AP Source: GM CEO Wagoner to step down immediately!!!

Just posted that in political section: I can't help but question whethe ror not this is even constitutional-the head of a private corporation being forced out by the government?
 
"The officials asked not to be identified because details of the restructuring plan have not yet been made public. On Monday, Obama is to announce plans to restructure GM and Chrysler LLC in exchange for additional government loans. The companies have been living on $17.4 billion in government aid and have requested $21.6 billion more."


Hmmmm, no surprise as Obama made it clear that GM and Chrysler need to "rethink" what type of vehicals they sell. Ie; pickups and gas guzzling SUV's and now probably the new Camaro! Time will tell I guess. Better buy that new Camaro now as it may be a 'classic' an a year or so.....:mad:

Ken
 
wonder what the poor guy got for a severance package ?? Does he still get his bonus to?? poor guy.. how is he goin to live his "lifestyle" now :confused: :p
 
wonder what the poor guy got for a severance package ?? Does he still get his bonus to?? poor guy.. how is he goin to live his "lifestyle" now :confused: :p

Heck.... with a HUGE severance pkg,,,, he won't even catch you:p
 
Ok, I'm not really paranoid or anything, but can the government REALLY do that?!? If Obama doesn't do his job, who can tell him to step down?
 
Ok, I'm not really paranoid or anything, but can the government REALLY do that?!? If Obama doesn't do his job, who can tell him to step down?

If Obama doesn't do his job, he can be impeached. Speaking from experience (uncle is exec at GM) CEO stepped down willingly...which is completely legal. Camaro isn't going anywhere (at least, no talk of it now) anytime soon. I mean, doesn't matter anyway, not like it would give a good GN a decent race anyway...ha ha ha ha :rolleyes:
 
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