Rick Wagoner: “Sacrificial Lamb” or Corporate Ostrich?

I haven’t heard everything he’s said, but I haven’t heard tough love for the unions yet.
White collar workers at GM have lost jobs and benefits. GM is legally tied to the UAW. I don’t think Michigan can attract new jobs as long as the labor laws remain as they are.

What was it that Waggoner wouldn’t agree to do that the new CEO would agree to do?

Unfortunately,
Those who are speaking on this issue are coming from a point of ignorance. The comments by Gov. Granholm (btw a big fan of Obama and no Conservative) show the true nature of the situation. Most of you speaking on this issue (Tapper, Obama, etc.) are not from MI. Those of us who are Michiganders understand what is really going on behind the scenes.
For all of GM’s woes, there were many positive developments**. The affects of them however have not yet been felt. Now GM is going to have to continue Wagoner’s progress with new leadership (a difficult thing for any company to do).
NOTE** Those who want to challenge me on the “positive developments” comment should first read the editorial!

Sacrificial lamb so Obama can look presidential. What sets this guy apart from all of the other CEO’s who have run their companies into the ground?

CEO changes have taken place at many of the Banks and we all know that the current AIG Chairman was hand picked by Paulson. Remember the rank and file auto workers want to see some managment accountability while they make sacrifices.
I think any of these CEO’s would be relieved to walk away with their pockets full and not have to endure the tough decisions.

He didn’t really do that much muscle flexing, did he? He ousted Wagoner, then gave them both more time.
I read Obama’s list of demands as a way to force GM to be a green car company.

When the auto industry has huge overheads for health insurance for the thousands of personnel , and even more for retirees that are receiving health benefits. It is no wonder their businesses can’t make a decent profit. Their saddled with billions of dollars from a health industry, that have questionable practices. Isn’t that why we voted for President Obama , to bring in a single payer health care system? Not with what we are going to get–auditors, not doctors in wealthy insurance companies dishing out limited services. Being a moderate voter I think one of the most important issues to get Americans back to work is Health care? Large and small businesses in this America have to negotiate with the middle man–Insurance companies!
They are the inter-mediator, we can well do without? If car manufacturing companies didn’t have to pay extra for health care for it’s hundreds of thousands of workers. Then we would be on a level-playing-field, with our foreign competitors who are subsidized by their governments? Why is it European countries like France, United Kingdom have a single payer system through the government that–WORKS! The usual critics have everything to gain, and so much more to lose–they will put every obstacle in the way of Universal health care. Before Britain was invaded by immigrants under the European Common Market, my family had excellent Social health care.
Every employer and every worker paid into the system and the outcome insured you of hospitalization, doctor visits, specialists, eye and teeth care. Then of course the majority of upper class Americans don’t like the idea, because they can well afford the co-pays, premiums that the insurance companies add to their exorbitant fees. But then they get the best service, including home visits. The mechanics of health care in the US is no different to England’s, including sitting in the waiting room and seeing the physician. If you needed to see a specialist you was referred by letter. The Democrats will state they are working for the American people, but for some that’s an outright fallacy? It’s unlikely we will never get rid of the greedy insurance companies–until we have taxpayer Campaign contributions for many corrupt politicians. Same with E-Verify for US Workers, because big business didn’t like being cut off from cheap illegal labor. Of course the special interest lobbyists, will distort the truth to get voters to deny the 47 uninsured Americans (NOT ILLEGAL ALIENS) peace of mind–for–OUR–families and children.

“When the auto industry has huge overheads for health insurance for the thousands of personnel , and even more for retirees that are receiving health benefits. It is no wonder their businesses can’t make a decent profit.”
If Der CHANGEling had put the billions into National Health, instead of throwing it at the corporations … the US might not BE a failed state with a very expensive political class.
Obama’s remarks on the auto bailouts sounded nuts, whether or not Wagoner is a sacrificial er wolf.

Editorial in Detroit News.
Sorry guess this blog doesn’t allow links.

“Why even argue that he shouldn’t have resigned?”
There are a zillion interchangeable corporate clogs who can serve as compliant underlings.
The argument seems to be about whether the Obama organization is doing anything other than rearranging the deck chairs on the sinking ship of state, and loosing a lot of bad prose in the process. And doing away with any idea that “shareholders” beyond the mega-rich have anything to do with corporate affairs.
Everybody knows this is nowhere.

“Many people are asking why the leaders of the banks weren’t asked to leave, but apparently people haven’t done their research. Two major financial institutions at the center of this crisis — CitiBank and AIG –DO have different leadership.”
Wow, that was a quick way to make a lot of the earliest posters look awfully silly…
Argue based on reality folks or you too will look stupid.

How can any company lose $70 billion and believe that their leadership is traveling in the right direction? They should go through bankruptcy and sell off the unprofitable parts of the company and find someone who is excited about building a sound competitive company.

Sally J:”And now it is Obama’s GM (and Chrysler). He is now totally responsible for GM’s success or failure.”
Sure I shot him six times officer, but when I dropped him off at the ER he was still alive so it’s the ER who murdered him!
Come on Republicans, I would rather be impressed by your policy (like the 90′s revamp of welfare done with Clinton) than moved to laughter by your boggling simple mindedness.

Obama fired the CEO because he was a stumbling block on the road to socialism.

Wagoner is getting out while GM stock is still at an unrealistic, unsustainable high of $3. When they announce bankruptcy, it will be worth exactly $0.00.
Any junkyards going public with IPOs? With all the GM cars heading there, that business should boom.

jhw539: That would be a socialistic policy approach. Right?

dl:”jhw539: That would be a socialistic policy approach. Right?”
Yes. So I am correct? You honestly believe the US government is going to take full control of GM, remove them from the stock market, appoint all management and dictate from Washington DC all business decisions? And when you are proven wrong in 4 years, when GM is gone or a privately owned and manged company, will you vote for Obama out of recognition of all the time you spent spreading ill-informed nonsense about his policy approach?

talmag: I think you are misreading my posts. I am trying to get dl to define what he/she means with their meaningless “socialist!” ranting. If GM is a privately owned and managed company in 2012, and the banking system is in private hands (like after the S&L scandal), then I would hope the campaign that year points out all the over-the-top socialism lies thrown out by the Fundamentalist Republicans trying to obstruct the moderate and reasonable economic polices put forward by Obama’s administration.

While a very strong case can be made that Wagoner deserved to be fired, I have to say I’m concerned that the federal government is apparently trying to manage GM itself.
Should the Treasury Department really be the one choosing company CEOs, and deciding whether to keep the Saturn or Pontiac brands around? If they’re going to go that far, shouldn’t they just take GM over completely? I can’t imagine that a situation where GM management has to wait to see if its decisions will be overturned is a good one.

I Would hardly call anyone who made the money he made and still gets 20 million in retirement a Sacrificial Lamb.
Ju8st my thoughts.

Here’s the Irony…
1. Most of You Own a Japanese Car or German Car.
2. Most of You Would Not Buy a Used GM or Chrysler Car.
3. Most of You will Jump at the Chance to Attack The Government or President Obama…
Yet had little or Nothing to say about George W. Bush …
“Destroying this Country’s Wealth ,as well as the Greedy, Corporate CEO’s and Wall Street Heavies, who had and are still having a Ball with Your Money…
Note: You, the Tax Payer are the New Owners of …
GM:USA and Chrysler:USA
Spare me, Your Moaning…

“But as the chairman and CEO, shall we say, the Buick stops with him.”
Actually now it stops with the President. One can only hope that if he fails he will fire himself.

O, you are as entertaining as always. So I guess when I get some time later this evening, I will be allowed to come on here and moan and groan because:
1. I do not own a Japanese or German car, and never have in my entire adult life, nor has my spouse, my children, or my parents. We currently own a gm car and a ford truck and will replace both with new vehicles from american companies this year.
2. I would, and have, purchased used GM and Chrysler cars. I am actually looking at a used GM convertible as a birthday gift for one of my sons next month. I’ll let you know what we do. We would be replacing his beloved used Corvette that was totaled last year and replaced by another used GM, which is not a convertible.
3. Your ranting about Bush is the same tired rant. Work up a new one. Bush did not single-handedly drive this country into the ground, nor did his administration wreck the economy. Did Bush and company contribute to our present problems? Oh, yes. And I have complained about that, just as I speak up when I agree with Obama’s decisions. (For example, I think increased troops and increased economic support in Pakistan is a good thing. I think the retention of Gates and the appointment of Clinton are good things — okay, so Hiillary is making me nervous with her “who painted that” gaffes, but I’ll cut her some slack. I think the continuation and even acceleration of air strikes against terrorist sites is good.)
Do not jump to conclusions about those who disagree with you or who have grave misgivings about Obama’s domestic policies. We cover a broad spectrum, and each of us has our own unique perspective.

Obama’s opposition to GM’s restructuring plan looks like his plan to save us from our debt.
1. Most of Obama’s plan won’t be seen till 2012 or later.
2. Obama’s plan is way too optimistic, in fact it defies the law of logic. The U.S. has been in debt for a long time, so putting us in more debt is no way out. Someone please make him watch the movie “Dave”.
3.Too many dud nameplates?? Let’s see… how many people did Obama named to be in his admistration that didn’t pay their taxes? Talk about duds?
4. plus the rest
Where do you start? Don’t talk debt until you address the Nations debt.
SUV & Truck! An American car business sold to a foriegn business.. “Fiat” How does that help us? President Obama has infringed on the Constitution and is taking away the rights of Americans by being allowed to fire the GM CEO. This is very scary and the fact that most Americans aren’t getting this is scarier. Wake Up!

He wasn’t the First CEO to Lose his Job nor will it the Last CEO Fired for Poor Business Dealings.
Have any of you SEEN the Walk away Bonus Millions these CEO’s get..Hmmm
He’ll be Set For LIFE and you’ll bemoan his Firing as if he’s going to the Unemployment Line, or some Soup Kitchen, when he’ll be going to a Gated Community and 20 Million Dollars or More, for Destroying the American Auto Industry..
Please, Spare me, your Sob Stories on this OUTGOING CEO or any other [[FIRED CEO]]
1. Merrill CEO John Thain (fired after bailout and troubles surfaced)
2. Citi CEO Chuck Prince (resigned after troubles surfaced)
3. AIG CEO Robert Willumstad (fired after bailout)
4. Wachovia CEO Ken Thompson (fired after takeover/bailout)
5. Washington Mutual CEOs Kerry Killinger & Alan Fishman (fired after bailout )
6. Bear Stearns CEO James Cayne (fired after implicit bailout engineered by Govt. and JP Morgan)
7. Freddie Mac CEO Richard Syron (fired after bailout )
8. Lehman Brothers CEO Richard Fuld (resigned after trouble surfaced)
9. Fannie Mae CEO Daniel Mudd (fired after bailout )
10. Countrywide CEO Angelo Mozillo (resigned after trouble surfaced)

Obama did Gettlefinger and the unions a favor by getting rid of their biggest opposition. If the government would have let them go bankrupt and restructure (settling the legacy costs like pension plans etc..)this would have been a lot more beneficial. There is no way GM or Chrysler can be profittable with all of the legacy costs associated with the UAW. I smell a rat. Anyone remember how much the UAW and their PAC contributed to the Obama campaign? Pay to play is alive and well in Washington and that is very disturbing. Forcing a man to resign (basically holding a gun to the BOD’s heads if he doesn’t resign) because he can’t come up with a plan that Obama like is ridiculous. NOBODY will be able to come up with a plan to return GM to profittablity, Obama just blackmailed the BOD’s to get rid of this guy to appease the UAW. We shouldn’t have bailed them out to begin with but that’s what everyone wanted. Congratulations. The government can never run anything efficiently and everyone knows it. Why not let the market run it’s course? Toyota, Honda or one of the other foreign automakers would have eventually bought the facilities and employed American workers….it’s not like the jobs wouldn’t eventually return. Now American taxpayers are throwing money away to keep the UAW happy because the President is bought and paid for….calling it like I see it. You keep drinking from the everlasting fountain of HOPE and CHANGE. I HOPE our President & his administration CHANGEs some of their policies or we are all in big trouble!

Most of the bank heads were removed when TARP or other bailout money was injected, which leaves Citigroup and BofA as the two main surviving CEOs. Off with their heads! (And really, all this hand-wringing, angst and jealousy gets none of us any closer to financial nirvana. Let the banks/automakers choose and axe their CEOs, or pass a law saying, “If you accept money from the government, your CEO must go.” All this nattering negativity ((by nabobs)) is so time-consuming and useless.)

Rick was very foul for not selling all the GM private planes right away. He got that one wrong from the beggining and raised the anger of politicians and all the taxpayers.