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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
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 02:22 AM.Pic of a natural act: UBER RAVENS FAN AND HISTORIAN GURU. THE PAST IS NOT DEAD, IN FACT, IT IS NOT EVEN PAST.' WILLIAM FAULKNER.
09-18-2012, 10:44 AM #2Regular 1st Stringer
- Join Date
- Oct 2011
- Harford County
Re: LOL - GM wants to fire OBY as CEO
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 01:34 PM.Pic of a natural act: UBER RAVENS FAN AND HISTORIAN GURU. THE PAST IS NOT DEAD, IN FACT, IT IS NOT EVEN PAST.' WILLIAM FAULKNER.
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.Pic of a natural act: UBER RAVENS FAN AND HISTORIAN GURU. THE PAST IS NOT DEAD, IN FACT, IT IS NOT EVEN PAST.' WILLIAM FAULKNER.