http://news.yahoo.com/s/ap/20090329/..._ge/gm_wagoner

http://www.cnbc.com/id/29946309

 

I was just about to post this. Beat me by a minute.

I really don't like this. The last thing GM needs is a new guy at the helm in GM's most dire of times. It's like replacing the captain of the Titanic while the ship is hitting the iceberg. It sounds like this may be a condition of government help.

B

 

The beginning of the end.

 

Or a fresh start....

 

So should we expect to read about a 20 million dollar severance package next? This cant be good. Who will take over?

 

If nothing else, it gives people the impression that GM's old ways are out and it signals the start of a new era for GM.

 

Things were getting to the point where it was hard for him to stay. I don't blame him independently for GM's current troubles but he has some fault. But I have no doubt that he was kindly asked by the White House to step aside.

The question is will be enough and what will the bondholders think of it.

 

It boils down to who gets the job. Hopefully it's a car guy and not some exec parachuted in from a totally different sector.

 

Bingo.

Wagoner should've been shown the door years ago, but his fellow silver-spoon, paste-eating cronies would never let it happen.

We can hope that we're going to get a guy who really loves cars, but it's much more likely we're going to either get an import-driving tree-hugger who wants to save the planet, or a slightly more responsible member of the billionaire boys club.

Still, I can, er . . . hope.

 

itll be interesting to see how the market reacts to this. im gonna guess positively

 

http://en.wikipedia.org/wiki/Frederick_Henderson

 

The White House confirmed they asked him to step down. Well, when you take money from the gov't it's a whole new ballgame.

 

You've got to be kidding me.

 

Socialism at its finest! Hopefully when GM goes bankrupt, the 2010 will be around $29k

 

I just read that on CNBC.com mobile. I can't say I'm surprised. I knew someone was going to have to take the fall for it all.