USA: General Motors CEO said to step down

[edavisdavis]

The President decides on who runs a company?The land of the free?

[MrTheMercury]

This is just disgusting. Paying taxes to companies.

[Vstrat0]

if anyone in America can get GM out of the gutter it's Whitacre. This is the best appointment they could have made.

As I predicted, he is using the exact strategy which made Southwestern Bell the most successful business in the last decade of the 20th Century, evolving from a 5 state telco into the worldwide service provider T.

"I want to win, win, WIN."

Very simple.

[az777641b]

JUST IN !!!!! Wagoner, 56, who was ousted by the Obama adm will get $1.64 million in benefits annually for each of the next five years, plus an annual pension of $74,030 for the rest of his life, according to company documents filed Tuesday with the U.S. Securities and Exchange Commission.He can also choose to cash out his company-provided life insurance policy at $2.6 million, according to the filing. The total package is 10 Million. I bet his employees were well taken care of, haha

[SigalaSigala]

Love freedom? Boycott all GM and Chrysler products.

[Elvensteel0]

Global Economic Alert

US Public Washington Wall Street Main Street Dont let GM go Bankrupt on Monday 1st June 2009

On the bloomberg cable television channel around 2003 an economic adviser quite siply said GM - General motors cannot compete with rivals due its generous pension scheme which will bankrupt it.

This points to the question of why the US government didnt just rescue GM's pension plan?

Shareholders have a right to this Answer before bankrupcy is DONE!!!!!!!!!!!!!!!!

[usuc1212]

SMARTWALLETdotORG

[ophachew]

(O)ne (B)ig (A)s! (M)istake (A)merica What killed GM and Chrysler? Too much competition and over payed and under worked unions.

[echosofangels101]

the economy's going down. i don't think obama is right 4 the job of prez. of the united states.

[emforty2]

Epic failure of a once mighty company

actually people though GM was good because there was no foreign cars competing with it as that was the only availalbe product.

but with the competition they don't have a chance

in engineering nor quality

no wonder they have been losing marketshare the last 50 years

[jimmyfro5]

Obama, like many politicians believe I make too much money working at GM. He just can't say it. I haven't seen the new modified GM national agreement, but it appears that it wasn't lean enough. This will let GM and the UAW off the hook a bit, so they can come back to me and say ..we tried. I'll take a paycut, but the view that I make "TOO much" is a defeatist view. People should be saying. WE should make a comfortable living TOO. Don't lower the bar, raise the wage. $60,000/yr is modest.

[ComradePatriot]

GM and Chrysler will go bankrupt and no doubt about it. When they had a crisis in the 80s they were able to pull out of it because there were fewer competitors. Mainly Japanese Honda, Nissan, and Toyota. Now there is Suzuki, Hyundai, and Kia that sell a lot of cars in America that were not around in the 80s. More players now cutting up the pie. Soon India and China will be selling cars in America. So the question is when will GM and Chrysler fall and not if they will fall.

[BoomerNavy70]

Nardelli was the CEO of Home Depot and left with 240 million? So now he ends up being CEO of Chrysler.

Will someone please tell me who his headhunter is. My goal in life is to be appointed a CEO, fuck up the company, and walk away with millions.

This generation of corporate management is the worst in our economic history. These are the same college educated, Vietnam draft dodging assholes that were going to fix the problems.

They have fucked America, and everyone in it.

[BoomerNavy70]

By the way, the ousted CEO is walking away with 20 million in retirement. Do you think he really gives a shit that he failed?

In this country we reward failure, in Japan they are disgraced by it.

I feel bad for the Union people and I am sorry, but when the company I worked for went belly up the Auto Union wasn't send ing me any checks or caring about my family.

[BoomerNavy70]

President Obama isn't the one that put General Motors where it is today.

If all these so called MBA's in management had any brains you wouldn't be in this mess.

I was a big GM fan until the cars I bought spent more time in the shop than on the road.

I have a Honda and Nissan in the garage that are 15 years old. I replaced the breaks and oil and nothing else.

When are these companies going to get it?

Build a good car and people will buy it. All of a sudden we have to pity GM.

[jsmithprivatedancer]

It's a PLANNED IMPLOSION of the USA economy. The ANTICHRIST will be revealed soon. Get your GUNS, FOOD, Survival Gear. Union Guys and U.S. Patriots have to stick together and fight the NEW WORLD ORDER. It's coming like it or not. The government are building Mass Graves in AZ, Houstan, Chicago, GA. Inflation is on the rise. The GM bankrupty is going to put the final nail in the USA coffin. U better perpare and organize and resist the NWO. Don't let them break U.

[ANTIEMO571]

There is no new world order, the economy was not sabatoged by the government, there are no mass graves in any of the states you named, and there will be no new revolution. STFU YOU PARANOID CONSPIRACY THEORIST AND GET OFF OF YOUTUBE!

[yo1dude1man]

President's Ball Size Meter [Democrat or Republican - doesn't matter]:

Industry  Size

Automobile Soccer Ball

Banks BB's

[RonFella]

What a crock! You may have a warrenty but if no one is making the replacement parts you still ain't gonna get you car fixed. This Obama is destroying our country!

[812edward]

You mean GM & Chrysler are destroying the U.S.

economy.

[RonFella]

Yea right buy trying to sell cars "GM & Chrysler are destroying the U.S. economy". LMAO! Dude take an economics class will you? What are you in HS?

[iron1215]

Hello. Communism.

[812edward]

You can thank Bush, GM, & Chrysler, for putting the economy & the auto makers, in a mess. Profit Is Job 1, to them. Not what the American public wants to buy.

[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

[S197V6TT]

Hey InfiniteMischief, think about this.. In Santa Clara, California, where the computer you are using was designed, and it's intellectual property was sold, and all the Jobs which produced it were shipped to China.. A man slaughtered his own family and his future because of money problems most likely.

We need Prayer Sir.. We need a Savior, because it is so bad, that men in the United States of America willfully and with malice murder their own family because of money.. Pray for us here!

[InfiniteMischief]

Your preaching to the choir... but I'll not get drawn into a theological debate of beliefs. We agree that is the ultimate solution and that perhaps this financial melt down may be a part the vehical used to facilitate the return that is promised but God can't steer a parked car...i'm serious dispite my obvious attempt at puns.. please realize that your on the verge of a socialist or marxist state and a revolution such as the world has never known. I believe in the constitution, STAND UP AMERICA!

[InfiniteMischief]

think about this a second,if we take every car that GM made in the last 10 years and find an average price per unit and then divide the 'bail-out' money by the number of units and add it to the average cost per unit we will get the actual cost as an average price per unit.The new chevy truck that you just bought costs more than your house! I'm a Canadian, have lots of American family,,,love you guys!...don't make us come down there and burn your whitehouse down AGAIN!

[S197V6TT]

LOL!!! We love you to man!!

We will straighten this shit out!! Give us more time Sir!!

[S197V6TT]

Who are these people, where money actually grows and falls from trees? Who are they? Where do they come from?

This is amazing, how failure is rewarded with money which seems to fall from trees.

We have got to be in the Twilight Zone!

[S197V6TT]

I can't even contemplate a person getting a $20 million dollars in retirement for failure..

Any of you who while under the employment of your Job, bring your company to the brink of non-existence, after laying off thousands of workers and innovators, and problem solvers, leaving your intellectual property up for grabs for any other company with similar technology, would be fired and never receive anything close to $20 Million for retirement. You would be lucky to get 60 Days severance pay!

[GreatSatan1]

GM didn't change as much as the country has changed. As much as the government has changed.

People will be forced to "like" whatever fuel efficient cars the government tells us to like..

Mostly too expensive death traps.

Government won't allow development of our own fossil fuel energy sources while we send our money to other countries sending us fossil fuel. Makes no sense to me.

No nuckear energy either. Makes no sense to me.

It is a government mandated end of an era.

[kaynada]

This is hilarious. Executives of banks and companies have created history's worst financial crisis and get to walk away from the misery with million dollar bonuses and retirement packages. All of it drawn from taxpayer bailout money no less. The American dream.

[JCJ77]

Many thought they saw fascism in the last 8 years- but this is fascism this is what we have brought onto ourselves. Il Duce would be so proud.

[GreatSatan1]

You got it wrong, dude.

It goes like this (sort of)

Ooo eee ooo ah ah

ting tang walla walla bing bang.

[1514dustin]

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

[MotownMoleman]

Great, Obama wants a scape-goat, Obama gets a scapegoat.

Maybe the Democrat's biggest supporter, the UAW, is going to realize that they are alone; they are going down and they will have NOTHING!

[EmeterioBetances]

No More BAILOUTS with the money of the tax payers! ITS TIME FOR UNIONS TO START PRESSING THE ISSUE!