CEO Rick Wagoner asked to Resign by the Anointed One

[Jack C.]

Who's next?

[Mark W.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

Could you explain your statement?

[Clem Z.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

i bet the misreports programs are next to go. i think if you ever wanted a new corvette get it now because i don't think 190 MPH cars are in this administration future plans.

[Gary B.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

Here is a link

http://www.autoweek.com/article/20090329/CARNEWS/903299993

[Steven B.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

Everyone's ready to fry those at AIG and Citigroup. Wagoner's shown he's just as responsible in the downturn at GM as those who ran the financial industry into the ground. Maybe not the same way, but with the same results. When the government gives you money after you beg for your life, expect to get canned if you don't do the cost cutting and reorganization of the company that was expected. I don't know what the behind the scenes moves were, but new blood and new ideas are usually never a bad idea when a company goes under. I still love GM as the parent of Chevrolet and the creator of the Corvette, but he shouldn't still be in charge. Just my $.02 and not in any way a political statement. Your company is in the toilet, you're the CEO, you're gone, simple as that.

[Henry S.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

Everyone's ready to fry those at AIG and Citigroup. Wagoner's shown he's just as responsible in the downturn at GM as those who ran the financial industry into the ground. Maybe not the same way, but with the same results. When the government gives you money after you beg for your life, expect to get canned if you don't do the cost cutting and reorganization of the company that was expected. I don't know what the behind the scenes moves were, but new blood and new ideas are usually never a bad idea when a company goes under. I still love GM as the parent of Chevrolet and the creator of the Corvette, but he shouldn't still be in charge. Just my $.02 and not in any way a political statement. Your company is in the toilet, you're the CEO, you're gone, simple as that.

I agree. He should be gone.

[Steven B.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

General Motors CEO Rick Wagoner to quit, reports say


By AUTOMOTIVE NEWS

A picture of Media reports says General Motors CEO Rick Wagoner is about to resign. Media reports says General Motors CEO Rick Wagoner is about to resign.New car news, road tests, blogs, pix and expert insight section.

[Mark W.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

Perhaps its time for GM (and maybe Chrysler) to file Chp 11 and restructure the company and renegotiate contracts with the unions. I don't see the big 3 ever being competative with the current labor union contracts and the mindset of those labor unions and their backing by the Obama administration. Unless they change, the big 3 won't survive and then the unions won't have any laborors.

[Terry M.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

If they file for Chapter 11, do they not have to pay back the loans we gave them?

[Mark W.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

I'm not a lawyer, but I think if they filed Chp 11, the US govt (meaning you and me) would become just one more creditor with a claim and Chp 11 provides protection and allows restructuring of loans, etc.

[Terry M.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

That is sort of what I was afraid of Mark. This may become one of those "be careful of what you ask for" kinds of stories.

[Martin N.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

Steven-

I could'nt have said it any better or agree more!

Marty

[Duke W.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

One of the reasons I left IBM in 1991 was because the place was so inbreed I couldn't stand it anymore, and I knew it was headed down the tubes. (I was a "professional hire" at age 39 and stayed about six years.) You can rearrange deck chairs on the Titanic any way you want, but it won't change the final outcome.

After I left, the board got rid of CEO John Akers, an IBM lifer, and brought in Lou Gerstner from RJR Nabisco. Yeah, a tobacco executive to run a computer company, and he turned it around because he didn't have any preconceived notions of what IBM was or should be.

GM needs the same thing - fresh blood. Wasn't it Wagoner who did that absolutely brain-dead Fiat deal that gave the shareholders a haircut to the tune of $2 billion a few years ago? And he's still there!

Time to say bye-bye and get a CEO from the "outside" who can clean the place up with a viable business plan. Otherwise we could lose GM, and I don't have much faith that Wagoner and company will come up with the viable business plan that they are supposed to submit to Washington by Tuesday.

Really good executives can run any business, and in this particular case someone with a proven "turnaround" track record from the outside is what's needed.

Duke

[Clem Z.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

One of the reasons I left IBM in 1991 was because the place was so inbreed I couldn't stand it anymore, and I knew it was headed down the tubes. (I was a "professional hire" at age 39 and stayed about six years.) You can rearrange deck chairs on the Titanic any way you want, but it won't change the final outcome.

After I left, the board got rid of CEO John Akers, an IBM lifer, and brought in Lou Gerstner from RJR Nabisco. Yeah, a tobacco executive to run a computer company, and he turned it around because he didn't have any preconceived notions of what IBM was or should be.

GM needs the same thing - fresh blood. Wasn't it Wagoner who did that absolutely brain-dead Fiat deal that gave the shareholders a haircut to the tune of $2 billion a few years ago? And he's still there!

Time to say bye-bye and get a CEO from the "outside" who can clean the place up with a viable business plan. Otherwise we could lose GM, and I don't have much faith that Wagoner and company will come up with the viable business plan that they are supposed to submit to Washington on Tuesday.

Good executives can run any business, and in this particular case someone with a proven track record from the outside is what's needed.

Duke

they need to bring someone in from the outside so he does not have any "friends" to protect. look at ford

[Tom D.]

Re: CEO Rick Wagoner asked to Resign by the Anointed One

I saw "captured fleet" Camaro today, VIN number 215. Now this news and so I wonder how rare that car will become!

Tom