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  1. #1
    Join Date
    Apr 2009
    Blog Entries

    LOL - GM wants to fire OBY as CEO

    Remember how they begged the gov't to lend them over $50B and it did and OBY fired the
    CEO and ran the company himself?

    Now they want out of the Gov't and the Gov't
    says no way as selling now will cause the gov't to
    lose money.

    GM wants to do away with the pay restrictions
    in order to attract top talent. This is what
    happens when you sell your soul to the devil.

    It's Gov't Motors now.

    Welcome to Socialism GM. It is here to stay.

    Me thinks the gov't is still pissed about the banks not adhering
    to the restrictions imposed on them with all that TARP money.
    They were supposed to loan it out to the people but hoarded it
    making billions on interest before paying it all back while 11
    banks acquired 77% of all US bank accounts. Meanwhile, millions lost their homes. They're not going to fool around with GM.
    Last edited by AirFlacco; 09-18-2012 at 03:22 AM.

  2. #2
    Join Date
    Oct 2011
    Harford County

    Re: LOL - GM wants to fire OBY as CEO

    Quote Originally Posted by AirFlacco View Post
    GM wants to do away with the pay restrictions
    in order to attract top talent. ]
    I'm really sick of large corporations using this same old tired argument. Wasn't it the "top talent" that ran some of these companies into the ground?

  3. #3
    Join Date
    Apr 2009
    Blog Entries

    Re: LOL - GM wants to fire OBY as CEO

    Honestly, yes!

    While I hate Gov't takeovers, bad and greedy management caused
    this depression as Galen used to say. Hell, look at Saloman Bros
    before the bust. That management team almost killed the company.
    The SEC was going to put them out of business for good for their illegal trading until Warren Buffett took over for the company. The SEC knew he meant honesty and Buffett saved the company.

    Even he tried to cut the huge bonuses top management made but
    they revolted and got the board to give it to them. Buffett sent
    them a scathing memo that he was cutting their limo fleet after
    that and he sent it from the subway which he rode to work while
    top management had drivers and limos. Management revolted
    vs that too and won.

    Then AIG started the whole greedy mess along with Goldman and
    Sachs and on top of that none of the banks that got TARP money
    gave it to the customers in loans as the gov't dictated.

    I'm still vs gov't takeovers despite all that but our problems are
    still here because of greedy management.

    But back in the old days like the Panic of 1907 it was the wealthy
    that saved the banks when there was a big run of money and
    banks lost millions which were like billions in those days in a couple of hours.

    JP Morgan saved the economy by getting his good ole boys club
    like Rockefeller and Melon and Carnegie to give their own
    bailout of the banks. The GOP also got the gov't to loan some
    millions also with their version of TARP money but can you see
    today's wealthy like Gates, Soros and Buffett giving their
    billions to save the economy?

    While saving Saloman Bros before the bust, Buffett bought huge
    shares of Goldman Sachs. This was not a loan but purchase of
    stocks where here made millions per minute, I mean minute.

    Finally, when Sachs regrouped their money via TARP they got
    the SEC to force Buffett to sell his shares of Sachs. Buffett
    wrote his clients that the gravey train just got derailed.

    But that's the what they did back in the old days. Top management
    took care of their own mess.
    Last edited by AirFlacco; 09-18-2012 at 02:34 PM.

  4. #4
    Join Date
    Apr 2009
    Blog Entries

    Re: LOL - GM wants to fire OBY as CEO

    And speaking of more greed and Buffett. He got OBY to kill the keystone pipeline. OBY had to comply since he gave him a few million in campaign funds.

    Buffett wanted to ship that oil from Canada to
    Texas by rail. The pipeline would cost just
    a fraction of that.

    OBY also cost over 20,000 welder and other
    jobs by not signing the pipeline bill both
    parties voted for in the house.

    So much for trying to create jobs.


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