General Motors CEO - Rick Wagoner Resigns..
 

Just heard that Rick Wagoner resigned....not sure if this was posted already.

:zowned:

He was asked by the Whitehouse to resign and he did. I guess the president knows more about running GM than the Board does

the white house knows everything. the problem is that we just arent intellignet enought to understand their decisions.

Sorry, but the government fucks up most things they touch. God help GM.

is this the change everyone wanted?

Wagoner has been in charge for 9 years.
GM's performance over the past 9 years has not been great and the decisions made over that period have resulted in what we see today.
9 years is enough time to make an impact and Wagoner's leadership have led GM to what it is today.

If it were a bank GM was approaching for cash vs the federal Government...
I would think the Bank would ask for "regime change" as well before loaning a coulpe of billion dollars.

Considering the size of the bailout, I think the government has the right to get some influence..........Think of it almost like buying themselves 2-3 seats on the board.

Or would you guys prefer that they go bankrupt without any bailouts?

with bankruptcy they could renegotiate the contracts right?

The Golden Parachute built into this jackasses contract must have been UNREAL!!!!! :panic:

"So..... you want me to step down Mr President???? You say its for the betterment of the company?? Heh heh, pay up suckers!"