Rick Wagoneer Stepping Down at GM

70 copo · #1 03-30-2009, 01:16 AM

BAD Looks like the Government take-over of GM is all but certain now.

**TDW** · #2 03-30-2009, 02:38 AM

So, he is most likely going to hang out at the bar with ALL those Wall Street guys and ALL those bankers that had to step down too. You know, the guys that ran the Country into the ground and then got BAILOUT money, as opposed to the LOANS GM is getting. What a sad state of affairs we are in. (IF this is too political for the mods, no problem to can it.)

**gb70** · #3 03-30-2009, 03:59 AM

IMO there was a lot of pressure from the new administration to get him out, along with other demands, in exchange for more bail out $.

markinnaples · #4 03-30-2009, 05:19 AM

Oh yeah, GM made GREAT cars when the bean counters were in charge (1970's and 80's). Super move.

Bad Brad · #5 03-30-2009, 07:43 AM

You could take 50 people here on this board with less pat that could run GM better than Wagner could do.

**Tommy** · #6 03-30-2009, 09:52 AM

[ QUOTE ]
Looks like the Government take-over of GM is all but certain now.

[/ QUOTE ]

I believe you are correct

.....

Tommy

**427TJ** · #7 03-30-2009, 03:57 PM

He's probably using his nice golden parachute to soften the landing.

Hylton · #8 03-30-2009, 09:45 PM

[ QUOTE ]
He's probably using his nice golden parachute to soften the landing.

[/ QUOTE ]

$10 million a year for the past decade and he needs something to soften the landing? Geez....

MrsBillyBobcat · #9 03-30-2009, 10:11 PM

[ QUOTE ]
He's probably using his nice golden parachute to soften the landing.

[/ QUOTE ]

I heard he's not getting one.

From today's Detroit News:

"Wagoner, who had agreed to work for $1 a year, is barred from getting a golden parachute or a big severance package under the terms of the government's Troubled Asset Recovery Program."

1970Bluel78 · #10 03-30-2009, 10:36 PM

GM.....Government Motors.