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Wow - what a bunch of extreme right-wing hysterical anti-Obama, anti-governement posts about what was a perfectly logical and absolutely necessary business decision...
Everytime I read threads like this - I am more and more confident that the extreme right is flailing helplessly about and has no plan whatsoever - but who can blame them - with pathetic leadership from the GOP - and their twin Gods Limbaugh and Hannity stirring up discontent....
Wagner should have done this 5 years ago - minimum....
There is NO WAY the company is going to meaningfully reform itself with current management - NO WAY!!!
It could never survive with him at the helm - and I am sure that the board of directors came to this conclusion - and 'encouraged' him to make the right decision...
This 'socialism' frenzy from the right seems a lot like the 'communism' frenzy during the McCarthy era...
The President of the United States orders a private citizen to quit his job
If government chooses not to abide by the limits imposed on it by the Constitution, then that government has NO limits.
For those of you who believe that "It was best for the country that he step down, so that makes it OK for govt to tell him to leave" is an acceptable excuse, see the first sentence in this post.
Let's see... The Obama admin chose to decide which comapnies could fail and which couldn't, then made it so by doling out a trillion or more US dollars to the lucky ones.
Then they decided to control the salaries of some of the employees. Not many... but how long will that limit be in place?
Now they've decided to take the responsibility of deciding who can work where. Again, they haven't applied it to many... yet.
Remind me again why I should NOT think we are careening headlong into a socialistic form of government?
When you ignore the limits impose on the American government by the Constitution, you wind up with a government that has NO limits. We're not there yet... but the light at the end of the tunnel, is looking more and more like an approaching train. An EXPRESS train.
If government chooses not to abide by the limits imposed on it by the Constitution, then that government has NO limits.
For those of you who believe that "It was best for the country that he step down, so that makes it OK for govt to tell him to leave" is an acceptable excuse, see the first sentence in this post.
Let's see... The Obama admin chose to decide which comapnies could fail and which couldn't, then made it so by doling out a trillion or more US dollars to the lucky ones.
Then they decided to control the salaries of some of the employees. Not many... but how long will that limit be in place?
Now they've decided to take the responsibility of deciding who can work where. Again, they haven't applied it to many... yet.
Remind me again why I should NOT think we are careening headlong into a socialistic form of government?
When you ignore the limits impose on the American government by the Constitution, you wind up with a government that has NO limits. We're not there yet... but the light at the end of the tunnel, is looking more and more like an approaching train. An EXPRESS train.
Once a company takes the money,the government decides what and how you will operate...
Nonsense... GM should not expect additional bailouts from the taxpayer unless they committed to true reform - something they have stubbornly dragged their heals on until now...
They were not forced to do anything...
They could have kept Wagner at the helm, and foregone any future government bailouts - it was their choice...
Seems that if they went bankrupt all the right-wingers would be OK...
Well, the company decided the bailout was a heck of a lot more important than allowing a failed management team to keep their cushy highly paid and way over-compensated jobs..
I view this as a bit of sanity being injected into a pathetically managed company - one that would have failed were free market forces to have played out...
Anyone who owns a GM should be thankful - the resale value of your cars was prevented from becoming near worthless, and for at least the time being, you can still find parts and servicing for your cars/trucks/suvs.
I think the next logical step is for the HUMMER line to be dropped - with or without a buyer. What an absolute monstocity of a car line - and completely out of touch with the market place. Saturn should probably go too - don't think they turn a profit.
Point One: GM could've refused the money.
Agreed. GM should have declared bankrupcy.
Point Two: ..now they have to meet the terms of the "loan". Think for a minute. When you go to the credit union or bank for a car loan, do you think that the banker should dictate what kind of car you purchase, how many miles per gallon it must get, what color it should be, etc? Or if your small business goes to the bank, should the bank be able to decide what you should pay your employees, what hours they can work, what products you should produce? Of course not. The bank may refuse to give you a loan based on the percieved risk. That is fine. But once they decide to loan you the money, then it should be up to you to manage it. Do you want your bank looking over your shoulder seconding guessing every decision you make?
The bank has every right to ask you to come in quarterly to review your financials, but the underlying decisions that you make to arrive at the bottom line should be yours alone.
Your analogy is extremely flawed... The proper analogy is you go to your bank for a car loan - and you disclose to them that you will have to declare bankruptcy is you don't get the loan.
If it were GM going into the private market for a loan - they would never get it...
These taxpayer 'loans' are extreme high-risk loans - and these types of loans ALWAYS have special provisions in the private sector - provisions that sometimes tie the hands of the borrower behind their back..
So having special provisions for a government loan is just following what would have been the case with a private loan. Anything less would have been irresponsible on the part of the government.
If government chooses not to abide by the limits imposed on it by the Constitution, then that government has NO limits.
For those of you who believe that "It was best for the country that he step down, so that makes it OK for govt to tell him to leave" is an acceptable excuse, see the first sentence in this post.
Let's see... The Obama admin chose to decide which comapnies could fail and which couldn't, then made it so by doling out a trillion or more US dollars to the lucky ones.
Then they decided to control the salaries of some of the employees. Not many... but how long will that limit be in place?
Now they've decided to take the responsibility of deciding who can work where. Again, they haven't applied it to many... yet.
Remind me again why I should NOT think we are careening headlong into a socialistic form of government?
When you ignore the limits impose on the American government by the Constitution, you wind up with a government that has NO limits. We're not there yet... but the light at the end of the tunnel, is looking more and more like an approaching train. An EXPRESS train.
by MIKE ALLEN & JOSH GERSTEIN
3/29/09 5:23 PM EDT
Updated: 3/29/09 7:53 PM EDT
So you were at the meeting? You know what was discussed? And why, precisely, the CEO stepped down?
Oh right. Of course not. It's just another mindless, idiotic attempt to label Obama as a "socialist." Like you even know what that word means. And you people wonder why you lost the election?
Last edited by Marka; 04-11-2009 at 02:39 AM..
Reason: cut the quote
Private citizen should ask the President to quit his job.
Private citizen requests billions of dollars in handouts from the U.S. government, and the U.S. government--representing the U.S. taxpayer--should just bend over? Get real.
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The President of the United States orders a private citizen to quit his job
