GM CEO steps down

#2
#2
#3
#3
The damage done to General Electric at the hands of Jeffery Immelt is far greater than anything Wagoner did at GM. However, since GE owns NBC, and since NBC is so completely in the tank for Obama, it continues to dodge any scrutiny.
 
#4
#4
It will be interesting to see what the US auto industry looks like in 10 years. Especially the performance of GM and Chrysler compared to Ford. Since Ford has taken a different path.
 
#5
#5
Hopefully Chrysler's new partnership with Fiat will work out.

GM needs to learn how to build it's own cars, especially a small economy car. I can tell you right now that the Volt, at nearly 40 grand, is going to be a colossal failure.
 
#6
#6
Hopefully Chrysler's new partnership with Fiat will work out.

GM needs to learn how to build it's own cars, especially a small economy car. I can tell you right now that the Volt, at nearly 40 grand, is going to be a colossal failure.

Not so fast. Just wait till you see the government orders pour in for them.
 
#7
#7
I knew it was just a matter of time for Wagoner, that's what happens when you play with the devil. Psst..Nardelli, You might want to see about going back to HD. Now I wonder what Phil Lebeau is going to do with his buddy Wagoner not there...
 
#8
#8
It will be interesting to see what the US auto industry looks like in 10 years. Especially the performance of GM and Chrysler compared to Ford. Since Ford has taken a different path.

This isn't the first time Chrysler has been bailed out.
 
#9
#9
I was raised on Chevy and GMC's, but my dad bought a brand new GMC Sierra in 2006. The transmission went out last year, and he had to get it replaced. It was covered by the warranty, but still.

Needless to say, I just bought a car the yesterday, and it was a Honda. I had a Pontiac before that, and it was pretty good, though.
 
#11
#11
I could save Chrylser and GM tomorrow. Get rid of the unions, offer them half what they are making now, and replace the ones who refuse the paycut. Unemployment in Detroit is as high as anywhere in the country. It's a shame this doesn't happen.
 
#12
#12
I could save Chrylser and GM tomorrow. Get rid of the unions, offer them half what they are making now, and replace the ones who refuse the paycut. Unemployment in Detroit is as high as anywhere in the country. It's a shame this doesn't happen.

bingo. Overpaid employees for second tier quality just doesn't cut it anymore.
 
#14
#14
#15
#15
now let's see if the administration has the guts to take on the unions.....my guess......NOT
 
#17
#17
Anyone else find it troubling that the POTUS is removing CEOs from private companies? I realize they'll be getting US funding but this seems like outright government takeover.
 
#18
#18
wagoner has been there long enough. it's amazing he hasn't been fired before now.


I can believe your criticism may be valid. But is that the job of the POTUS? He going to fire the thousands of loafers within that company next? He going to cut their wages in half, as much as I'd like to see the union get some of that....it is not his job.
 
#19
#19
Anyone else find it troubling that the POTUS is removing CEOs from private companies? I realize they'll be getting US funding but this seems like outright government takeover.

This problem will only grow. BHO feels the government is the answer to everything.
 
#20
#20
I can believe your criticism may be valid. But is that the job of the POTUS? He going to fire the thousands of loafers within that company next? He going to cut their wages in half, as much as I'd like to see the union get some of that....it is not his job.

well if they are going to give gm billions, the gov't should have some say. the real question is does the obama administration really know what changes need to happen to make gm viable. just making fuel efficient cars isn't going to be enough.
 
#21
#21
well if they are going to give gm billions, the gov't should have some say. the real question is does the obama administration really know what changes need to happen to make gm viable. just making fuel efficient cars isn't going to be enough.

This is a real slippery slope to me. I'm troubled by how easily the government appears to want a management role in private companies. This is different than even having a board seat as an investor. It's different than a VC that buys in based on a business plan and exerts some control.

I have no faith in civil servants' management abilities.
 
#22
#22
Anyone else find it troubling that the POTUS is removing CEOs from private companies? I realize they'll be getting US funding but this seems like outright government takeover.

it's troubling to me that a man who has never run a business in his life is trying to tell people how to run theirs.
 
#23
#23
well if they are going to give gm billions, the gov't should have some say. the real question is does the obama administration really know what changes need to happen to make gm viable. just making fuel efficient cars isn't going to be enough.


"some say"...that is some vague and dangerous language. I would suggest they get some more clearly stated rules in place before loaning peolpe money.
 
#24
#24
I've got no love for Waggoner but actions of the administration and Congress of late have created open season on white collar jobs - particularly executive level jobs. These people are the ones views as the problem and as expendable/replaceable.
 
#25
#25
The govt, as the largest investor would be on the board of any of these companies if they were a private company and have every right to demand a CEO step down. This happens all the time in the private sector.
 

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