Did I just hear this right...about Obama???

Discussion in 'Politics' started by Alive in Christ, Mar 31, 2009.

  1. Alive in Christ

    Alive in Christ
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    I just caught something on the TV news about Obama, actually....firing...the...CEO...of GM?????

    If so...is this not America anymore? The government cant just swoop in and fire a private comapny's CEO!

    Is it happening? Is this ultra liberal beginning, so soon, to institute SOCIALISM here in the USA???


    Whats going on here?


    :godisgood:
     
  2. Steven2006

    Steven2006
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    Not quite accurate. GM is asking for billions of taxpayers money. They were required to submit a business plan. The plan they submitted was considered a failure and Obama suggested that if they intend to move forward in the process of being loaned billions they needed a new direction and suggested he resign. The CEO decided to step down and collect almost 23 million in retirement package. It is not unreasonable if a failing company with a failed business model is asking for billions for the one considering lending the money to ask for changes. He did have the choice of not quitting, and go it alone without our billions of dollars, his choice. I am sure however the board would have had something to say to him about that choice.
     
    #2 Steven2006, Mar 31, 2009
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  3. sag38

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    Funny, he didn't ask the union boss to resign. Why not? Should there not be a fresh start on both sides of the table?
     
  4. abcgrad94

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    Excellent point, sag!
     
  5. Steven2006

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    I have heard a few people say that on television, and while it makes for a good sound bite, it really is not a relevant point. It was the failed business plan that was the CEO's final downfall not asking for or needing the money. I am a very strong critic of unions, in fact I don't even think they are needed in this day and age, so I have nothing good to say about these guys. However GM is the one that is asking for billions, and they need to be held accountable. As far as the union, I hope that a restructuring in bankruptcy will void their contracts.
     
    #5 Steven2006, Mar 31, 2009
    Last edited by a moderator: Mar 31, 2009
  6. Pastor Larry

    Pastor Larry
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    The president should not be able to dictate the employees or salary of private businesses. The business plan didn't suddenly get better with Wagoner gone. The plan was bad. The money should have never been given in the first place.

    But if an investor wants to make these decisions, then they should buy 51% of the stock.

    The government has no business making these calls for private business.
     
  7. targus

    targus
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    Actually, to a large extent it is government regulations that is the down fall of GM. Fleet CAFE standards required GM to build a bunch of small unprofitable cars that are not sought by the buying market so that they could build their profitable SUVs and light trucks.

    Also a lack of an energy policy failed to keep fuel costs stable - ie. no offshore drilling, etc. The insability in fuel costs makes it difficult to predict future demand for different vehicles. When the cost of fuel increases or decreases suddenly the buying public can turn on a dime and the demand for different vehicles go up and down accordingly.
     
  8. Steven2006

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    I agree completely, but that still isn't relevant to the point being discussed.
     
  9. carpro

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    Close enough.

    Welcome to the Obamanation.

    This president , with no experience running any business of any kind his entire life, is now on a power trip trying to tell huge corporations who to fire and how to run their business. With advice from the likes of Barney Frank.

    It would be completely laughable, if it wasn't so anti-American.
     
  10. Steven2006

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    I agree up to the point that they ask for public money, then I don't see a problem. There needs to be accountability if they take taxpayers money.
    Of course not that is why once Wagonor stepped down they were given 60 additional days to come up with a better one.
    That is a different debate and not relative to this one. The fact is the money was given, and more money is being asked for.
    Ah, but there is the hitch, GM invited the government to be that investor. Why should they receive billions of or dollars no strings attached? That would be irresponsible, and not logical.
     
  11. Steven2006

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    I won't disagree that his administrations input might not very well goof things up . He is a liberal, and will want to see cars that only Ed Beckly Jr would want rather than what American's want to buy. But that is still not relevant to the fact that if a company begs for billions in taxpayers money the government has the right and responsibility to ask for some accountability. I don't understand why some many want our government to hand over billions of our dollars with no accountability for it. It makes no sense.

    If Bush wouldn't have wimped out and has either given them no money at all, or imposed his own rules of accountability before he gave them any. Obamo wouldn't be the one now doing it. Unfortunately Bush passed this right into Obama's lap.
     

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