Here it comes !

[mookiemookie]

Originally Posted by SteamWake

Federal Goverment now (evidently) has the power to fire private corporation employees.

http://apnews.myway.com/article/20090330/D978B77O0.html

GM is a private corporation?

The administration said that if GM wanted to receive any more bailout money, Wagoner had to go. If they were still General Motors instead of Government Motors, then the White House would have no place to say he needs to go. But that's not the case.

See, that's the thing with going to the biggest guy in the prison for protection. He gets to make you his b*tch.

[SteamWake]

Goverment Motors.. thats a good one :rotfl:

Thats exactly the problem it reminds me of people whom borrow money from the mob.

Im sure Goverment motors will be a highly profitable sucessful orginization, espically with a bunch of lawyers with zero buisness background at the helm.

Oh thats right the adminstration "has no interest in running the company" So uhhh why 'ask' the CEO to step aside?

Looks like Ford will be in the drivers seat now.

[August]

Wagoner was smart to go while the getting was good. No way will GM turn it around in the 60 days Obama has given them.

[SteamWake]

Originally Posted by August

Wagoner was smart to go while the getting was good. No way will GM turn it around in the 60 days Obama has given them.

You know thats a very good point. Almost makes one wonder if there isnt a little collusion going on.

Im sure Wagoner is not going to be 'hurting' after his early retirement.

[SteamWake]

"We have no interest in running these companys."

Ohhh really ?

But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

http://www.washingtonexaminer.com/po...-42158597.html

[UnderseaLcpl]

Originally Posted by SteamWake

"We have no interest in running these companies."

I have no doubt that most of the proponents of this legislation really believe that, too.

[Platapus]

Originally Posted by SteamWake

You know thats a very good point. Almost makes one wonder if there isnt a little collusion going on.

Im sure Wagoner is not going to be 'hurting' after his early retirement.

$20,000,000 retirement plan.

Wish my company offered such a plan.

[SteamWake]

Some more food for thought regarding the UAW.

As to why Gettelfinger was spared when Wagoner was sacrificed -- as Michigan Gov. Jennifer Granholm put it -- Sherk said such a move wouldn't exactly strike the populist chord Obama was looking for.

http://www.foxnews.com/politics/firs...al-motors-ceo/

[SteamWake]

Again "We have no interest in running these company(s)"

Geithner also skirted criticism that the Treasury Department still has no mechanism for tracking how banks have spent billions of dollars in TARP money, saying the doled out dollars were showing immediate results.

Yup like record un-employment.


http://www.cbsnews.com/blogs/2009/04...y4911030.shtml

[Onkel Neal]

Originally Posted by mookiemookie

GM is a private corporation?

The administration said that if GM wanted to receive any more bailout money, Wagoner had to go. If they were still General Motors instead of Government Motors, then the White House would have no place to say he needs to go. But that's not the case.

See, that's the thing with going to the biggest guy in the prison for protection. He gets to make you his b*tch.

Well said, and damn funny.

[Platapus]

Originally Posted by mookiemookie

GM is a private corporation?

Not when you are begging for tax dollars.

It is now a public corporation.

The question is: Should it have been made into a public corporation?

[SteamWake]

Obama to bankers... "My adminstration is the only thing standing between you and the pitchforks!"

http://www.politico.com/news/stories/0409/20871.html

Good lord !