Kicking Wagoner out caused outrage and shock at GM

This GM mindset is why they will ultimately fail. If they are sucking up large amounts of tax money then they (GM/Board) are *not* in charge, they Golden Rule is-He who has the Gold makes the rules. GM isn't even
on the Dow any more.
Kicking Wagoner out caused outrage and shock at GM http://tinyurl.com/q2m6kg
BY JEFF GREEN and DORON LEVIN BLOOMBERG
Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp.
It was March 27, almost nine years after he become chief executive officer. He'd been summoned by Steven Rattner, the Wall Street deal-maker running President Barack Obama's auto task force.
He didn't know Rattner's team had decided it needed to break GM in order to fix it. Wagoner, unwilling to consider bankruptcy, was in the way.
Rattner asked Wagoner for a one-on-one chat in his office. He told Wagoner it was time to step down.
Wagoner returned to the meeting room and told Chief Operating Officer Fritz Henderson and Chief Financial Officer Ray Young that he was fired. They were shocked. Some board members were furious.
"I want out," said one GM director. "When they made the decision to fire Wagoner without talking to the board, that did it. We had a conversation with Rattner. I told him it's our responsibility to pick the CEO."
Wagoner declined to comment for this report. People who know him say he is still upset and spending time at his vacation home on Daufuskie Island, S.C.
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Civis Romanus Sum

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Well, when you hold the purse strings, you can set the terms, cant you?
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HLS wrote:

Yup
--
Civis Romanus Sum

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Wagoner was there because at last count he has yet to recieve his $20M pension and is still technically on sallary.

There was a criminal mistake. If you are bankrupt, not declaring it should not be an option.

Long overdue.

He should get his wish. If one board member or senior executive exists when Government Motors begins operations then the corruption and irrational idiots will do it again.
The board should be fired with prejudice and with notice they are not allowed to sit on any other boards for the rest of their lives.

Too bad, finaly got told he was a loser that he is.
What really stinks s Wagoner and the board could have fixed GM. Yet they play the victims. The ultimate responsibilty to run GM correctly was theirs alone, and they all botched it. In fact, operating a company past banruptcy is fraud and criminal. Maybe they all need 10 years in jail for criminal negligency and consiracy to fraug the taxpayer. It was known years ago they wanted to dump GM & Chrsyler on the taxpayers lap.
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he's upset ? what about all those who invested in gm ? what about the suplliers and employees that depended on gm ?
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And all the people he failed to pay so their falimies could eat. 99% of the reasons any auto parts manufacture is in trouble is because GM didn't pay their bills. Criminally operating on bullshit.
And then how anout the hundreds of millions being blood sucked for GM today? Another $15 billion got flushed today on more auto corruption.
People should ask for a written detailed accounting of where all this cash is going. Seriously, $65 billion for GM didn't go all in wages or suppliers, it sure didn't.
How high does it need to go before people say and realize what this really is?
Organized crime against your financial liberty.
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