10 Votes

Boost it!

White House: We have no desire to run GM or any auto company

omarrana submitted on 4/28/2009 Official Bell & Ross Timestamp: 8:51:21 AM

11 user comments | Category: Misc News | Source: | SOURCE: www.egmcartech.com

Tag Links: GM, Chrysler

Following the launch of General Motors more aggressive and revised restructuring plan, the White House said today that the government does not want to run the struggling automaker.

In its updated restructuring plan, GM said today that it would give the U.S. Treasury 51 percent of the company.

“This administration and this government have no desire to run an auto company on a day-to-day basis,” White House spokesman Robert Gibbs said. “It is not our desire to own or run one of the...

Read Article

White House: We have no desire to run GM or any auto company

About the Author

omarrana

I hooked up my accelerator to my brake lights. I hit the gas, people behind me stop, and I'm gone.

— omarrana (View Profile)


User Comments

LACMAN

The government is full of sh*t. Either loan them the money or not. How can they say they have no desire to run GM when they promise to bail out GM ONLY if they make these changes? That sounds like they are running them to me...

— LACMAN (View Profile)

Posted on 4/28/2009 12:02:17 PM | reply to this comment | Votes: 3   

LexSucks

They need someone to run it for them, because when they ran it themselves they ran it into the ground. What would you suggest should happen to GM?

— LexSucks (View Profile)

Posted on 4/28/2009 12:56:23 PM | | Votes: 1   

1995e34

its part of the loan agreement, right? they can't just jack their interest rate up and send a collections lawyer after them like credit card companies do.

the changes made will be for the best. gm will be back on their feet in a year or two. they will have the volt, cruze, malibu, camaro, corvette, and whatever the g8 morphs into (i am confident gm will do this). what volume manufacturer will offer a better lineup, domestic or foreign?

— 1995e34 (View Profile)

Posted on 4/28/2009 1:08:09 PM | | Votes: 0   

MBKing

I suggest they take over, give the U.S. tax payers shares in the company, grow the company to become sustainable and then watch the stock price grow giving us the chance to sell it if we want or buy at a discount. The U.S. takes over countries to fix them, you're telling me that they won't take over one of it's own companies to fix it? Sounds like America has it's priorities messed up.

What they should do is put us in charge. I'm tired of these old farts running companies they don't know how to run. I'm not saying I know much about running a corporation, I'm just saying when I'm relying on cars like the PT cruiser to bring me in profits, that'd I would have been skeptical on how long that would last.

— MBKing (View Profile)

Posted on 4/28/2009 1:11:19 PM | reply to this comment | Votes: 1   

StarSearch

Any plans on running the country?


...and not into the ground, I mean.

— StarSearch (View Profile)

Posted on 4/28/2009 1:20:30 PM | reply to this comment | Votes: 4   

LACMAN

Right! Fix this economic mess and perhaps the Auto industry wouldnt be in the shape they are in.

— LACMAN (View Profile)

Posted on 4/28/2009 3:42:25 PM | | Votes: 2   

Badgewhore

It took Bush/Cheney 8yrs to run the world's economy to the ground, it's going to take more than 100 days for Obama to fix it. Just be patient kids, good days are ahead, unless the GOPs already have some master plan to sent us right back where we are now.

— Badgewhore (View Profile)

Posted on 4/29/2009 3:24:42 AM | | Votes: 1   

MeanVulcan

If I'm not mistaken the Stock markets around the world saw their greatest gains during Bush/Cheney. What brought the economies of the world down where the stupidity of the Democrats in pushing the mortgage lending issues which finally exploded and created a domino effect throughout many industries. Let's not blame the obvious for everything!

— MeanVulcan (View Profile)

Posted on 4/29/2009 12:23:11 PM | | Votes: 0   

roundwego

America's only priorities are raping the country so the rich get richerand then whining like a bunch of little b1tches when things go wrong.

— roundwego (View Profile)

Posted on 4/28/2009 2:13:31 PM | reply to this comment | Votes: 2   

upwards

You want to bring America back to a world power? The soulution is a simple and easy one.

1. There should be a heafty import tax on anything touching our shores some say this is not fare but many of our companies are not allowes to sell items in many other countries. This will allow America to produce more of its own items on a fare bases on par with foreign companies.

2.Bring back manufactoring industries to the US. If step one was follwed then manufactoring jobs would crop up more easily given that we can compeate better against imports including autos.

3.stay out of foreign wars. how many kids could we have put in college with the mone spent from Iraq alone?

— upwards (View Profile)

Posted on 4/29/2009 9:40:49 AM | reply to this comment | Votes: 0   

MeanVulcan

Disagree, only because we depend on foreign investments and investments come when there is fare trade and opportunity for growth (not to mention a working legal system, etc). Isolating yourself from the world limits your economic growth. The US is not a growing country like China so we cannot afford to ignore the global markets and we must defend our interests/trade partners.

The solution needs to address the basic need... education. Just look at the percentage of people with minimum income living off everyone else. This is the problem IMO but it is hard to believe that the uneducated will get ever get educated because the mentality here is "what can my country do for me" and not "what can I do for my country". This is the land of the free ... to do whaever we please, including burning our flag, banning the pledge of allegiance, respect others (what respect?), kill traditions, protect terrorists, shame our warfighters, sue our parents, racism, liberalism.

It is shameful that we take "free" to mean anything but we forget about respect, honor and loyalty.

— MeanVulcan (View Profile)

Posted on 4/29/2009 12:44:13 PM | | Votes: 1   

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]