Posted by
Katy Grimes on Monday, March 30, 2009 1:12:45 PM
With President Obama forcing the resignation of GM Chief Executive Rick Wagoner, and then denying that the government is in the auto business, all that I can say is "Welcome to Government Motors."
The remarks come a day after the administration ousted GM Chief Executive Rick Wagoner and rejected the restructuring plans that GM and Chrysler had hoped would lead to another infusion of government cash.
The auto companies will be filing bankruptcy anyway, so now that the Obama administration has wasted billions of our money, the takeover seems obvious.
In addition to pushing out Mr. Wagoner, the task force said GM is in the process of replacing the majority of its directors. Kent Kresa, a longtime director, will serve as interim chairman. Mr. Wagoner will be replaced as CEO by Chief Operating Officer Frederick "Fritz" Henderson. President Obama will no doubt be replacing the GM directors with Union hacks... a little "thank you" for putting him in the White House.
Read the entire disgusting story. OH, but don't forget, Obama promises that your GM warranty has never been safer or worth more now that it is backed ny the US Government... Wow. Do I feel better. No, the US Government is not in the auto business.