Well, not really “fire”, but that’s how the MEDIA kinda reported it, and that’s the keyword used when people talk about the General Motors CEO Rick Wagoner to step down.
For the record, let’s do a quick recap of who Wagoner is: Rick is the guy who stood in line for the handouts, was the man on top when GM crumbled, authorized layoffs, and collected bonuses. In short, here is a man who is the poster child of everything that is wrong with the system.
Before Earth-O, a company that failed as much as GM would simply file for bankruptcy. But…things are different now. We live in the Bailout Universe, and are headed towards a Depression.
Here is Rick’s final statement: “On Friday I was in Washington for a meeting with administration officials. In the course of that meeting, they requested that I “step aside” as CEO of GM, and so I have.”
President Obama’s statement- as I said when I reviewed Obama’s autobiography, it’s kinda hard to actually interpret what he means because he says both sides of an angle- so, he says everything…yet nothing, just like that sentence.
Anyway, here are some quotes:
One of the challenges we’ve confronted from the beginning of this administration is what to do with the state of the struggling auto industry. In recent months, my Auto Task Force has been reviewing requests by General Motors and Chrysler for additional government assistance, as well as plans developed by each of these companies to restructure, to modernize, and to make themselves more competitive…
…Over the past year, our auto industry has shed over 400,000 jobs, not only at plants that produce cars, but at the businesses that produce the parts that go into them and the dealers that sell and repair them…
…Year after year, decade after decade, we’ve seen problems papered over and tough choices kicked down the road, even as foreign competitors outpaced us. Well, we’ve reached the end of that road…
…We cannot, and must not, and we will not let our auto industry simply vanish. This industry is like no other — it’s an emblem of the American spirit; a once and future symbol of America’s success…
…These companies — and this industry — must ultimately stand on their own, not as wards of the state…
…And that’s why the federal government provided General Motors and Chrysler with emergency loans to prevent their sudden collapse at the end of last year — only on the condition that they would develop plans to restructure. In keeping with that agreement, each company has submitted a plan to restructure. But after careful analysis, we’ve determined that neither goes far enough to warrant the substantial new investments that these companies are requesting…
…And so today I’m announcing that my administration will offer GM and Chrysler a limited additional period of time to work with creditors, unions, and other stakeholders to fundamentally restructure in a way that would justify an investment of additional taxpayer dollars. During this period they must produce plans that would give the American people confidence in their long-term prospects for success…
…no one can deny that our auto industry has made meaningful progress in recent years — and this doesn’t get talked about often enough. Some of the cars made by American workers right now are outperforming the best cars made abroad. In 2008, the North American Car of the Year was a GM. This year, Buick tied for first place as the most reliable car in the world. Our companies are investing in breakthrough technologies that hold the promise of new vehicles that will help America end its addiction to foreign oil…
..GM has made a good faith effort to restructure over the past several months — but the plan that they’ve put forward is, in its current form, not strong enough. However, after broad consultation with a range of industry experts and financial advisors, I’m absolutely confident that GM can rise again, providing that it undergoes a fundamental restructuring. As an initial step, GM is announcing today that Rick Wagoner is stepping aside as Chairman and CEO. This is not meant as a condemnation of Mr. Wagoner, who’s devoted his life to this company and has had a distinguished career; rather, it’s a recognition that will take new vision and new direction to create the GM of the future.
Here is Michael Moore’s reaction:
This bold move has sent the heads of corporate America spinning and spewing pea soup. Obama has issued this edict: The government of, by, and for the people is in charge here, not big business. John McCain got it. On the floor of the Senate he asked, “What does this signal send to other corporations and financial institutions about whether the federal government will fire them as well?” Senator Bob Corker said it “should send a chill through all Americans who believe in free enterprise.” The stock market plunged as the masters of the universe asked themselves, “Am I next?” And they whispered to each other, “What are we going to do about this Obama?”
Not much, fellows. He has the massive will of the American people behind him — and he has been granted permission by us to do what he sees fit. If you liked this week’s all-net 3-pointer, stay tuned.
And now here are some Message Board reactions:
for someone who constantly states that they “have no intentions of running GM” it sure sounds to me like that is exactly what they are planning on doing.
if things keep going the way they are we won’t have to worry about attacks from out side America. we will have another civil war and the rest of the world will sit back and laugh, or worse yet jump in and take us apart.
what will our world be like when China bails us out and is replacing our executives with ones that are favorable to them (as with Wagoner).
I strongly believe that goverment has no right to get involved in big business to such an extent as to take the power to fire a CEO. We need to stop the power grab of this administration. America’s very freedoms and it’s Soul is at stake. God gave each individual different talents. What makes this adminstration think that they have the talents to do everything better than any other American?
We find this move by the president very frightening! It’s one more step (following many recent steps)closer to socialism. Can something be done to stop this movement?
Where are the lawyers on Constitutional law when you need one! This administration has clearly demonstrated they operate outside the framework of our Constitution. What law gives the president the ability to force the leader of a company out of his job? Our private industries are now being policed and at the fate and opinion of this most intrusive administration.
How can the President fire a CEO from a company? How can all these policy changes from the President and his cronies go into law without the ok from the people of this country. Everything is very very frightening
America, you wanted change and you are getting it. America is a socialist county now. Is this what our founders fought for with their lives, fortunes and honor? Is this what the American patriots, ordinary people, endured the unimaginable hardship during the Revolutionary War and subsequent conflicts to uphold the freedom of individuals? We have let them all down.
So the President fires a CEO then hires a new one? Then the President tells car owners that the Government will guarantee the warranties on their new cars? President Obama has overstepped his bounds by a long shot! Where in the Constitution does it say that the President has the power to hire and fire in the private sector? Where does it say that the Government is allowed to run a business?
It has happened, folks! Welcome to the United Socialist States of America!
Where have we come to in this nation when ANY politician is able to tell ANY private individual they must leave their job? Not only did the president tell him he was effectively fired, he also refused GM to give him a severance package. Poor little liberals are laughing right now, because CEO’s have been scapegoated just as the Jews were in the 1930’s in Germany. Right now they are only sending the CEO’s off to the concentration camps, but who is next. We can be sure that this will not stop with CEO’s, but will trickle down to effect all of us. Many of the other countries in Europe were unconcerned with what was going on in Germany, but they soon found Hitler knocking at their doors requiring their papers as well!
Bailing out any business that has shown this much irresponsibility is just being topped by more irresponsibility on the part of our government. It looks like a systimatic takeover of everything we stand for is now well on its way.
The actions of the first two months of this administration are appalling and frightening. Their interference in the employee and compensation structure of non-government entities is socialistic. Our America is under attack from the very top. Their goal seems to be total control. Like-minded Americans must unite to stop this. We must contact our representatives, stay informed and make our voices heard.
This is America! How is it the president can fire ANYONE FROM A PRIVATE BUSINESS?! How is it he can steal from taxpayers FOR what he CLAIMS to keep BUSINESSES (OBAMA PREFERS) GOING? GOVERNMENT HAS NO RIGHT! THIEVERY IS AGAINST THE LAW IN CIVIL SOCIETY. AFTER THE PRESIDENT’S THIEVERY OF THE TAXPAYERS SAYS HIS PREFERENTIAL AID COULD BANKRUPT ANYWAY? When the PEOPLE have told him all along the way, LET THEM GO BANKRUPT? He is non-productive, WASTE! DANGEROUS AND UGLY!!!
I am outraged that this administration has the audacity to remove a corporate CEO. That is the sole right and responsibility of the share holders and/or the board of directors. Where are we headed? I am truly frightened that America will lose its capitalistic foundation. Are we headed toward socialism?
Should we be looking at the History of Germany?
We are being moved to Socialism by making people believe that these things the President is doing are legal!!! Where are the Constitutional Lawyers? Help Us stop the Insanity of this Administration!
Rick Wagoner is not a talented CEO. For all of the complaning about Bailouts and the problems they produce, Rick Wagoner was there with his hand out. He should have declared that the only way for GM to solve its problems in the long term is to reorganize. His lack of leadership will cost
the taxpayers and GM big time
Wake up America!! Where do we draw the line? How do I know the president isn’t going to come to my place of employment and fire me?
America voted and is now getting what it deserves
Does the term…”New World Order” come to mind. No, let’s call it “Euro Federation” or “Global Federation”. He should have been fired a long time ago over their squashing of electric cars. Bad move! The firing should have been from GM not Obama, but then now who has the power?
The Fascist Left is on the move. Does anyone in the fawning media see parallels between this administration and Germany of the 1920’s and ’30’s? GM and Chrysler should have been allowed to reorganize under chapter 11 bankruptcy months ago. This group of social engineers in charge of our Nation WANT to control everything! Obama has amassed more debt in two months than all the presidents from Washington to George W. combined. These Liberal Fascists now have the power to bring about the ‘CHANGE’ they’ve been pushing for several generations. Look at what Pelosi’s world view has done to her home state–that’s what America will look like if this wholesale takeover continues.
The Fascist left have corrupted all public discourse. The American Republic is the only truly radical political revolution in the last thousand years. It will cease to exist under the leadership of the Social Engineers now running our Government.
where are the constitutional lawyers when you need one? And, where are the republicans?? Come on Eric Cantor this is your chance…. stand up and be counted!!!! Or should we sit back and let da bama take everything he wants, including your lunch….How does the united socailist sates of america sound? I get it why don’t they??? anyone?
Obummer has no concerns for the auto company’s. His concerns lie with the UAW and maitaining the flow of campaign money to liberals like himself and others. People should not call them auto bailouts. The proper term is UAW bailouts. If you want job security form a union and the union will donate a portion of your union dews to liberals thus insuring your employment. I know it sounds like blackmail but thats exactly what it is. Unions used to be happy just blackmailing companys and passing on the cost to consumers. Now they have the ability to extort from the American citizenry through the govt.. You could call it doubling down because they aren’t going to give up on blackmailing the companys and passing that on to the consumer. Union workers are generally high end welfare recipients. so hug a union worker.
I am pretty sure this is what conquest looks like.
No laws, no respect and no adherent to past history.
The US government is on a rampage to cover its butt for writing laws that spoiled their nest eggs and feathering concepts based on extortion of companies that are now bankrupt for all practical purposes and are now fleecing us to maintain the charade.
We should be terrified that there are still supporters of this dictatorial embezzling of our children’s future by power hungry players.
Just a mere few weeks ago Bush was chastise incessantly for creating a debt that was historicly high but has become so minuscule in comparison that if Bush was evil this government servant is Satan himself.
The yoke is being forged for your children and the mantra is still all about how handsome he looks or how charming his wife dresses. This exposes how infuriated the communists have been at Americas past stubborness not to comply to their way of servitude to the state. We are being stripped from our constitutional protections by a puppet of Marxism.
If GM can be dismantled at he whim of the Obot who is protected from his next plan?
As for my own personal opinion…there seems to be a huge disconnect with people interpreting Obama’s plans.