~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I am curious WHY Wagoner was shown the door....other than Billions was Lost on His Watch...BUT and WHY the Auto Industry is being treated so "firmly" and yet the Wall Street Banker club is well, treated "differently".....This I do know it sends a questionable message to Unions, Workers and even Retirees....And on another level it is not just about Michigan, the Auto Industry effects One in Ten American Workers.....In the Whole Country.
On another level...I keep thinking WHY was Wagoner given the Door ? Did he line his pockets ? Did he gfit himself some bonuses ? Does he have 8 very nice Houses ? and 20 Cars ? 4000 Dollar Suits ? WHAT don't we know.???......And on another level, here's the thing, Banks are NOT lending Money for Anyone for Anything...so of course the Auto Industry is really hurting...Shouldn't the Banks and the Bankers have to answer About WHY the American People are not worthy of Loans ? On another level, to be honest there have been very few car ads on TV these past 3 monthes, and really very few special Deals for Americans....add that to No Loans...and guess what, No Car Sales...
But tonight we did learn from an ABC report that Wagoner was given a very nice 20 Million Retirement Package....
Snippet from the ABC story:::
"Wagoner will leave his post as CEO of bailed-out General Motors with a $20 million retirement package, the company's financial filings show.Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News.The Obama administration asked for Wagoner to resign Sunday, as part of its restructuring of the auto industry. President Obama said this morning that forcing Wagoner out indicated it was a time for new leadership.Under Wagoner's leadership, GM lost tens of billions of dollars, took billions in taxpayer-financed aid, and cut tens of thousands of jobs, including announced plans to cut 47,000 employees by the end of 2009."
America has had Hard Times before, but the Car Industry survived...we need to research What was Done in the Thirties...I really don't want to be driving a Chinese car 10 years from now...
And sadly people are also not buying cars because they are worried about their Homes and their Jobs....and because they have seen no ReCovery Money or Stimulus yet....YET...
Click the Title for a Guardian Article that unfolds the story simply....I will link more updates and articles tonight....
~~~~~~~~~~~~~~~~~~~~~~~~
Here is the Text of Obama's Announcement today.....
New GM CEO admits " Mistakes Were Made"
And of course.....Reuters has started reporting that Workers have angst....
~~~~~~~~~~~~~~~~~~~~~~~~~
So here's a video clip from the Obama Announcement ( sorry it's Fox):::
And this GM Superbowl Ad now seems so sad...and prophetic...truly sad..the one with the "un-employed" robots...
