CEO of General Motors Fired ! [Archive]

ATVsToday.net

03-30-2009, 10:50 PM

Today the President fired the CEO of General Motors ? How can this be ? The Government can now fire a private sector employee ? Oh My God !!! Are we in trouble or what. Better watch out, that means he can fire YOU ! I am still reeling from this. This man is a dictator. What would happen if Polaris got in trouble ? Could the CEO be fired by the President, and then the company operated by the government ? That would spell the END of ATVs and OHVs all together. This mad man has gone to far to fast and must be stopped, or this country and this sport are DOOMED. God help us.

FreekShow

03-30-2009, 11:30 PM

well actually he resigned, he wasnt fired. obama asked him to step down and he did.

ATVsToday.net

03-31-2009, 12:24 AM

Right, same thing. This has never been done before and should never happen.

hypersnyper6947

03-31-2009, 12:54 AM

yea but he should have been fired obviously, if GM is failing that bad and ford a close competitor can be fine and not ask for government assistance obviously there is a problem,

IMO they should be paid a percentage of sales, not just some astronomical salary for no reason regardless of what sales are. That way they strive to better the company not just go home fat and happy no matter what.

Quad18star

03-31-2009, 06:42 AM

He stepped down from his position... and in all reality it was a good decision. The government has given billions in bailout which should have been enough , but the greedy top dogs want more more more. If you can't get the books straight after the first round of money , then you really aren't fit to be running a company..... and you really don't deserve to be making millions in salary and bonus.

For the consumer though , good news from the Government stating that waranties will be covered ... which has held off a lot of folks from buying. But then again , the fact that you're buying a gas guzzling truck at an outrageous pirce , that then loses half it's value as soon as you drive it off the lot doesn't help either.

In my opinion , the problem with GM is too big of a lineup of vehicles. Get rid of some models that don't sell or that sell very little. Get rid of the models that are the same except for the front grill ( ie Yukon and Tahoe , Silverado and Sierra) and only keep one line up.

JJs450r

03-31-2009, 07:16 AM

Originally posted by hypersnyper6947
yea but he should have been fired obviously, if GM is failing that bad and ford a close competitor can be fine and not ask for government assistance obviously there is a problem,

IMO they should be paid a percentage of sales, not just some astronomical salary for no reason regardless of what sales are. That way they strive to better the company not just go home fat and happy no matter what.

you speak the truth good and simply

scuzz

03-31-2009, 07:38 AM

ben300

03-31-2009, 07:39 AM

Originally posted by Quad18star
He stepped down from his position... and in all reality it was a good decision. The government has given billions in bailout which should have been enough , but the greedy top dogs want more more more. If you can't get the books straight after the first round of money , then you really aren't fit to be running a company..... and you really don't deserve to be making millions in salary and bonus.

For the consumer though , good news from the Government stating that waranties will be covered ... which has held off a lot of folks from buying. But then again , the fact that you're buying a gas guzzling truck at an outrageous pirce , that then loses half it's value as soon as you drive it off the lot doesn't help either.

In my opinion , the problem with GM is too big of a lineup of vehicles. Get rid of some models that don't sell or that sell very little. Get rid of the models that are the same except for the front grill ( ie Yukon and Tahoe , Silverado and Sierra) and only keep one line up.

it is true that they may have a too big of a line up of vehicles, but this is not rick wagners fault. sure its easy to blame this on the ceo of the company, which in right, probably had some to do wiht this, but there are two big huge contributing factors that are leading to the down fall of chrysler llc. and general motors.

Both of these company's operate under huge restaints in that an enormous ammount of money from each vehicle sold goes towards the pay and pension of the current workers, workers that have taken the buy out deals over the past several years, and workes that have retired. This ammount of money, compaired to the same pay into pensions of other industries is rediculous. if you look at these costs vs. the same cost for companies such as toyota or honda, there is a drastic difference...

then when you combine this with slumped us auto sales over the past decade....you run into a huge ammount of debt..

you simply cannot continue to have drastic decreasing revenues, and still pay teh same out...and the problem is that these companies have gotten themselves so far inbed with these unions, that they cant getout without bankruptcy..

now im not saying unions are all bad...because they definitally are not, there are many benefits from being ina union, but unfortunately, this union is hurting adn industry adn an economy. and also unfortunately, the curent white house nor any in teh future will go after the union, cause that may potentially cost them millions of votes in the future...

i for one...im definialy in favor of restructured, more realistic deals, not only with the companies, but with there REDICULOUS union contracts...

scuzz

03-31-2009, 07:54 AM

^^^^

Exactly - hence them going into a "structured" bankruptcy. This would save them from themselves and some of the contracts that they have with dealers where GM is killing it's own market share by having the same body/engine like on the escalade/Denali/Suburban or as an even greater example, the trailblazer/envoy/Saab 9-7x I mean c'mon how many different "brands" do they need for the same platform? Now these are all deals from way back when GM was strong and they are contractually obligated to the franchisee dealers unless...you got it...they go into bankruptcy.

coryatver

03-31-2009, 07:57 AM

Did anyone see he is getting 20 million bucks

How to be successful in america:

1.Drive a company into the ground

2.Get the goverment to give you billons

3.Give yourself millions of dollars then get the heck out of there before it all goes to crap

The president of the united states just fired someone! WOW I thought this was america????

ben300

03-31-2009, 08:05 AM

Originally posted by scuzz
^^^^

Exactly - hence them going into a "structured" bankruptcy. This would save them from themselves and some of the contracts that they have with dealers where GM is killing it's own market share by having the same body/engine like on the escalade/Denali/Suburban or as an even greater example, the trailblazer/envoy/Saab 9-7x I mean c'mon how many different "brands" do they need for the same platform? Now these are all deals from way back when GM was strong and they are contractually obligated to the franchisee dealers unless...you got it...they go into bankruptcy.

well i know that GM Lordstown renagotiated a short while back, and now they are down to just one shift, and bairly hanging on...and they only produce the cobalt, and soon the volt ( whcih may never happen)..

Ralph

03-31-2009, 08:11 AM

Originally posted by coryatver
Did anyone see he is getting 20 million bucks

How to be successful in america:

1.Drive a company into the ground

2.Get the goverment to give you billons

3.Give yourself millions of dollars then get the heck out of there before it all goes to crap

The president of the united states just fired someone! WOW I thought this was america????

He has been working at GM for something like 37 years. The 20 million is in pensions and stuff. Aside from his performance he deserves his pension/retirement/severance package.

I also agree, he didn't get fired.

scuzz

03-31-2009, 08:19 AM

Originally posted by ben300
well i know that GM Lordstown renagotiated a short while back, and now they are down to just one shift, and bairly hanging on...and they only produce the cobalt, and soon the volt ( whcih may never happen)..

You mean the cobalt/G6? :P

ben300

03-31-2009, 08:23 AM

Originally posted by scuzz
You mean the cobalt/G6? :P

same difference yo:chinese:

ben300

03-31-2009, 08:27 AM

Originally posted by ATVsToday.net
Today the President fired the CEO of General Motors ? How can this be ? The Government can now fire a private sector employee ? Oh My God !!! Are we in trouble or what. Better watch out, that means he can fire YOU ! I am still reeling from this. This man is a dictator. What would happen if Polaris got in trouble ? Could the CEO be fired by the President, and then the company operated by the government ? That would spell the END of ATVs and OHVs all together. This mad man has gone to far to fast and must be stopped, or this country and this sport are DOOMED. God help us.

i also, absolutely do not agree with government stepping in and running a large corporation or company like GM...i under stand that the government has to have some basic control and regulation over companies to prevent monopolies and such, but GM and chrysler asked for this involvement themselves by going and asking for billions of dollars, which they should not have recieved to begin with...

prime example why dumping all this money into bad business isn't successfully working....

coryatver

03-31-2009, 09:02 AM

Originally posted by Ralph
He has been working at GM for something like 37 years. The 20 million is in pensions and stuff. Aside from his performance he deserves his pension/retirement/severance package.

I also agree, he didn't get fired.

wow he has been working there for 37 years! So maybe he has something to do with why the company is failing horribly? I don't care how long he worked there he does not deserve 20 million dollars when he is quiting from a bankrupt company he was the leader of especially since it is OUR money!

You are right he didn't get "fired" but when you have a job like that you don't get "fired" they tell you that you have to "resign" it is the same exact thing.

spanky101

03-31-2009, 10:07 AM

Originally posted by scuzz
You mean the cobalt/G6? :P

actually its the cobalt/g5 :blah: But lordstown is right down the road from me by about 15 minutes and this community will be a ghost town if lordstown was to go under. There is businesses but a good amount of workers are lordstown/gm employees.

extremeblastr

03-31-2009, 10:23 AM

Quad18star

03-31-2009, 10:27 AM

Originally posted by ben300
i also, absolutely do not agree with government stepping in and running a large corporation or company like GM...i under stand that the government has to have some basic control and regulation over companies to prevent monopolies and such, but GM and chrysler asked for this involvement themselves by going and asking for billions of dollars, which they should not have recieved to begin with...

prime example why dumping all this money into bad business isn't successfully working....

What I think your government is doing , is trying to prevent the spin off effects of what will happen if GM and Chrysler close their doors.

The government could probably handle a layoff of a few thousand guys from the 2 auto makers , but they would not be able to swallow the fact that the spin off jobs created by the automakers probably makes up 10:1 and all those people would be looking for work.

Closing the doors on GM and Chrysler would turn some cities and towns into Ghost towns overnight. It's not just the parts suppliers that would hurt , but also the mom and pop businesses , local grocery stores .. those kinds of places. When the towns population mostly works at these places , and the jobs are gone , the "little guy" suffers.

If you want to see the effects , you can check out some of the towns in Southern Ontario where GM and Chrysler have closed their doors ... where 7 000 people have lost their jobs in a town population of 15 000. These places became pretty much ghost towns.

Ralph

03-31-2009, 10:57 AM

Originally posted by coryatver
wow he has been working there for 37 years! So maybe he has something to do with why the company is failing horribly? I don't care how long he worked there he does not deserve 20 million dollars when he is quiting from a bankrupt company he was the leader of especially since it is OUR money!

You are right he didn't get "fired" but when you have a job like that you don't get "fired" they tell you that you have to "resign" it is the same exact thing.

Lol, to each their own.

I know that if i work a job and under my contract i'm entitled to deferred comp and pension and other post retirement benefits then when i resign i want that. Contracts are contracts. No one has the right to take that from him.

"If GM is forced into bankruptcy, Wagoner could get much less, according to Dave Schmidt, an executive compensation analyst with James F. Reda and Associates. Less than $1 million of Wagoner's total $20.2 million pension package appears to be guaranteed if GM goes bankrupt, Schmidt said. Even if GM is to avoid bankruptcy, Wagoner may need to negotiate with the company's board to access all or part of the money in his pension fund. "

I just don't know what people want.

If the gov didn't bail out these auto companies and the thousands of people working for them lost their jobs then the gov gets crap for it.

If the gov does then they also get crap for it.

So the gov. bails out the companies and they companies spend their money very poorly and everyone pissed. Think AIG Bonuses. So the gov steps in and stops the bonuses and then people whine that the gov shouldn't step in and "run" companies.

Same thing with this CEO. He wasting tons of money so the gov steps in before it gives GM any more. But then again someone finds the time to whine about that as well.

I say get his *** out of there, give him his 20 million which he wont even get if the company doesn't survive.

reptikes

03-31-2009, 11:09 AM

Originally posted by Quad18star
What I think your government is doing , is trying to prevent the spin off effects of what will happen if GM and Chrysler close their doors.

The government could probably handle a layoff of a few thousand guys from the 2 auto makers , but they would not be able to swallow the fact that the spin off jobs created by the automakers probably makes up 10:1 and all those people would be looking for work.

Closing the doors on GM and Chrysler would turn some cities and towns into Ghost towns overnight. It's not just the parts suppliers that would hurt , but also the mom and pop businesses , local grocery stores .. those kinds of places. When the towns population mostly works at these places , and the jobs are gone , the "little guy" suffers.

If you want to see the effects , you can check out some of the towns in Southern Ontario where GM and Chrysler have closed their doors ... where 7 000 people have lost their jobs in a town population of 15 000. These places became pretty much ghost towns.

I think you have something there, but all we are doing is delaying thee inevitable. There is NO guarantee that any of this bail out will work. So after dumping all these BILLIONS of dollars into these companys (furthering our problems) we still come around to lots of people lossing jobs, bigger national debt, ect. Its the same thing as going to a Casino and placing an 8 BILLION dollar bet and rolling the dice!:eek2:

scuzz

03-31-2009, 11:22 AM

Originally posted by reptikes
Its the same thing as going to a Casino and placing an 8 BILLION dollar bet and rolling the dice!:eek2:

That's oversimplification and an exaggeration on a massive scale.

Quad18star

03-31-2009, 11:33 AM

Originally posted by reptikes
I think you have something there, but all we are doing is delaying thee inevitable. There is NO guarantee that any of this bail out will work. So after dumping all these BILLIONS of dollars into these companys (furthering our problems) we still come around to lots of people lossing jobs, bigger national debt, ect. Its the same thing as going to a Casino and placing an 8 BILLION dollar bet and rolling the dice!:eek2:

It may be delaying it, but it's giving the opportunity to some of these companies to try and restructure and turn a profit and for the most part everyone wants these companies to succeed including the head hunchos.

I think most people would be surprised if they knew exactly how much a bankruptcy from these major players would affect them. Many smaller companies buy shares into the larger corporations in order to finance their pension plans and to finance things such as R&D and so on. So in short ... if the company you work for offers a pension or uses share money to finance something to help their company move forward , then these large corporations fold up ... guess who suffers greatly .. you the worker because you're either going to lsoe that pension or lose your job.

I know most people don't like film maker Micheal Moore , but before Christmas he has a great interview on CNN with Larry King . He talked about the governments role in this whole thing and how if they are giving the money they should have a say in what is produced and how the money is spent. I'm sure if you google it or look it up on YouTube it's there ... and like the guy or not , you'll agree with his perspective on how things should be handled using tax payers money.

Ralph I agree with what you say. We're seeing it on this side of the border also . The government gives money to save jobs , people whine that they should be bailign out . The Government doesn't give money , people whine and say they lost their jobs and it's the governments fault.

ben300

03-31-2009, 11:34 AM

Originally posted by Quad18star
What I think your government is doing , is trying to prevent the spin off effects of what will happen if GM and Chrysler close their doors.

The government could probably handle a layoff of a few thousand guys from the 2 auto makers , but they would not be able to swallow the fact that the spin off jobs created by the automakers probably makes up 10:1 and all those people would be looking for work.

Closing the doors on GM and Chrysler would turn some cities and towns into Ghost towns overnight. It's not just the parts suppliers that would hurt , but also the mom and pop businesses , local grocery stores .. those kinds of places. When the towns population mostly works at these places , and the jobs are gone , the "little guy" suffers.

If you want to see the effects , you can check out some of the towns in Southern Ontario where GM and Chrysler have closed their doors ... where 7 000 people have lost their jobs in a town population of 15 000. These places became pretty much ghost towns.

the problem is like you said that we could not easily loose all the jobs, but in reality, we have already lost thousands upon thousands of jobs, like GM lordstown, who was working with thousands more employees a few years ago, over three shifts a week. so basically, a company like this needs to file for bankruptcy and resrtucture from the top down, that includes removng bad eggs, and re-negotiating contracts if need be....

the insane ammount of money that that these companies pay out to people is just driving them into th ground...especially right now

SRH

03-31-2009, 07:07 PM

well if gm failed it would hurt the economy even worse, so the boss stepped in said ok kids enough fun, look at this mess you made

these ceo's dont care they treat there company like a sinking ship, and theyll rob and steal whatever they can with no worry for anyone else

i dont think you guys understand the govt can pretty much do w/e they like when it comes down to it, its not just obama

ridered11

03-31-2009, 07:16 PM

Originally posted by SRH

i dont think you guys understand the govt can pretty much do w/e they like when it comes down to it, its not just obama

Hah thats the whole point. The fact that our president has now stepped in and forced a CEO to resign, the fundamentals of our market based (private ownership) economy have been violated. I fear socialism.

Premis

03-31-2009, 07:26 PM

The government should have never gotten involved with GM, Chrysler, AIG, etc... LET THEM FAIL!!!! Failure is a part of success!!

they need to leave GM alone and let them file bankruptcy, then they can get rid of the ridiculous union contracts and other inflated expenses and begin to rebuild

Everyone wants to blame the GM CEO Wagner, what about Gettlefinger (UAW President) he has just as much or more power over GM and his group is causing the hemorrhaging.

Government regulation deserves a large portion of the blame too.

THE GOVERNMENT HAS NO PLACE IN PRIVATE BUSINESS. NONE. PERIOD. END OF %$!?& STORY!!!!!

http://worshippingchristian.org/images/dont_tread_on_me.jpg

JForestZ34

03-31-2009, 07:48 PM

I'm sure when this went down washington told GM that they would not get any government help any longer as long as wagner is still there..

I know the pay is just running wild when it comes to labor unions and stuff but the one thing that I think would help people buy car's is LOWER THE DAM PRICE....

I don't know how easy that is but come on, I would love to get a nice chevy pick-up but when some of them are costing $42k it turns people the other way... No drop that price down to 26k or 27k now were talking....:D

James

ridered11

03-31-2009, 07:53 PM

Glad we are on the same page Premis.

http://firstfriday.files.wordpress.com/2008/03/obama-socialist.jpg

reptikes

03-31-2009, 07:58 PM

Originally posted by Premis
The government should have never gotten involved with GM, Chrysler, AIG, etc... LET THEM FAIL!!!! Failure is a part of success!!

they need to leave GM alone and let them file bankruptcy, then they can get rid of the ridiculous union contracts and other inflated expenses and begin to rebuild

Everyone wants to blame the GM CEO Wagner, what about Gettlefinger (UAW President) he has just as much or more power over GM and his group is causing the hemorrhaging.

Government regulation deserves a large portion of the blame too.

THE GOVERNMENT HAS NO PLACE IN PRIVATE BUSINESS. NONE. PERIOD. END OF %$!?& STORY!!!!!

http://worshippingchristian.org/images/dont_tread_on_me.jpg

I don't know what rock you've been sleeping under, but they asked for help from the goverment. The goverment didn't jump in where they weren't wanted.

The whole (Failure is a part of success) you heard that alot growing up?

ben300

03-31-2009, 08:03 PM

Originally posted by JForestZ34
I'm sure when this went down washington told GM that they would not get any government help any longer as long as wagner is still there..

I know the pay is just running wild when it comes to labor unions and stuff but the one thing that I think would help people buy car's is LOWER THE DAM PRICE....

I don't know how easy that is but come on, I would love to get a nice chevy pick-up but when some of them are costing $42k it turns people the other way... No drop that price down to 26k or 27k now were talking....:D

James

ok...lowe the price...so if they are having probolems, gettting out of debt wtih teh vehicles, adn hte way they are priced now, what m makes you think lowerig the price willl help, when they are still in a a relationship with those horrible union contracts that are just but ****ing them right in the poop shoot to begin with...

and premis..i completely agree, and as far as im concerned...gettlefinger or how ever you spell his name, shoudld be reliquished from his job like wagner, and tried for crimes against humanity...

i remember watching hte big news confrence on fox business and cnn, the first time the auto maker ceo's went to congress begging for money....he was right here with them...begging just as har...but like i said before.....the government aint gonna do nothing to the union, because that could potentially cost b-raq o'jama millions upon millions of votes in his next election.

Quad18star

03-31-2009, 08:04 PM

Originally posted by Premis
[B]The government should have never gotten involved with GM, Chrysler, AIG, etc... LET THEM FAIL!!!! Failure is a part of success!!

they need to leave GM alone and let them file bankruptcy, then they can get rid of the ridiculous union contracts and other inflated expenses and begin to rebuild

Let them fail and go bankrupt , but where do you think all these jobs are going to end up? They sure as hell aren't going to resume business in North America ... they just pack up and go overseas. They'll go to countries where they'll work you for 23 hours straight, tell you when you can take a piss and if you lose a finger or your life , well who cares , you're just disposable anyways since there's another 8 million people in line to take that job.

Chrysler has already threatened up here in Canada , that if they don't get the money they want , that if the union workers don't agree to lower wages ( downsized by almost 70%) , that they will just pack up and leave , putting tens of thousands out of work. The company is holding the workers hostage ( you either take a huge pay cut or you lose your job) and the workers are holding the Government's feet to the fire saying it cannot afford to lose all these jobs and have families go hungry.

With this recession right now , in order to keep the most food on most families tables the governments need to prioritize who they let fail and who they help out. And I think that's exactly what they're doing.

ben300

03-31-2009, 08:05 PM

Originally posted by reptikes
I don't know what rock you've been sleeping under, but they asked for help from the goverment. The goverment didn't jump in where they weren't wanted.

The whole (Failure is a part of success) you heard that alot growing up?

no but letting bad businesses fail and letting stronger ones take there place is idealist capitalism....

...unfortunately...we'ere pretty socialist right now

ben300

03-31-2009, 08:13 PM

Originally posted by Quad18star
Let them fail and go bankrupt , but where do you think all these jobs are going to end up? They sure as hell aren't going to resume business in North America ... they just pack up and go overseas. They'll go to countries where they'll work you for 23 hours straight, tell you when you can take a piss and if you lose a finger or your life , well who cares , you're just disposable anyways since there's another 8 million people in line to take that job.

Chrysler has already threatened up here in Canada , that if they don't get the money they want , that if the union workers don't agree to lower wages ( downsized by almost 70%) , that they will just pack up and leave , putting tens of thousands out of work. The company is holding the workers hostage ( you either take a huge pay cut or you lose your job) and the workers are holding the Government's feet to the fire saying it cannot afford to lose all these jobs and have families go hungry.

With this recession right now , in order to keep the most food on most families tables the governments need to prioritize who they let fail and who they help out. And I think that's exactly what they're doing.

i completely agree that these companies cannot fail, cause that wold potentially cause a ripple effect that wouuld potentially destroy the entire world economy, but its not like tehse union workers are working for $10/hr....... they interview ppl down here in the states all the time o the news that both providers in a house hold work for an automaker as a plant worker adn have a $500k house adn a vacation house ina ski town some place...

i cant quote this or find a linke at the moment causei choose not to look while watching tv, but i remember hearing that its some thing liek in excess of $2500 from each general motors car sold goes to teh pensions of the people who took buy outs or have retired in teh past severl years...thats not including the money that they pay toward pensions, benefits, adn salary of current company employees......these companies cannot not simply sit and allow thsi to continue..

now by all means, these companies can not cut these people of their pension adn there bennefits, cause thats happend to to many ppl now adn before with eth collapse of the steel industry and such, but thee companies cannot continue to operate ina even a BREAK EVEN financial manner when they have to pay all of this ****..they are gonna have to renegotiate some of these deals or they may have to eventually suffer the ultimate consequence