White House tells GM boss to step down

[jimmy olsen]

  I'm surprised. Didn't think they'd actually force out CEOs like that.

http://www.msnbc.msn.com/id/29946290/

NBC: White House told GM boss to step down
Comes on eve of Obama making major announcement about automakers

BREAKING NEWS
msnbc.com news services
updated 18 minutes ago

DETROIT - A senior Obama administration official has told NBC's John Yang that General Motors CEO Rick Wagoner was asked to step down by the administration.

The Associated Press reported that Wagoner will leave the struggling Detroit automaker immediately. The person asked not to be identified because Wagoner's plans have not been formally announced.

The move comes on the eve of President Obama unveiling his plan to reinvigorate the U.S. auto industry. Obama and other administration officials have said they would demand deeper restructuring from General Motors Corp. and Chrysler LLC before they would get any more government loans.

Both GM and Chrysler are living on a total of $17.4 billion in federal aid.

Associated Press contributed to this report.

[Valmy]

I'm surprised. Didn't think they'd actually force CEOs like that.

Obviously they wouldn't if they were not funding his corporation.

Anyway I have nothing to say on that matter until I see Obama's plan.

[Martinus]

OMG ITS COMMUNISM!11111

[garbon]

Anyway I have nothing to say on that matter until I see Obama's plan.

[Neil]

Anyway I have nothing to say on that matter until I see Obama's plan.

That's a hefty assumption, that Obama actually has a plan, rather than just witchhunting.

When it's all over, you'll all wish that Bush could have served a third term.

[Ed Anger]

When it's all over, you'll all wish that Bush could have served a third term.

Considering how much Obama is on TV, I already do. I'll take Bush's neglect of the last year of his 2nd term over Obama the attention whore.

I better not miss an episode of NCIS because of that fucker. I need my Cote de Pablo fix every week.

[Richard Hakluyt]

Anyway I have nothing to say on that matter until I see Obama's plan.

That's a hefty assumption, that Obama actually has a plan, rather than just witchhunting.

When it's all over, you'll all wish that Bush could have served a third term.

apropos your avatar, they will come to appreciate the glory that was Nixon one day 

[CountDeMoney]

Considering how much Obama is on TV, I already do. I'll take Bush's neglect of the last year of his 2nd term over Obama the attention whore.

I love my rock star President. 
Unlike Clinton, he doesn't even try to be the center of attention.  ZOMG BARACK ATTACK...*THUMP*

[Neil]

Anyway I have nothing to say on that matter until I see Obama's plan.

That's a hefty assumption, that Obama actually has a plan, rather than just witchhunting.

When it's all over, you'll all wish that Bush could have served a third term.

Once the hippies are mostly dead.
apropos your avatar, they will come to appreciate the glory that was Nixon one day 

[KRonn]

I guess this isn't too surprising, but GM's problems are systemic, and maybe not this guy's fault? Except if he's not putting through enough change and restructuring while the corp is in serious financial problems, and getting govt bailouts.

[Scipio]

If I'm Rick Wagoner, I have to say that I feel really conflicted.  ON the one hand, when GM goes down the tubes four months from now, you were already gone.  On the other hand, you're missing the opportunity to get sweet gov't cash.

[Faeelin]

Is it just me, or is there a strange divide in the tone between the way Obama handles the auto companies and the financial companies?

[PDH]

Is it just me, or is there a strange divide in the tone between the way Obama handles the auto companies and the financial companies?

He really got screwed over way back when he got talked into buying an AMC Pacer.

[DGuller]

Is it just me, or is there a strange divide in the tone between the way Obama handles the auto companies and the financial companies?

No, not just you at all.  I do find it disgusting that industries that actually make something and require relatively small bailouts are drug through the mud, while those who laid waste to the economy while in no danger of creating any tangible wealth get hundreds of billions quietly.

[Valmy]

Anyway I have nothing to say on that matter until I see Obama's plan.

Meh it is still early in his Presidency I am still trying to be fair