rick wagoner is stepping down!

**1MileCrash** · 03-29-2009, 01:45 PM

http://www.bloomberg.com/apps/news?p...HgA&refer=home

looks like the bastard is finally leaving so now maybe gm can start coming out of the hole that he dug for it.

**cammed goat** · 03-29-2009, 02:23 PM

I hope this isn't an omen that GM is indeed closing.

**1MileCrash** · 03-29-2009, 02:31 PM

if anything i think it'll make their stocks rise for the first time in a decade. 8 years of this douche's leadership..."oh the market is moving towards smaller vehicles...how big can we make a suburban?!"

**cammed goat** · 03-29-2009, 02:33 PM

True. But after years of seeing stories of CEOs jumping ship on the news, this seems all too familiar.

**1MileCrash** · 03-29-2009, 03:16 PM

it looks as though the administration had a bit to do with it. apparently as part of obama's plan for the restructure of the companies (and the potential for any additional federal money) it was required that he step down.

personally i'm all to happy to see him go. now maybe they will get somebody in there that can understand the market. if it's not selling cut back on production and produce what is selling.

**joestacey06** · 03-29-2009, 03:19 PM

Originally Posted by 1MileCrash

it looks as though the administration had a bit to do with it. apparently as part of obama's plan for the restructure of the companies (and the potential for any additional federal money) it was required that he step down.

Don't be surprised to see one of nobamas buddies running GM.

**cammed goat** · 03-29-2009, 03:20 PM

Indeed. I just read in this month's issue of GMHTP that the G8ST has been cut.

**1MileCrash** · 03-29-2009, 03:28 PM

Originally Posted by joestacey06

Don't be surprised to see one of nobamas buddies running GM.

so long as they don't fuck it up any worse than it is currently and the company starts making some money again and producing the products that the people demand rather than trying to save face despite market conditions i could care less who runs it. i just don't think that wagoner was the guy that was going to do that.

**reds10406** · 03-29-2009, 03:31 PM

lets just hope the next guy is better than rick la douche

**Poppn** · 03-29-2009, 04:09 PM

Originally Posted by 1MileCrash

if anything i think it'll make their stocks rise for the first time in a decade. 8 years of this douche's leadership..."oh the market is moving towards smaller vehicles...how big can we make a suburban?!"

that would be cool

i bought stock in GM about a month ago when it was at 2.50 a share.

**1MileCrash** · 03-29-2009, 05:09 PM

Originally Posted by Poppn

that would be cool

i bought stock in GM about a month ago when it was at 2.50 a share.

and considering this i may have to join you

**2000LS1Bird** · 03-29-2009, 10:29 PM

Originally Posted by Poppn

that would be cool

i bought stock in GM about a month ago when it was at 2.50 a share.

Thats some risky business.

If they declare bankruptcy this summer, you're out 100% of your investment.

**Poppn** · 03-29-2009, 10:41 PM

Originally Posted by 2000LS1Bird

Thats some risky business.

If they declare bankruptcy this summer, you're out 100% of your investment.

I had some extra money around, so I decided to take the risk. I honestly don't think the government would allow that to happen, but only time will tell!

It's a super long term investment if they stay afloat, at least 10 years. But if they drop to less than a buck a share, Id sell and cut my losses.

**third_shift|studios** · 03-30-2009, 04:58 AM

Originally Posted by 1MileCrash

http://www.bloomberg.com/apps/news?p...HgA&refer=home

looks like the bastard is finally leaving so now maybe gm can start coming out of the hole that he dug for it.

He didn't step down, the government told him to

http://news.yahoo.com/s/ap/20090330/...wh/obama_autos

**1MileCrash** · 03-30-2009, 05:15 AM

Originally Posted by third_shift|studios

He didn't step down, the government told him to

http://news.yahoo.com/s/ap/20090330/...wh/obama_autos

when i posted the link and started this thread last nite it said that he was stepping down. at that time it had said nothing about the federal government being involved in it. i stated exactly what the news was at the time when i created this thread.

**third_shift|studios** · 03-30-2009, 05:24 AM

Originally Posted by 1MileCrash

when i posted the link and started this thread last nite it said that he was stepping down. at that time it had said nothing about the federal government being involved in it. i stated exactly what the news was at the time when i created this thread.

i'm not trying to argue

**camaross0002** · 03-30-2009, 08:23 AM

problem is wag started to show some improvements in the gm brand with a little pressure to step down by fucktard bama now lets see what happens to the company yeah the stocks will increase because they are getting another bailout. Which I don't think any auto company or bank deserve. But it's 50/50 if the company will turnaround but look at it this way wag stuck through all the bullshit tried to turn the company around but the economy didn't warrant it. Now you got the new camaro, you got the volt and a line of other new concepts coming up under whose management thats right wags mangment. Now the new ceo that steps in will be made to look like a savior because of wags work.

But the main question is why all of sudden the pressure on the auto manu. who got what 30 bil combined. What about the fucking banks that each were getting 100's of billions of dollars then 100 of millions of dollars for bonuses. How about them wheres the pressure on them notice the limelight is starting to slowly start shifting from them to the auto manu's. What the fuck nobody deserved the cash to begin with if you fail you fail not be fucking bailed out by the government with taxpayer cash when those loans will never be repaid. Your slowy but surely starting to see the forms of socialism occur here fucktard bama and gienter want the power to control the banks, pressuring auto company bosses to step down. Come on wake the fuck up.

**310stanger** · 03-30-2009, 08:47 AM

BOUT TIME! In no other industry can a CEO give his investers a lost in the billions every year and still hold a job.

Now maybe with proper management GM can showcase their fantastic technological engineering capabilities. Design a fuckin stylish hybrid sedan and stop wasting the technology on 6,000 lb trucks. Wagoner just doesnt get it. He had his chance he fucked it up.

**SS02** · 03-30-2009, 09:26 AM

don't let the door hit U in the @ss!

**1MileCrash** · 03-30-2009, 10:54 AM

Originally Posted by camaross0002

problem is wag started to show some improvements in the gm brand with a little pressure to step down by fucktard bama now lets see what happens to the company yeah the stocks will increase because they are getting another bailout. Which I don't think any auto company or bank deserve. But it's 50/50 if the company will turnaround but look at it this way wag stuck through all the bullshit tried to turn the company around but the economy didn't warrant it. Now you got the new camaro, you got the volt and a line of other new concepts coming up under whose management thats right wags mangment. Now the new ceo that steps in will be made to look like a savior because of wags work.

But the main question is why all of sudden the pressure on the auto manu. who got what 30 bil combined. What about the fucking banks that each were getting 100's of billions of dollars then 100 of millions of dollars for bonuses. How about them wheres the pressure on them notice the limelight is starting to slowly start shifting from them to the auto manu's. What the fuck nobody deserved the cash to begin with if you fail you fail not be fucking bailed out by the government with taxpayer cash when those loans will never be repaid. Your slowy but surely starting to see the forms of socialism occur here fucktard bama and gienter want the power to control the banks, pressuring auto company bosses to step down. Come on wake the fuck up.

actually i believe it was announced this morning that there won't be another auto industry bail out unless there are further management and worker sacrafices primarily in the form of individual perks. no reason for a ceo to get a new car every 6 months and free gas and there's no reason for a guy that moves a bumper in place on an assembly line to make $40 per hour plus benefits.

and i have to say that i agree with you on the point of other ceo's in other organizations such as the banking industry being forced to step down. we gave you how many billions of dollars and you don't know where it went?! what the fuck! you won't lend out money to jump start the economy while you foreclose on how many thousands of houses per month and you've lost millions if not billions of investor dollars in retirement funds but yet you give yourselves big bonuses, new jets, and a week at a spa all expenses paid?! the time has long come for those morons to be gotten rid of as well.