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GM CEO stepping down

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Old Mar 29, 2009 | 03:12 PM
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Default GM CEO stepping down

http://jalopnik.com/5189532/rick-wagoner-t...-obamas-request

wonder what effect this will have? Also interesting that Obama requested it.

Discuss.
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Old Mar 29, 2009 | 03:19 PM
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Since I don't know jack about Fritz I can't tell if its a better or worse thing.

I have been a proponent of getting all execs out of the big three that are 55 years old or older and grew up in the US. They all dream about their youth and the fifties cars, 60's and 70's muscle cars and big old farm pickem up trucks.

I have never seen a big three exec I thought was a forward thinking futurist. That kind of thinking tends to be pretty standard at Honda, but is non-existent in the big three. Soon to be the "Not So Big 2" or "The Last 1".

I get that GM was making money hand over fist with its trucks and SUV's, but they had to be dragged away from them kicking and screaming like a three year old when gas was hitting $3, then $3.50, then $4. There was no backup plan.

The Malibu and the CTS are nice mainstream cars in their segments, but it might be too little too late.
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Old Mar 29, 2009 | 03:19 PM
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I'm confusing this guy with Bob Lutz. I suspect Lutz would've gotten hit with walking papers too if he wasnt retiring the end of this year.
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Old Mar 29, 2009 | 03:27 PM
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Originally Posted by jackalope,Mar 29 2009, 05:12 PM

Discuss.
To be honest, I think its looong overdue.
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Old Mar 29, 2009 | 05:45 PM
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Pretty scary when the gov decides who will be in charge of public companies, especially when .GOV has absolutely no experience running large corporations and lots of experience ****ing things up.
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Old Mar 29, 2009 | 05:50 PM
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change was/is needed
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Old Mar 29, 2009 | 06:00 PM
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Originally Posted by C6400hp,Mar 29 2009, 05:45 PM
Pretty scary when the gov decides who will be in charge of public companies, especially when .GOV has absolutely no experience running large corporations and lots of experience ****ing things up.
It is scary, but the current CFO is taking his spot, which was already set in motion. Another scary part is that no one else in GM fought to have the captain step off the failing ship all these years.
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Old Mar 29, 2009 | 06:20 PM
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Well when it
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Old Mar 29, 2009 | 06:47 PM
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Originally Posted by C6400hp,Mar 29 2009, 07:45 PM
Pretty scary when the gov decides who will be in charge of public companies, especially when .GOV has absolutely no experience running large corporations and lots of experience ****ing things up.
Maybe they can have the same success with GM as they have with Amtrack or the Post Office.
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Old Mar 29, 2009 | 06:49 PM
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Originally Posted by C6400hp,Mar 30 2009, 01:45 AM
...especially when .GOV has absolutely no experience running large corporations and lots of experience ****ing things up.
I can see why our government gets along great with GM... well, if things go south, we can just print a bunch more money and give them a big cardboard publishers clearinghouse style check for 1 billion dollars
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