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Resignation Rumored at GM
The Moderate Voice —
Just got two emails:
MSNBC BREAKING NEWS: GM CEO Rick Wagoner will step down from the company, CNBC has learned
New York Times Breaking News Alert: Rick Wagoner, G.M. Chief, Is Said to Be Resigning
General Motors’s chairman and chief executive, Rick Wagoner, is resigning, just as President Obama prepares to unveil his rescue plans on Monday for G.M. and the ailing American auto industry, according to a person close to the decision.
NPR reports GM's Wagner to resign, no successor as yet; NPR sees as part of Obama admin being tough on automakers
Corrente —
NYTimes has article; there are numerous other reports on this.
This may be an interesting comparison with how the administration treats heads of failed and floundering banks and how it treats heads of companies which actually make things (and have unions).
I feel the US automakers' management did not prepare for necessary changes, but, again, the comparison is with financial institutions which have brough the economy to brink and how their managment has been treated in general. Like being on the inside of major negotiations and decisions with the ...
GM CHIEF OUT
The Page by Mark Halperin —
CEO Rick Wagoner is asked to resign as part of the company's restructuring agreement with the Obama administration.
Comes as Obama prepares to unveil his auto rescue plans Monday.
GM Boss is resigning
Crooks and Liars —
And so it begins:
The chairman and chief executive of General Motors, Rick Wagoner, is resigning, just hours before President Obama was expected to unveil his rescue plans for G.M. and the ailing American auto industry, a person close to the decision said Sunday.
Mr. Wagoner was asked to step down as part of G.M.’s restructuring agreement with the Obama administration, according to an administration official who spoke on condition of anonymity because a formal announcement has not been made yet. Mr. Wagoner ...
Rick Wagoner is stepping down
Megan McArdle —
Apparently, the Obama administration has asked Rick Wagoner to step down as part of his deal with the administration: The chairman and chief executive of General Motors, Rick Wagoner, is resigning, just hours before President Obama was expected to unveil his rescue plans for G.M. and the ailing American auto industry, a person close to the decision said Sunday. Mr. Wagoner was asked to step down, and agreed to do so, as part of
G.M.'s restructuring agreement with the Obama administration, according
to an administration official who spoke on condition of anonymity
because a formal announcement ...
Obama To GM’s Rick Waggoner: You’re Fired
Oliver Willis —
Link
The chairman and chief executive of General Motors, Rick Wagoner, resigned Sunday as part of a broad agreement with the Obama administration to funnel more government aid to the ailing auto giant, according to people close to the decision.
Mr. Wagoner, who has served as G.M.’s top executive since 2000, agreed to step down after it was requested by the president’s auto task force, these people said. ...
GM Chief Booted in Bailout Deal
Truthdig: Drilling Beneath the Headlines —
... administration to funnel more government aid to the ailing auto giant, according to people close to the decision.
Mr. Wagoner, who has served as G.M.’s top executive since 2000, agreed to step down after it was requested by the president’s auto task force.
G.M. had no immediate comment on the stunning development, which happened on the eve of Mr. Obama’s announcement on Monday detailing his rescue plans for G.M., Chrysler, and the larger American auto industry.
Read more READ THE WHOLE ITEMRelated ...
Government: GM, Chrysler "may well require" Bankruptcy
Calculated Risk —
... code in a quick and surgical way." On Chrysler: The government said it would provide Chrysler with capital for 30 days to cut a workable arrangement with Fiat SpA, the Italian auto maker that has a tentative alliance with Chrysler. ... If the two reach a definitive alliance agreement, the government would consider investing up to $6 billion more in Chrysler. If the talks fail, the company would be allowed to collapse. From the NY Times: U.S. Moves to Overhaul Ailing Carmakers President Obama is scheduled to announce ...
Early Morning Swim
Firedoglake —
... Head of GM Wagoner out.
Damn right they did.
If Murphy wins, bye-bye MC Steele.
Awful.
Er, isn't the whole point to "increase government operations"?
Klein smacks down Ricks.
I'm not sure why anyone listens to Rod Dreher.
Nice going, Harry.
This outta be good.
Mitch Limbaugh.
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This Has to Be
The Corner on National Review Online —
... mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} .MsoPapDefault {mso-style-type:export-only; margin-bottom:10.0pt; line-height:115%;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} > the most ominous beginning of a headline: " U.S. Moves to Overhaul " (this time it s GM and cars, next time ?) ...
MADNESS IN DETROIT
Political Animal —
MADNESS IN DETROIT... The big news today is that the Obama administration is taking a heavier and more direct role in the restructuring of the auto industry--including demanding the resignation of GM chairman and CEO Rick Wagoner . The ...
Triumph of the Willfully Ignorant
The Republic of T. —
... ), while an industry that least employs everyday Americans in making goods that can not only be sold but that people can actually use actually must cut wages, must meet standards never considered for Wall Street. They had to cut benefits, ...
Unfair Bailout: Banks Treated "Gently," Manufacturers Not So Much, Says Elizabeth Warren (VIDEO)
The Huffington Post | Full News Feed —
... When car manufacturers in Detroit needed bailing out, Washington played hardball and made sweeping changes to the boards and management at both GM and Chrysler. ...
