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White House tells GMs' CEO to step down

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  • White House tells GMs' CEO to step down

    http://www.forbes.com/feeds/reuters/...TAKEALOOK.html

    Is this right?

    OK, so they're getting Obama Bucks (my name for bailout money), so is AIG and a host of other companies. The WH has demanded that GM and Chrysler renegotiate their contracts with the UAW and their suppliers if they want any Obama Bucks. The WH claims that the top brass must go because they have not been responsive enough to changes needed to keep their companies healthy and in the black. But forcing employees to take serious pay cuts and suppliers to accept reduced prices for their goods seems to me to be pushing the heartache on to the little guy as well as making him pay for it (the Obama Bucks are coming from somewhere, and its OUR pockets as you are no doubt aware).

    Maybe the WH should just let all these companies fail, and someone will come and buy them up for pennies on the dollar. Thats what nature does, it recycles everything. When that beautiful flower dies it goes into the ground to become tomorrows tree or blade of grass. When a deer gets hit by a car it becomes a meal for countless creatures from the vulture to the maggot. Maybe that's what should be allowed to happen to AIG, GM et all.

    BUT....if you are going to let one tree fall then you have to stand by and watch them all fall. You can't cherry pick those that you feel are 'deserving' of our help, because they are all deserving, but to keep propping these companies up is not the way capitalism is supposed to work.

    Let them die, they will be reborn again.
    Last edited by Bob D.; 03-29-2009, 10:17 PM.
    ---------------
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  • #2
    Re: White House tells GMs' CEO to step down

    The time to let them fail has come and gone. Advisors to former President Bush started this whole mess when they convinced him aig could not be allowed to fail. Obama is following the lead and at this point our government seems too involved in these businesses, but I assume the government is trying to protect it's (our) investment? A mess for sure and most likely a failed experiment.I hate when President Obama says manufacturing jobs we have lost to the third world cannot and will not come back here. Why not? Yes, the slave labor can do it cheaper and the companies can have unsafe conditions and pollute without fear of government intervention, but that does not mean we as consumers have to buy their goods. Those manufacturing jobs once supported workers who bought homes, cars and sent children to college. Our legislators did not anticipate any of these many problems and now we think they can turn things around? God help us. In my opinion we cannot continue to be the consumers of the worlds goods and have a thriving economy with such a trade deficit. Our American dollars keep being exported and do not return.

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    • #3
      Re: White House tells GMs' CEO to step down

      It is a real problem when government starts picking winners and losers.

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      • #4
        Re: White House tells GMs' CEO to step down

        i feel like we all are in a canoe with a 1/4" hole in it. it is sinking, but at what rate will it go under???
        9/11/01, never forget.

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        • #5
          Re: White House tells GMs' CEO to step down

          I agree that this is all wrong - on several levels and for several reasons. This sort of 'extortion' has been going on for quite some time, though. If a state does not comply with federal guidelinies, road budgets, school budgets, etc are cut. The current redistribution of wealth (not that I have wealth) is alarming and disquieting. The government can't even balance its own budget - it certainly has no right to dictate business principals to others. Have you noticed that the top decision makers in all of this have absolutely no prior business experience in the private sector?

          We are enlarging the size of our garden this year - and we'll be raising a few more Guinea fowl for more eggs and meat in the fall. I fear the worst is yet to come. Oh well...
          Measure TWICE - Cut ONCE! 'Cause the Lumber Stretcher is broken!
          I'd throw more things away, but I'm afraid someone might want them...
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