We are acting as reluctant shareholders, because that is the only way to help GM succeed," Obama said. "What we are not doing -- what I have no interest in doing -- is running GM." He vowed that the federal government would "refrain from exercising its rights as a shareholder in all but the most fundamental corporate decisions," and he promised that a private board -- not the government -- would "call the shots and make the decisions about how to turn this company around." For example, he said, the "new GM" would decide where to open new plants and what types of new cars to make. http://www.washingtonpost.com/wp-dyn/content/article/2009/06/01/AR2009060100697.html This guy is better at being Bill Clinton than Bill Clinton. He 'has no interest' in running GM, except of course to select it's leaders, tell them what kind of cars to make, force them into bankruptcy, give the unions what they want, throw bondholders under the bus, and he would "refrain from exercising its rights as a shareholder in all but the most fundamental corporate decisions". Just wait until you see what exactly is fundamental. (People who haven't made cars or run a business are making the fundamental choices). "We don't want to run the company, except we will make fundamental decisions". Welcome to the second age of doublespeak, say whatever you think the masses want to hear but do whatever the hell you want to with $50B of taxpayer money. ...But the coordination with the government affects what appear to be smaller matters as well. For example, yesterday GM announced a new "Total Confidence" program for consumers that offers a warranty, an OnStar traveler's assistance system and a promise to pick up as much as $500 a month of car payments for buyers who lose their jobs. "The government is aware of it, completely supports it," Mark LaNeve, head of GM's U.S. field marketing, said yesterday in announcing the program. lol, the government is aware and supports it. GM is now a tool of the democrats, facism modern american style.
By principle, I could never bring myself to buy a new GM again. Thank god they are getting rid of saab, because thats they only gm brand I would buy and have bought.
I would buy one from one of the terminated dealers, but after they're buried, I wouldn't dream of buying a new GM or Chrysler. The sooner they go bust again, the sooner we stop wasting taxpayer money to pay off the UAW.
"We don't want to run the company, except we will make fundamental decisions". This morning it is still mind blowing to me. That not-even-subtle self contradiction shows just how far this guy thinks he can push. He is starting to believe the messiah complex himself. His balls are growing so large that I bet to impress Michelle on their next date he'll give an address about conserving petroleum and not wasting government money. Then they'll have something more to giggle about together in private. The first couple left their girls, Sasha and Malia, behind at the White House yesterday afternoon, taking two helicopters and a small Air Force jet to make their way to Manhattan. ... Taxpayers footed the bill for the big night on the town, which included a total of at least $24,000 for the three aircraft used to ferry the Obamas, aides and reporters to New York and back. http://www.nypost.com/seven/05312009/news/nationalnews/obama_keeps_his_big_apple_pledge_171810.htm
He vowed that the federal government would "refrain from exercising its rights as a shareholder in all but the most fundamental corporate decisions," ---------------------------------- Hmnnn. Imo, these are the fundamental corporate issues. Health care, pension benefits and most recently is mileage standards. What else is left?