've cut their research, so they're going to have look outside the company for new products and technology, and their old business model is shot.  They need someone who can reinvent the company- and the best capitalist reinventer is Madonna.  So I think Rick should step down and I nominate Madonna as his successor.


Sam

(in reply to Owner59)
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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/29/2009 10:05:22 PM   
outlier


Posts: 1111
Joined: 10/22/2005
Status: offline 		Ok, simple things first.

Thank you Vendaval for seconding my suggestion for a tongue in cheek smiley.

Thank you Sambot for another demonstration of why it is needed.

Owner59,

Thank you for making logic the grounds for analysis. Pity you didn't use any.

My cynical speculation, clearly labeled as such, was that there might
be a connection between money and the actions of politicians. Apparently
to you that is an unheard of concept, but it was a speculation.

I will not burden you with a formal logical analysis, I will keep it simple.

Your, logical response to this was to point in a completely different
direction and say "What about those guys?" Logically you totally
failed to address the issue.

In case you do wish to logically address the issue let me give you
a homework assignment first so you will be better prepared. Google
this quote: "Money is the mother's milk of politics."

You will find it credited to both Tip O'Neill (D) and Phil Gramm (R). Also
Big Daddy Jesse Unruh of California (D). All of whom agreed that money
does influence politics. It is a shame you could not have explained to
them how wrong they were/are.

Need that smiley again.




< Message edited by outlier -- 3/29/2009 10:12:33 PM >

_____________________________

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"A happy sex life may take years to achieve, but it’s worth it in the long run.
Worth the time, the thought - or rather, the thoughtfulness - and, often,
the waiting." Pete Seeger

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 5:14:54 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Not to worry.   The stimulus package extends unemployment

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 5:17:53 AM   
DesFIP


Posts: 25191
Joined: 11/25/2007
From: Apple County NY
Status: offline 		The bailout money is certainly higher than the 5% value of stock needed to give a seat on the board, and as such, the board has the right and responsibility to suggest it is time to change the management.

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 8:00:19 AM   
pahunkboy


Posts: 33061
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quote:

ORIGINAL: DesFIP

The bailout money is certainly higher than the 5% value of stock needed to give a seat on the board, and as such, the board has the right and responsibility to suggest it is time to change the management.


I agree.    Corporate raiders dismantle corporations, shuffle the assets around.   I would have refused any bail out. But the problem is more then just smith.   In effect- these guys are now on the welfare rolls.  The pay scale should math the pay grades the others --



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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 8:05:07 AM   
CruelNUnsual


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quote:

ORIGINAL: Owner59


why is it that only republicans are whining(to this day) about the bonus give-back?



Maybe because Republicans recognize those pesky little things called contracts and laws? A law where a Democrat demanded the insertion of the bonuses at the behest of a Democrat President?

The Democrats can't say a word other than responding to public outcry by trying to tax back what they specifically granted. Fucking hypocrites. change indeed.

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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 8:53:44 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
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quote:

ORIGINAL: CruelNUnsual

quote:

ORIGINAL: Owner59


why is it that only republicans are whining(to this day) about the bonus give-back?



Maybe because Republicans recognize those pesky little things called contracts and laws? A law where a Democrat demanded the insertion of the bonuses at the behest of a Democrat President?

The Democrats can't say a word other than responding to public outcry by trying to tax back what they specifically granted. Fucking hypocrites. change indeed.


It's because they're evil.

Evil I tell you, the spawn of Satan those Democrats.

(in reply to CruelNUnsual)
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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 9:59:18 AM   
CruelNUnsual


Posts: 624
Joined: 9/28/2008
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quote:

ORIGINAL: rulemylife

quote:

ORIGINAL: CruelNUnsual

quote:

ORIGINAL: Owner59


why is it that only republicans are whining(to this day) about the bonus give-back?





Maybe because Republicans recognize those pesky little things called contracts and laws? A law where a Democrat demanded the insertion of the bonuses at the behest of a Democrat President?

The Democrats can't say a word other than responding to public outcry by trying to tax back what they specifically granted. Fucking hypocrites. change indeed.


It's because they're evil.

Evil I tell you, the spawn of Satan those Democrats.



If you believe in evil go for it. Its actually far more mundane than that...lust for power combined with lazy thinking.

(in reply to rulemylife)
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RE: GM Chief Rich Wagoner asked to step down by White H... - 3/30/2009 12:23:58 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		"May you live in interesting times."

_____________________________

"Beware, the woods at night, beware the lunar light.
So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
"WOLF MOON", OCTOBER RUST, TYPE O NEGATIVE


http://KinkMeet.co.uk

(in reply to outlier)
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