Obama To Appoint New GM Board Of Directors

[angelatc]

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/31/AR2009033101521.html


U.S. Plans Key Role In Naming GM Board
Government's Sway Over Firms It Aids Is Topic of Debate

By Peter Whoriskey and Kendra Marr
Washington Post Staff Writers
Wednesday, April 1, 2009; A01

The Obama administration will play a key role in reshaping General Motors' board of directors over the next six months, potentially giving it even greater control in the management of the storied American manufacturer.

The president's auto task force plans to consult with the company as it replaces a majority of its board, a White House official said. The board today largely consists of the current and former chiefs of major U.S. corporations such as Coca-Cola, Ernst & Young, Pfizer and Eastman Kodak. It is not known which of the 12 board members will leave.

The president said Monday that "the United States government has no interest in running GM." But in practice it is already exerting tremendous influence over it, a situation that has triggered fierce debate over how much power the government should wield over the companies that it aids.

Kent Kresa, 71, GM's new chairman, said yesterday that company officials will seek to replace a majority on the board by August, as the automaker moves to restructure operations.


I have no doubt that at least one of them will be a little green guru.

[torchbearer]

Am I the only who see's this as fascism?
I mean, is Obama the majority stock holder?

[gls]

Who would buy a car made by the government? Talk about a death wish.

[acptulsa]

This is insane. The Board represents the stockholders. Does the government own GM, and if it does how is this not fascism?

[torchbearer]

This is insane. The Board represents the stockholders. Does the government own GM, and if it does how is this not fascism?

Stockholders have no say.
Are you interested in stocks now?

[acptulsa]

Stockholders have no say.
Are you interested in stocks now?

I'm interested in locking Obama and Geithner up in a set of stocks and throwing rotton tomatoes at them.

[moostraks]

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/31/AR2009033101521.html




I have no doubt that at least one of them will be a little green guru.

Banks skate, and GM is micromanaged. Oh the hypocracy! They want to make sure the new folks stick to the script at GM.

[Xenophage]

You reap what you sow. GM went begging to the government for help. Kinda like making a deal with the devil, don't you think?

[torchbearer]

You reap what you sow. GM went begging to the government for help. Kinda like making a deal with the devil, don't you think?

Perhaps it is time for a new car manufacturer to come on the scene.
If only I had the know how...

[pcosmar]

Am I the only who see's this as fascism?
I mean, is Obama the majority stock holder?

No
and no.

I am puzzled that many here are posting like we still have a representative government.
Everyone seems to have missed the announcement of the creation of the New World Order.

The United States of America is nothing more than a geographical area under UN control. :mad:

[pcosmar]

Perhaps it is time for a new car manufacturer to come on the scene.
If only I had the know how...

You would need the permission of TPTB.

[torchbearer]

You would need the permission of TPTB.

I think the south could pull it off. We have steel mills in alabama, and nascar mechanics out the ass.
Cost of living is low, so we could build them cheaper than michigan.

[Mesogen]

U - s - a !

U - s - a !

U - s - a !

[ChristopherJ]

Who would buy a car made by the government? Talk about a death wish.

They'll just lower the price below market value and subsidize the losses with our tax dollars.

[dannno]

I think the south could pull it off. We have steel mills in alabama, and nascar mechanics out the ass.
Cost of living is low, so we could build them cheaper than michigan.

Did you see that story the other day about Obama decrying that GM/Dodge and some other company are being pulled off the Nascar circuit??

That's not a bad idea, there's going to be a lot of Nascar people out of work.

Also, you don't have to build the body of cars with steel. Maybe some composite fiber using corn stocks (hemp would be preferable of course, but it's expensive).

[angelatc]

I think the south could pull it off. We have steel mills in alabama, and nascar mechanics out the ass.
Cost of living is low, so we could build them cheaper than michigan.

COL is not bad here. Union wages are the problem.

[angelatc]

Did you see that story the other day about Obama decrying that GM/Dodge and some other company are being pulled off the Nascar circuit??
.

That was an April Fool's joke.

[silverhawks]

Am I the only who see's this as fascism?
I mean, is Obama the majority stock holder?

That's exactly what this is. Welcome to fascist oligarchy. I'm not kidding myself that Obama is calling the shots - he's just the face man.

[LibForestPaul]

the company is willing to use bankruptcy proceedings if necessary to shed its overwhelming debts, he said.

He said the company and stakeholders prefer to stay out of court, which "does involve risk" and could hurt the company. But a team is working on that strategy in case it becomes necessary, he said.

hope = nope

[torchbearer]

COL is not bad here. Union wages are the problem.

I've actually been throwing this idea around with some mechanic friends that are also racers.
May do it if we can scratch up some capital.

The first day a union in set up in my plant. It gets shut down.

[angelatc]

I've actually been throwing this idea around with some mechanic friends that are also racers.
May do it if we can scratch up some capital.

The first day a union in set up in my plant. It gets shut down.

Read up on, and learn from, John Delorean. Best to buy a couple books and not just skim Wikipedia.

[The_Orlonater]

Am I the only who see's this as fascism?
I mean, is Obama the majority stock holder?

No, it is.

[torchbearer]

Read up on, and learn from, John Delorean. Best to buy a couple books and not just skim Wikipedia.

Can you give me a summary of his works?