Sunday, March 29, 2009

NRA writ large..Obama demands and gets GM CEO resignation...and UAW?

The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.

The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason.


On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler.

Industry sources had said the White House planned very tough medicine, which turned out to be an understatement. And it went to the very top. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, retirees and the communities where plants are located, the sources said.

GM and Chrysler have to prove their viability as a condition of a federal bailout released under former President George W. Bush, and both have asked the current administration for more money.

Obama said Friday in an interview with CBS's "Face the Nation," broadcast Sunday, that the carmakers were going to have to do more.

"There's been some serious efforts to deal with a combination of long-standing problems in the auto industry," the president told host Bob Schieffer. "What we're trying to let them know is that we want to have a successful auto industry, U.S. auto industry. We think we can have a successful U.S. auto industry. But it's got to be one that's realistically designed to weather this storm and to emerge at the other end much more lean, mean and competitive than it currently is.

"And that's gonna mean a set of sacrifices from all parties involved -- management, labor, shareholders, creditors, suppliers, dealers. Everybody's gonna have to come to the table and say it's important for us to take serious restructuring steps now in order to preserve a brighter future down the road.
So tell me, if I am writing the software which in real time records data, adjust engine performance, parameters and reporting, including monitoring all sensors for problems...put all this on a chip and supply this chip to GM, I have to 'sacrifice' because.......????

The government has the moral meed to get rid of these morons (and they are), but the execs at GM are not the only morons in this farce (can you spell UAW), since it's US taxpayer money which we hope will save their literally stupid asses..

The NRA, btw was declared unconstitutional, which resulted in FDR's effort to up the number of supremes to 13 so he could have a guaranteed majority.

BTW - IMHO the entire BOARD of GM should resign, the UAW chief, HIS board, and all CFO's. GONE. MORONS.

1 comment:

Real Estate in Toronto said...

Nicely said, it was the poor marketing of the companies that led them where they are now. It would happen even if the crisis wasn't here. But because of the crisis they actually have a reason to ask for money. And government sure obeys and tries to help and help and help. I ask myself why? Is stuffing more money into GM going to make them smarter? Nope, they will always make bad and pointless choices that lead to bankruptcy.

Take care, Julie