Comments on: GM board in favor of Wagoner despite second quarter losses

By: AmericanIdiot

AmericanIdiot — Wed, 06 Aug 2008 21:30:01 +0000

This situation reminds me of something….what was it now…if I could only remember

oh yea..

4 more years!!
4 more years!!!

…laughtastic.

By: xyunya

xyunya — Wed, 06 Aug 2008 19:52:34 +0000

Very true, t-ak-box. If we would, we would not read this post and GM would be in a better shape.

By: t-ak-box

t-ak-box — Wed, 06 Aug 2008 18:06:32 +0000

To bad we don’t have the same Integrity factors as in other countries. In some countries if CEO is ruin a company that person would be shamed out of position but not in the good ole’ US. A Fail CEO gets to go on and ruin the company some more; maybe add in some lackey buddies. Good for Wagoner, Good for Japanese and European Automakers, Bad for GM Workers, Bad for US economy.

By: 400horseSS

400horseSS — Wed, 06 Aug 2008 17:32:34 +0000

Close 3 here build 3 in some 3rd world country.

By: 400horseSS

400horseSS — Wed, 06 Aug 2008 17:31:34 +0000

Good thats great, they all support him, we at locals across the US do not, how about investing $$ in plants here instead of building plants in a rainforest in Guadamala.

By: xyunya

xyunya — Wed, 06 Aug 2008 14:03:08 +0000

johnnycanuck, boards are comprised of people hand picked by CEO. F451 nailed it pretty much right.
First board members elected Wagoner. Those who were opposed initially (if they existed) were quietly let go in consequential elections. Just 2 years ago Kerkorian was engineering merger with Renault/Nissan expecting Ghosn to stimulate and shake sleeping giant. Of course I am playing Monday night quarterback, but the merger would strengthen GM hand: access to Nissan technology of ringing profit out of small efficient cars. Wagoner showed great craftsmanship by avoiding merger, splitting the board and ejecting York (Kerkorian’s lackey) from the board. It was the same Wagoner who paid FIAT 2 billion not to buy the company outright. FIAT is doing well – they are planing re-entry into US market and selling their superior small diesel technology to BMW and Ford in Europe. How many failures will it take for board to react? At this point it never will.

By: carstuff

carstuff — Wed, 06 Aug 2008 13:58:15 +0000

1. Get elected to the GM board
2. Select an incompetent for the CEO
3. Short-sell GM stock
4. Profit!!!

5. go to jail.

By: Fletch

Fletch — Wed, 06 Aug 2008 12:05:54 +0000

If they are able to nail this new 1.4L turbo 4cyl, that would be a good move. Sounds like the Cruise small car is going to be expensive though, not good.

By: F451

F451 — Wed, 06 Aug 2008 04:00:08 +0000

If GM’s future is contingent the Volt, as well as the safe employ of GM’s top execs, then GM may as well call it quits today.

By: johnnycanuck

johnnycanuck — Wed, 06 Aug 2008 02:24:23 +0000

Boards are usually not comprised of stupid people or those who panic. Everything hinges on the Volt and, like it or not, until it makes its debut they’re all safe.

By: global_lightning

global_lightning — Wed, 06 Aug 2008 00:06:31 +0000

1. Get elected to the GM board
2. Select an incompetent for the CEO
3. Short-sell GM stock
4. Profit!!!

By: F451

F451 — Tue, 05 Aug 2008 23:48:19 +0000

I agree it is a joke, but the board does not want to upset that which is already upside-down through showing a lack of confidence vote and removing Wagoner at his time as the financial markets would drop GM’s stock value lower than it already is. The problem is that the financial community commonly overlooks (as they are a narcissistic bunch) the fact that it is the consumer who has a lack of confidence with GM these days. Most consumers are looking at the executive management of GM and wondering how they lasted this long as most would have been fired eons ago. Wagoner, Lutz, and the other highest paid and perked at GM, have clearly demonstrated that they do not have what it takes or GM would not be in the position it is today. I would not miss nary a one of these bastards if they were let-go in the next hour.

By: ktulu

ktulu — Tue, 05 Aug 2008 23:29:47 +0000

this is a joke. the boards R always patting eac b ither on the back. Scratching each others backsm as they all isit inb 1 anothers compensatytion committees.

By: megeebee

megeebee — Tue, 05 Aug 2008 22:48:24 +0000

I wish my bosses were as understanding and supportive….

By: howsmydriving

howsmydriving — Tue, 05 Aug 2008 22:18:22 +0000

What a great Camaro story. You just have to know how to read the code.