Obama Adm. Asks GM CEO Rick Wagoner To Step Down

[railtruckdriver853]

if i had been rick w. i would have told mister president to shove it i am not stepping down!

[bishopm5]

Breaking News - UAW gets pay off for democrat donations all these years.

Funny thing the UAW are one the reasons that brought GM down in the first place.

[BrainDeadRepublican]

The Labour Charter of 1927, by the Grand Council of Fascism, in article 7: "The corporative State considers private initiative, in the field of production, as the most efficient and useful instrument of the Nation", and in article 9: "State intervention in economic production may take place only where private initiative is lacking or is insufficient, or when are at stakes the political interest of the State. This intervention may take the form of control, encouragement or direct management."

[mingestion]

Tesla Roadster

that is all

[awhiteman]

Obama is just using his to increase his power.Mussolini Did the same thing when he took over Italy. Obama is going to take over all the businesses he can. as if his band of crooks could run anything but acorn.

[9ReaperX]

Wagoner is a tool, no wonder the White House fired him. Consider the following:

*their Volt is still slave to a gasoline engine, has 1/4 of the range of the EV1 (without gas)

*They cannot use the NiMH battery technology that GM used to have a stake in, because they sold it to Texaco Oil.

*GM ignored the soaring oil prices and went on with 'business-as-usual" manufacturing gass-guzzlers, making GM lose 90% of its share price and $85M.

It all happened under his [lack of] leadership.

[blkconservativ]

R.I.P. GENERAL MOTORS...

GENERAL MOTORS is now GOVERNMENT MOTORS!

[sep0507]

JohnR: It's not a surprise that you're anti-union. There are a lot of good things that unions have done fpr everyone, especially those not in unions. You pick on the UAW like it was the only union involved in building cars. How about the steelworkers? We use their products! How about the rubber workers? We use their products! How about plastics and glass workers? We use their products! Etc;! You pick on the autoworker yet don't raise an eyebrow to the other 'high paid' union workers that count.

[JohnR22926]

sep: the only reason I picked on the UAW in these posts is because of the subject of the vid. But...I"m very much anti-union in other areas too.

THere was a desparate need for unions in the 20s/30s, but the balance of power shifted in the 60s. Unions became too powerful and could dictate contract terms through extortioniate strike tactics.

I grew up in Michigan and saw first hand what happened. We all KNEW this day of reckoning was coming and that worker compensation couldn't be sustained.

[dharman19662u]

Our president is attacking Rick wagoner??

Fuck..I hope Obama doesn't come after me next?

[blkconservativ]

@dharman1966u: you hope obama doesn't come after you next? TOO LATE!

he already got us with those stimulus and omnibus bills. how does it feel to be rubbing balls together lint in your pockets?

[horta85]

Wow Obama is amazing! Just like he has a solution for everything now he knows Autos!

stupid just stupid

[elpatriotaLX]

That was a fucking idiotic move from god damn Obama. He is now the CEO of GM.

What an idiot... Rick Wagoner kicks the shit out of OBAMA any time. He was one of the best CEO's in the country. He earned his position with straight meritocracy not by popularity.

Damn congress too... The government is not taking any responsibility for anything and they keep blaming others. They blame us, they blame wall street they blame everything. This is Fucked UP. So long USA as we know it.

[mightydesign]

Obama as a community organizer tried 2 bring jobs 2 his neighborhood, received millions for a building to bring employers & job seekers together. It failed to bring jobs. He did receive millions to build lower income housing, but those buildings are condemned, they are not safe. He received millions to improve schools which he admitted resulted in no improvements. Hey did try to help, but his ideas failed. Now as Pres he is creating another bubble that will burst by trying to fix economy.

[johnnyharpe]

Obama's going to run not just GM, but the entire industry! That's fantastic, considering he's never run so much as a lemonade stand. I mean, how hard can it be, lol?

[ManFaded]

Now, you've been keeping credit from me

Just like you were a miser

And I'll admit I am not very smart

So I went out and got myself

A prescription from Phizer

That masks the death of freedom from my heart

[1514dustin]

What is being done is unconstitutional.

Let GM fail. Then let a new company buy it with people that know to run profitable car company. Then we could export these US cars. Which would bring even more jobs to this country.

[wtfoof]

How is it unconstitutional?

[1514dustin]

wtfoof - Do you want to know why it is unconstitutional? Because it is not in the constitution.

[wtfoof]

It not in the constitution? So if something is not in the constitution its unconstitutional? Well, lets see driving on the right hand side of the road isn't in the constitution either so that must be unconstitutional!

Either you sight the article or amendment that makes this issue unconstitutional or shut the fuck up!

[1514dustin]

Well you sure got me on that one!

It still isn't in the constitution.

Government control of private company. Oh wait!

Your right, Obama will have it in there soon.!

[NewLight987]

Exactly. I agree. It's not the goverment's job to fire CEOs and take control over major private companies.

[Bellita1]

This is just the latest action in Obama's Plan to turn the USA into a Socialist country. We all knew it was coming but most of the country was too stupid and elected this communist anyway.

Obama is now solely responsible for the outcome of GM.

[BLCalifornia]

> And now our pathetic President (who has never so much as run a lemonade stand) is going to destroy General Motors.

> Hey UAW -- you guys are getting punked by the crook in the White House.

[1514dustin]

The lying Rebublican/Democrat politician critters and the Federal Reserve,(which is neither federal or a reserve) fired up the printing press and printed, counterfeited, trillions of dollars out of thin air. The dollar is doomed. The Bush Administration along with Obama and his, are criminals. IT'S AN ACT OF THEFT what has been done to our country over the last few administrations. Buy gold and buy lots of silver coins before its too late.

[MotownMoleman]

More proof that the government will ruin the auto industry. Obama wants the company to be leaner and meaner? How many more jobs does he want to cut? How many more benefits shall retirees lose? How many more factories closed? I thought Obama supported unions and the American worker. This shows NOTHING to that effect.

[bertly71]

The Democrats have ran Detroit proper into the ground for decades with government corruption and ineptness. Now they are going to run GM? Time to start buying Fords.

[aFlyInDaOintment]

yeah, government corruption. The yokel's who ran these company's put them six feet under. More blow-back from the "end of an error" of 2009.

[bertly71]

Look at the political contributions in the last election to the winners and you will find the same companies or people on the bailout list of recipients. The GM CEO landed with a 20 million dollar parachute. I would let Obama fire me if I got that severance package. I am sure that parachute had some taxpayer dollars in it because GM is broke.

[lordcron]

Thank you President Obama for doing what other presidents should have done some 40 years but was too scared. You aren't letting these people who can't see what your doing scare you out of doing the real dirty work of fixing the plumming of our Financial system so this kind of mess never happens again. So many before you had a chance to fix this mess but choose not to in order to look good for the people. You're the only one who knows this is true love of country.

[iambvd]

It would get fixed a lot quicker if he didn't do nearly as much. Let GM fail, it's natural for companies to fail, it really shouldn't be that big of a deal.

[SNORKL00]

he is a waste of time , harvard mba all bull shit.

[timetofly5]

LOL you fools How do you say ripped off after getting over 20 million of tax payers money money in less then a year GM is going to file bankruptcy on the small business that supply parts and services to the company, that will be good for the economy! LOL

America Needs a Tea Party like never before

[sep0507]

Wagner might be stepping down as CEO, but it doesn't necessarily mean he's leaving the company. This is strickly a political move because almost every red neck GOP senator or representative would vote to kill GM. By Wagner stepping aside, it takes away any animosity that those GOP yoyos have to bitch about. It isn't because someone else could run GM better, but becaus he is not a well liked individual amongst the Southern GOP jerks, who cater to foreign automakers in their non union states.

[johnnyharpe]

Republicans couldn't "vote to kill GM", the Democrats and their Union friends killed GM. Along with GM management. They all agreed to terms they couldn't live up to. It's not the phoney-baloney Republicans' fault.

[sep0507]

Oh but it is. The Republicans coddled up to the non-union import plants and devised a strategy that would ensure that they remain non-union. By 'killing Gm & the UAW', what better disincentive is there for joining a union? If the pressure is off to organize, then it's pretty safe to say the Repubvlicans did their job and kept their states union free and Jap Proud.

[JohnR22926]

sep: The reason the US can't compete with foreign companies is because of our insanely high wages/benefits (created by powerful unions in the 60s/70s).

The Japanese companies located in the south pay an excellent wage and are economically healthy. Unlike GM/Chrysler which are at death's door.

You just betray your bigotry and emotionalism by using terms like "jap proud". The unions have destroyed american industry and the only way we'll be competetive is by severely limiting union power.

[sep0507]

JohnR: Thats not necessarily true. Japanese companies in the south enjoy subsidized health care but the US automakers sholders the whole burden. They also don't have any 'legacy' costs(retirees). Yet. But when and if they get to the point of completely dominating the US market, what incentive will they have to remain here as manufacturers? NONE! We just might see them head for home base since they's have us by the balls. Thanks to unrealistic trade policies I hate Jap imports!

[JohnR22926]

sep: Yes, you're correct. The single largest factor in GM/Chrysler's unprofitability is their pension burden...and the key factor there is health care.

Competition is absolutely critical iot keep costs down. But...there are many japanese auto makers as well as european, korean, and I'm sure very soon...Chinese.

I generally support Obama's plan here which is to put GM through a govt controlled Chapter 11...but to guarantee the warranties so sales don't drop. We'll have a smaller viable GM.

[Speakmymind02]

ROBCRX is right, in the first 40 days as President, Barack Obama spent more than 1 trillion dollars.

Barack Obama "You're Fired"

[ROBCRX]

The U.S. can send people to the moon, but they cant build cars people will buy ?

There's a consipiracy here in the auto business...

[ROBCRX]

Obama should step down, not Wagoner !

Obama has thrown away so much money these passed 3 months. Just like burning it. Cant believe it. The Obama admin has no plan. They think they do, but they dont. Eventually no one will lend the U.S. money anymore.. That's when it's gonna get rough.

[spazzovision]

Take the money....lie and then don't step down....if I was the CEO that is what I would do.....SUCKERS!!!

[bbnemesis123]

This is horsepoo. Obama gave the bankers TRILLIONS of dollars with NO strings attached and the same scum bankers are STILL with the company.

The auto industry is one of the few manufacturing companies that the U.S has. NOW, govt is going to tell someone who received money what to do with the business. What about the BANKS who caused the WHOLE crisis? The Banks are still doing the same crap. GM has the Volt car which is the better than any foreign car. GM will be destroy by the govt.

[aFlyInDaOintment]

it was bush, horsepoo on you. Furthermore, GM destroyed itself, as did chrysler, as did AIG. At least ford had a plan, if it succeeds or not is another question.... hope so, tempting to buy their stock.

[johnnyharpe]

BLACK MAN TELLS THE WHITE MAN! You White idiots elected a black guy who HATES you, LOLOL.

[johnnyharpe]

Now all the world can see, FINALLY, the black man tells the White man! That is what this is really about. That's why all the darkies around the world love Obama, cause he ain't a White man. Now, he's showing the White man. You White Obama-voters are idiots, lol.

[GoogleSlave]

Yes, this is mainly Obama telling the 97% black population of detroit - "look what I can do!"

[sep0507]

johnnyharpe...You're an idiot.

[aFlyInDaOintment]

your probably some pissed off white male mccain supporter that wants to fuck palin. You can have that ass, both of 'em.

[Sonar37]

Why is it that Tesla Motor company can build an all electric car with a top speed of 130mph and a range of over 300 miles per charge? I live in Michigan I have family that is affected by the big threes bad choices.

[aFlyInDaOintment]

I hear ya, Sonar. You wondering why they wanted everyone to by H2's @ 50K? Sorry mate, I do hear you. Those Teslas are like 100k, but a prius isn't. Your unemployment rating are probably higher in MI, but here in "business friendly, sunshine FL they are 10%" Good luck to us all.

[bwpSnakeEyes]

The Point is, no government official, or office should have ever given our tax dollars to bail out a failing industry. That is not the way a successful economy works. The more the government screws with the economy, the worse off everyone becomes! And Yes, Bush screwed us just as much with this bailout crap. Yes the government knew what they were doing when they blindly signed that bill. We the people need to let them know that they were wrong. We have the power to put them in OR OUT of office.

[sep0507]

The Point IS, we cannot allow foreign entities to have an unrestricted role selling their goods and services here in the US. WHO would you like to see build the next generation of military vehicles? Japan? China? Russia? There's more at stake than most people are willing to admit, and it's a shame that not enough citizens want to stand up for American industry.

[aFlyInDaOintment]

I would be interested to hear more from you on this, sep0507. But America has spent close to a decade in an unholy alliance with China. The potential benefit to the world is that their cost of business in dealing with our capitalistic system has eroded the power of their communist central government. It probably doesn't bode too well for us in America that we've got a two front war we haven't been able to handle since 2003.

[ManFaded]

Born in the U.S.S.A.....I was born in the U.S.S.A.....Born in the U.S.S.A

Sing everyone!

[spazzovision]

Born in the U.S.S.A. ...I was born in the U.S.S.A.....you don't know how lucky you are boy....born in the U.S.S.A!!!!

[aFlyInDaOintment]

fucking crackheads

[PhuckHue2]

NA NA NA NA Hey Hey Hey Goodbye! We should shove all those GM crap cars up his ass

[ali198021]

sell GM to china.............

[Speakmymind02]

Notice that Obama asks GM CEO Wagoner to step down,

Yet has full faith and confidence at deer in the headlights-Tim Geithner

[bwpSnakeEyes]

We need to band together and overthrow our government. They are taking steps of socialism and tyranny that we can not afford. CALL YOUR CONGRESSMAN AND REPRESENTATIVES! LET THEM KNOW YOU DON'T AGREE WITH THIS MOVE! Its time our government did what the people want.

[spazzovision]

totally agree...what the hell is government doing meddling with private, publicly owned companies... better to go bankrupt than accept blood money from this administration.

[lordcron]

Look.... If your have your hand out then you have to jump through the hoops of who you have your hand out to. President Obama is fixing the infrastructure of that company and will not have people standing in his way. How dare you think this company should be able to get billions and still have the power to do anything it wants with it. The moment that company asked for and got bailout money was the moment we the tax payers owned it. This ain't your grandaddy's America anymore. Go Obama!

[spazzovision]

So you think Obama can run GM better then let him step down as president and do it...The only thing gov't knows how to do is waste tax payer money. How about keeping their(gov't) nose out of this problem and let capitalism run its course.

Impeach Obama!!!

[FutureTimes]

It's unfortunate that the US Government has once again washed there hands of any guilt. How about failure to regulate imports? If you leave the flood gates open someone will drown! Sure the American Auto industry made mistakes too. Let this be a lession. Our government is doing the same with illeagal aliens and the Americans will all drown at the hands of our leaders. We will all be bankrupt just as GM was. Google this - USA Green Card Lottery Registration Service

[PhuckHue2]

How about engineering a better car that can compete with the Japs? There is no excuse for the garbage rolling off our assembly lines

[ConservativeNow]

How about shit-can the unions? GM makes a fine car, they can't afford uaw demands. GM's last mistake...taking bailout money from a corrupt government. I can't feel sorry for them. If you see Obama ,run...run very fast in the opposite direction. When you see Obama, you will see failure shortly thereafter.

[aFlyInDaOintment]

Really loved that profit laden H2 POS that ran around with its 10 MPG, thanks corporate execs for lobbying bush to keep epa mpg standards down & away from trucks/suvs... major part of the gas crunch of 2008 (& criminal profits for cheney's friends).

And to agree with you on my first point here, CN, those unions have passed their prime... but so too have the overpaid execs of these dinosaur organizations (ie Nardelli = THD). They need to either reorganize or be allowed to fail (happening).

[jvmalum]

its all about separation of classes, Those who rule and those who serve those who rule. The Poli--ticians seem to have the idea the they are Rulers rather than public SERVANTS, and it is our sole purpose to serve them, and make no mistake it is the Democrats and Republicans that are doing this, they are working in perfect harmony with each other. It looks like we have elected our DIC---TAT---OR