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03-29-2009, 07:56 PM | #1 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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How's your fascism today?
GM CEO STEPPING DOWN - New York Post
GM CEO STEPPING DOWN QUITS AT WHITE HOUSE'S REQUEST ASSOCIATED PRESS http://www.nypost.com/seven/03292009/photos/wagoner.jpg Rick Wagoner Last updated: 6:16 pm March 29, 2009 Posted: 5:16 pm March 29, 2009 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 plans 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, 56, joined the company in 1977, serving in several capacities in the U.S., Brazil and Europe. He has been chairman and chief executive since May 1, 2003. Obama said Sunday that GM and Chrysler and all those with a stake in their survival need to take more hard steps to help the struggling automakers restructure for the future. In an interview with CBS' "Face the Nation" broadcast Sunday, Obama said the companies must do more to receive additional financial aid from the government. "They're not there yet," he said. A person familiar with Obama's plans said last week they would go deeper than what the Bush administration demanded when it approved the initial loans last year. Wagoner's departure indicates that more management changes may be part of the deal. Wagoner has repeatedly said he felt it was better for the company if he led it through the crisis. Wagoner, in an interview with The Associated Press in December, declined to speculate on suggestions from some members of Congress that GM's leadership team should step down as part of any rescue package. "I'm doing what I do because it adds a lot of value to the company," Wagoner said in a Dec. 4 interview as GM sought federal aid from the Bush administration. "It's not clear to me that experience in this industry should be viewed as a negative but I'm going to do what's right for the company and I'll do it in consultation with the (GM) board (of directors)." |
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03-29-2009, 08:14 PM | #2 |
Braindead
Location: I was just reading, right?
Posts: 15,023
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watch your back, CEO's
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03-29-2009, 08:23 PM | #3 |
Netphoria's George Will
Location: Fenway Park
Posts: 37,109
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What the fuck is going on?
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03-29-2009, 09:06 PM | #4 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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03-30-2009, 12:56 AM | #5 |
OB-GYN Kenobi
Location: the sea
Posts: 17,020
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03-30-2009, 01:01 AM | #6 |
Immortal
Location: I like me so much better when you're naked
Posts: 21,752
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03-30-2009, 01:01 AM | #7 |
Immortal
Location: I like me so much better when you're naked
Posts: 21,752
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isn't it obvious?? Obama was just using us to get him elected so he could become the car CEO he's always dreamed of being
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03-30-2009, 01:09 AM | #8 |
Apocalyptic Poster
Posts: 3,520
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this isn't what fascism is.
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03-30-2009, 01:22 AM | #9 |
OB-GYN Kenobi
Location: the sea
Posts: 17,020
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ryan patrick you just typed 'is' like 9 times
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03-30-2009, 02:24 AM | #10 |
Saturday Night Goth
Location: POLLOS
Posts: 9,207
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03-30-2009, 03:15 AM | #11 |
THIS IS AWESOME!!!!!!!!!!
Location: || MY NAME IS KIIIIIIIIIIIIIIIIIIIIIIIIIIIID ROCK!!
Posts: 47,245
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i know this ground has been sufficiently covered, but for the love of god, i wish they would just let the companies fail
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03-30-2009, 04:10 AM | #12 |
huh
Posts: 62,456
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yeah! let's impeach the fascist socialist bastard! yaarrrr!
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03-30-2009, 04:11 AM | #13 |
huh
Posts: 62,456
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anyway, wagoner is a fucking hack. anything to get him out of his job is probably better for the country in the long run.
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03-30-2009, 11:26 AM | #14 |
Banned
Location: i'm from japan also hollywood
Posts: 57,805
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Remember the first 6 months nimrod started posting here everyone thought he was 12 until it was revealed he was 36
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03-30-2009, 11:39 AM | #15 |
Just Hook it to My Veins!
Location: N3t4Euh Haus
Posts: 32,749
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Fascists don't usually ask, Nimrod.
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03-30-2009, 01:25 PM | #16 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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The first step in fascism is where the government begins to take over and partially own and run and dictate to businesses. Look at your history. I mean, national corporatism is one of the basic economic tenets of fascism....
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03-30-2009, 01:47 PM | #17 |
Brazilian Blouselord
Location: heavy metal pool party
Posts: 35,781
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This came three years too late. You don't keep a CEO around if he sucks. You hire a CEO because that person should make your company most profitable. He only maintained his position as CEO in the first place because he was friends with more idiot board members.
He was bringing down that moronic company. Since he took charge, GM stocks have dropped... 98%. He needed to go but could not be cut off. Still though, I don't think he's at home crying about his millions of dollars in the bank and Harvard business school diploma. I'd imagine it's more like "LOL GG GM!!" than "Those fascists took mah job!" |
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03-30-2009, 01:48 PM | #18 |
Brazilian Blouselord
Location: heavy metal pool party
Posts: 35,781
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I just wish that idiot Bob Lutz would step up. He's priceless. For years he's been another public embarrassment to GM.
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03-30-2009, 01:52 PM | #19 |
Apocalyptic Poster
Location: yeah seriously i think we've more than established a consensus on reality, it's not that abstract.
Posts: 3,454
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03-30-2009, 01:52 PM | #20 |
Brazilian Blouselord
Location: heavy metal pool party
Posts: 35,781
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Furthermore, even Fukui-san is stepping down, who was extremely well regarded for the last couple of years for being such a great businessman and engineer. Sometimes you just have to cycle CEOs to keep up with the times.
Nardelli's just a complete joke, I'd have quit on day one if I were him. Mulally is the only domestic CEO worthy of any respect, because he actually had a direction that required QUALITY. Instead of bitching about costs he focused on profits, unlike GM. |
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03-30-2009, 02:21 PM | #21 | |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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Quote:
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03-30-2009, 02:29 PM | #22 |
Brazilian Blouselord
Location: heavy metal pool party
Posts: 35,781
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If you're going to beg for money from the government, you expect it to just fall into your hands? Isn't that the kind of handout someone like you would hate?
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03-30-2009, 02:30 PM | #23 |
Brazilian Blouselord
Location: heavy metal pool party
Posts: 35,781
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You seem to be forgetting that GM sought the government's help. The government didn't just show up one day and try to push Wagoner out of a job.
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03-30-2009, 02:35 PM | #24 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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03-30-2009, 02:36 PM | #25 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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Yes, the government is using a financial crisis that they helped to cause in order to become shareholders in major US corporations and now are trying to dictate corporate policy, direction, and employment.
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03-30-2009, 02:37 PM | #26 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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BTW Obama's promise to "create jobs" I suppose now stands at -1 jobs.
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03-30-2009, 02:40 PM | #27 | |
Brazilian Blouselord
Location: heavy metal pool party
Posts: 35,781
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Quote:
However GM's begging for money sounds more reasonable when you look at it like this: "We need money because things got super crappy." "I'm sorry to hear that. How can you guarantee I will get this money back?" "Well, we will change from being crappy to good." "How will you do that?" "It will *******, among many things, firing our worthless CEO." If you're going to beg for Barack's money you've got to show you will give it back, I guess. |
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03-30-2009, 03:08 PM | #28 |
The Man of Tomorrow
Posts: 26,965
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03-30-2009, 06:31 PM | #29 |
Ownz
Posts: 645
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Wah, a shitty CEO was asked to step down and accepted the offer after not delivering on promises that he made as a condition of taking previous bailout monies. How sad.
He probably thanked the administration profusely for getting him the fuck out of there, the incompetent jerk. Take up arms Nimrod, the sky is falli...err..our democracy is in mortal danger!! |
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04-09-2009, 11:56 AM | #30 |
Master of Karate and Friendship
Location: in your butt
Posts: 72,975
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moveon.org: easily the voice of moderation. look past the complete fabrications and stretches of truth if you have to.
From: Daniel Mintz, MoveOn.org Political Action <[email protected]> Subject: Fire them Date: Wednesday, April 8, 2009, 4:31 PM The president knows that we can't trust the same folks who got us into this mess to help lead us out. It's time to do the same for the banks. And the best way to start is by firing Bank of America CEO Ken Lewis. He's the worst of the worst. Lewis's poor management helped ruin his company and our economy. Shareholders are calling him "reckless" and citing "disastrous missteps."1 Worse, Lewis accepted $45 billion in taxpayer bailout funds, but instead of using all the money to get the economy going again, he let $3.6 billion go to bonuses for top execs.2 There can't be real reform on Wall Street until the CEOs who brought down the banks we had to bail out are long gone. Can you sign our petition asking Treasury Secretary Geithner replace the leadership at bailed out banks—starting with Ken Lewis? Clicking here adds your name: http://pol.moveon.org/lewis// The petition says: "We can't trust the same people who got us into this financial mess to help lead us out. Replace the leadership at the bailed-out banks, starting with Bank of America CEO Ken Lewis." Lewis is the CEO of the biggest bank in the United States.3 If Secretary Geithner forces him to resign, it'll send a strong message to the rest of Wall St.: The era of zero accountability is over and reckless behavior that puts our economy at risk won't be tolerated. Of all the folks who helped bring about the recession, Lewis is one of the worst:
Our friends at Service Employees International Union (the country's fastest-growing union) have been leading this campaign for a few weeks—and they're building momentum quickly. If hundreds of thousands of us act, together, we'll be impossible to ignore. Please sign today! http://pol.moveon.org/lewis// Thanks for all you do. –Daniel, Patrick S., Eli, Lenore and the rest of the team Sources: 1. "Investment group calls on BofA to fire Ken Lewis," WCNC, March 5, 2009 http://www.moveon.org/r?r= "Union to B of A: Fire Ken Lewis or Risk a Shareholder Revolt," Talking Points Memo, March 5, 2009 http://www.moveon.org/r?r= 2. "Thain tells investigators BofA's Ken Lewis knew of bonuses," CNN Money, February 20, 2009 http://www.moveon.org/r?r= 3. "Bank of America CEO Ken Lewis scores another deal," Fortune, September 15, 2008 http://www.moveon.org/r?r= 4. "Investment group calls on BofA to fire Ken Lewis," WCNC, March 5, 2009 http://www.moveon.org/r?r= 5. "Ken Lewis, What's Really in Your Company's Best Interest?" SEIU Blog, February 12, 2009 http://www.moveon.org/r?r= 6. "Bailout Recipients Hosted Call to Defeat Key Labor Bill," Huffington Post, January 27, 2009 http://www.moveon.org/r?r= Want to support our work? We're entirely funded by our 5 million members—no corporate contributions, no big checks from CEOs. And our tiny staff ensures that small contributions go a long way. Chip in here. PAID FOR BY MOVEON.ORG POLITICAL ACTION, MoveOn.org Political Action: Democracy in Action. Not authorized by any candidate or candidate's committee. This email was sent to Michael McLain on April 8, 2009. To change your email address or update your contact info, click here. To remove yourself from this list, click here. http://open.moveon.org/o.gif?id=15895-7087900-TXE8uYx |
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