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GM news...Wagoner outed
- Thread starter phragle
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Wrinkleface
Founding Member
MacGyver
Charter Member
Wait.....am in the United States yet???? The government asking a CEO to step down...WTF???
Wrinkleface
Founding Member
which 1????????????:lurk5:
MattBMiller
New member
Wow....work is going to be interesting tomorrow
catmando
Infamous
Politico is reporting that the Obama administration asked GM CEO Rick Wagoner to step down:
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.
And the Wall Street Journal reports the same:
An administration official confirmed that Mr. Wagoner was asked to step down by the administration as a precondition for ongoing restructuring within the company.
**************************************
General Motors CEO Rick Wagoner will step down from the company, according to several reports.
The timing is curious, considering that President Obama is expected to announce on Monday the next steps to help GM and Chrysler, which have received $17.4 billion in emergency funding from the U.S. Treasury and are asking for more help: G.M. has asked for up to $16.6 billion more, and Chrysler another $5 billion. On Friday, Wagoner was in Washington, DC to meet with the White House auto task force, led by former investment banker Steve Rattner.
Wagoner and GM have been criticized for not doing enough to slash debt and cut costs as part of the giant automaker's agreement with the government.
CNBC first reported that Wagoner would step down, adding that GM did not confirm or deny the report.
The New York Times reports:
The unexpected move by Mr. Wagoner, who has been at the helm of G.M. for eight years, was not confirmed by the company. But a statement about Mr. Wagoner's future will be issued after the president's address...
There was no indication yet who would take over the top job at General Motors. As recently as March 18, Mr. Wagoner said in an interview that he had no indication that his job was in jeopardy because of the task force.
http://www.huffingtonpost.com/2009/03/29/cnbc-gm-ceo-rick-wagoner_n_180516.html
catmando
Infamous
You work for GM? Interesting that GM has more models getting over 30mpg than any other carmaker.
03darkshadow
New member
Magic Medicine
New member
WOW, Obama is scary.
Wrinkleface
Founding Member
All BS aside, this is scarry!!!!:boxing_smiley:
Magic Medicine
New member
thats what I said:boxing_smiley:
Just wait untill the healthcare plan is forced down our throats and you're doing fillings for $12/hour!!!!!!
:26::sifone::biggrinjester:
fund razor
Founding Member
His salary was increased from about 1.3 million in 2005 to 2.2 million in 2008 after he saved the company 9 billion, negotiated a money saving deal with the UAW, and oversaw a product line revival. Still wasn't enough to turn the company around, obviously. He has been there a while. Not sure if he needed to continue.
Wrinkleface
Founding Member
Just wait untill the healthcare plan is forced down our throats and you're doing fillings for $12/hour!!!!!!
:banghead:
Wrinkleface
Founding Member
I bet he doesn't know any 231 #'s!!!:bigear:
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