Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Is this another step in the direction of socialist communism?
It seems that the White House is moving it's agenda forward another step toward the socialism of America. Will he change the spelling to Amerika next, or just make it the U.S.S.A.?
By TOM KRISHER and KEN THOMAS, Associated Press Writers Tom Krisher And Ken Thomas, Associated Press Writers – 19 mins ago
DETROIT – General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry.
The officials asked not to be identified because details of the restructuring plan have not yet been made public. On Monday, Obama is to announce plans to restructure GM and Chrysler LLC in exchange for additional government loans. The companies have been living on $17.4 billion in government aid and have requested $21.6 billion more.
Wagoner's departure indicates that more management changes may be part of the deal. Wagoner, 56, has repeatedly said he felt it was better for the company if he led it through the crisis, but he has faced sharp criticism on Capitol Hill for what many lawmakers regard as years of missteps, mistakes and arrogance by the Big Three automakers.
Wagoner joined GM in 1977, serving in several capacities in the U.S., Brazil and Europe. He became president and chief executive in 2000 and has served as chairman and CEO since May 2003.
Obama said Sunday that GM and Chrysler and all those with a stake in their survival need to take more hard steps to help the struggling automakers restructure for the future. In an interview with CBS' "Face the Nation" broadcast Sunday, Obama said the companies must do more to receive additional financial aid from the government.
"They're not there yet," he said.
A person familiar with Obama's plans said last week they would go deeper than what the Bush administration demanded when it approved the initial loans last year.
Wagoner, in an interview with The Associated Press in December, had declined to speculate on suggestions from some members of Congress that GM's leadership team should step down as part of any rescue package.
"I'm doing what I do because it adds a lot of value to the company," Wagoner said in a Dec. 4 interview as GM sought federal aid from the Bush administration. "It's not clear to me that experience in this industry should be viewed as a negative but I'm going to do what's right for the company and I'll do it in consultation with the (GM) board (of directors)."
Wagoner has been credited by auto industry analysts with doing more to restructure the giant, bureaucratic automaker than any other executive. But given that he has been at GM's helm for so long, many of his critics say he moved far too slowly to take on the United Auto Workers and shrink the company as its market share tumbled.
While GM has improved its cars in the last two years, critics say the company relied for too long on sales of pickup trucks and sport utility vehicles for its profits and was unprepared for a drastic market shift when gasoline prices hit $4 per gallon last year.
During the Congressional debate over whether to give GM and Chrysler loans last year, many lawmakers criticized Wagoner, including Sen. Chris Dodd, D-Conn., chairman of the Banking Committee.
He accused automakers' top management of having a "head-in-the-sand" approach to problems and said Wagoner "has to move on" as part of a government-run restructuring that should be a condition of financial life support for the auto industry.
___
Associated Press Writer Ken Thomas reported from Washington, D.C.
Nay sayers, I'll admit the CEO's should be out but show me one thing the government has done right in the last 100 years!
Doc, if the Fed starts running Detroit, the cars will cost ten times as much and they along with their owners will also have to pay income tax.
Levon, maybe the democrats need to change their mascot from a jackass to a pit bull.
Dr obama, there are two types of socialism and I said socialist communism which is the type the USSR was under. And one can be a communist without be political. This type is working for the betterment of the whole such as the Cherokee had before the Europeans arrived. You need to educate yourself in history of all peoples.
Queen, I couldn't agree more. If one of the little people needs help they are forced to jump through hoops and then they don't get enough.
This goes for our injured troops all too well. A lot of them can't get their medication but let the fat cats need a dollar and they give them a billion.
They are sharpening their axes and setting the block. Today CEO heads go and soon many more heads will roll. The guillotine would be faster but you know how radicals like to swing the blade.
The government can't control itself and some think this is a good thing. Retards with high IQ's are running the government, I mean ruining the government!
15 Answers
- Anonymous1 decade agoFavorite Answer
I believe it is a huge first of many steps.Unfortunately, there are those among us who can't see beyond their greed and desire to see those in a higher economic class punished.I don't agree with all the bonuses etc. but if we allow the govt. to take over just one segment of big business, then that opens the door for them to take over all business, and that my friend, is the beginning of the end.
- Anonymous1 decade ago
Wake up America, we are going to rely on Bureaucrats to run our
businesses, Now you can rationalize, Criticize, and philosophize
about why government under the Obama regime is the right thing
to do. But you will never draw aces on a inside straight to win the
hand or the pot. These are the same losers in government who want
control of these companies, that could perform the simple oversight
jobs they had. And now you want these socialist, communist aspirants
to run the operation. I don't think so. That would be as ludicrous as
inviting a wolf pack into the Hen house and saying ok guard the
chickens and leave for a week. The Federal Government has no
right in running this Nations businesses, Not at all. We are giving
giant pieces of our freedoms. in the Bull **** name of crisis.
Think and think hard what this is going to do to this Nations rights
and freedoms.
- L.T.M.Lv 71 decade ago
" General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House,"
Hell the First sentence was enough to convince me!
When will people learn that Nothing Is Free? What happens when you accept candy from a pervert..(government)? That's right, you get buggered!
This is exactly why we've been hollering STOP! Once government sinks their teeth in they aint letting go! Especially with a Marxist in the head office.
bluechri.. >How bout good old-fashioned Bankrupcy? It has worked several times for the airlines! You and I both know this is all politics. The union bosses are gonna get their share or heads will roll come election time. You can count on that!
- Anonymous1 decade ago
The government has no business taking over the auto industry. The government can't even get their own selves out of debt. Our country will soon be renamed U.S.S.A or maybe just "O".
This is one example for sure of socialism at its finest.
I say let them auto companies fail, new ones will develop or the old ones will restructure that's why we have a thing called bankruptcy.
Source(s): Disabled American Veteran - How do you think about the answers? You can sign in to vote the answer.
- Dr AwkwardLv 61 decade ago
Maybe the Fed'll start running Detroit next...we can all drive Hummers then. Oil co's should love that.
No bail outs or loans to anyone. If they can't make it f*ck'em. Fire all the bureaucrats...shut down the welfare system, kickout the illegals, impose term limits and NO pay for politicians and re-elect everyone based on that and their competence, honesty and integrity.
It's time for a revolution...just say NO. Quit sending your money to Washington. We need an across the board tax revolt.
Gotta have your own guns for that though don't you?
Stupid*** liberal bastards.
Exactly O/f...they can't run jack w/out screwing it up. If we could just keep the purse strings in a knot. Better yet...take the purse away completely for awhile.
- 1 decade ago
I think Wagoner will be the first 'chip' of MANY Tim Geithner deems too irresponsible to run the local hardware store.
It's frightening that Turbo Tim and a foreigner are going to be firing Americans. Which White House is this? Not the one I knew...
- AngelaTCLv 61 decade ago
Yes. And a bit of irony from your article:
"...Waggoner) has faced sharp criticism on Capitol Hill for what many lawmakers regard as years of missteps, mistakes and arrogance by the Big Three automakers."
We are so screwed.
- julie mLv 41 decade ago
raised gas prices because of wars, spills, etc. then the automakers lose out because our gov't allows gas prices to skyrocket. now cigarette taxes are increasing how many will this effect when we quit or find better bargains elsewhere. this nation is going to h-ll in a hand basket and no-one is trying to stop it.
- Anonymous1 decade ago
NO . But if any industry including Banks want Welfare from the government then this control comes with the territory . As it does with individuals who ask for help from the Government because they NEED to .
- JaniLv 51 decade ago
Looks like the USA has just bought a Chevy and a Chrysler, and as usual, at overblown prices.