Breaking news says, according to a "confidential source", GM CEO Rick Wagoner is stepping down from his position. I don't know about you guys, but this worries me. The Gov't is demanding much more "drastic" reform and restructuring from GM and Chrysler since theyve received the federal aid, and if they wish to receive any more. I have two theories on the matter...either Rick Wagoner just wants to retire and let someone younger step in at this point to do all the restructuring, or....Rick Wagoner knows something we don't yet know, something I'd assume is good. Im hoping my first theory is right, but I guess will have to wait and see. Funny thing it, just the other day their GM's stock went up about 14%. What do you guys think?

 

i think, like many others, gm's management has been inept for the last 25 years.

that said, i did like many of the steps the company was taking now. the cars are the best they've ever been. but, i fear the downward slide will continue.

part of me is hopeful that they could get a real car guy in, someone who could drive the company in a more enthusiast biased direction. but i don't think that will happen. it can't. unfortunately, the majority of america seems to prefer the bland disconnectedness of whatever toyota foists out there. i see a govt controlled gm trying to follow that market.

 

So according to the news this morning it was the White House who actually ordered Rick Wagoner out....The thing I love is, the government basically fires him, meanwhile the ******* executives of the big banking companies like AIG still have their jobs PLUS theyre getting BONUSES!

 

yes the gov't forced him to step down they said it was the only way they'd give them more money

 

this is all over the news. they asked him to step down, so he did.

and the other day, tons of stocks went up like crazy. gm stock is still crazy down from last year and 2 years ago though.

 

Yeah but atleast the government said it would stand by all the 3 automakers warranties so there is no reason to think it is not ok to buy an american car. I agree about the banks but what are we gonna do i work in the auto industry and i just hope this **** gets fixed

 

well, they gave them 60 days to get their **** together and come up with new plans. so we'll see what happesn.

 

well im sure most of the pple here understand how the public views the american automakers, i just really hope the gov't doesnt turn gm into some eco only company or just limiting the company on mass production only, im sure they wont but we still dont know about the future of performance cars.

 

1 down 2 to go...

 

I wish our politicians were held to the same standard. Then they'd all have to resign.

 

HOLY WRONG SECTION BaTMAN!!!

 

i read this 30 minutes ago. obama administration asked him to resign, and he still gets his 23 million pension plan

 

I think the govt wants to force GM into bankruptcy which would put them out of business completely since people wont buy a car from a bankrupt company. Chrysler is run worse yet nobody was forced out there. Wagoner was the face of the Big 3 even if he didn't want to be and Obama probably figured the best way to wreck the industry would be to take out the top guy. I also bet that Obama will put someone in charge who knows nothing about the auto industry or running a global company.

 

Osama Obama is for the government owning, or at least running, all business. He makes sure the banks have plenty of money, and then ties their hands behind their backs, so they can continue to operate to make sure he has the supply money to completely take over. The rich bankers get richer and the working man that puts cars together gets a soup line. Now he's threatening, with everything happening in Mexico, to start taking our arms. Little by little he's leading the US to socialism. Not in our life time but in your grandkids. I've never been much on conspiracy theorys but I'm worried for our future generations. I'm 65 so I won't suffer too much. But those coming in behind me are in trouble. I bet this gets me thrown out of the forum.

 

all ignorant uneducated bitching...

 

No political threads.