View Poll Results: Should the US Government be allowed to fire a company president?
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Never! If it starts with the car companies, who's next? Let the board of directors decide!
Yes, in limited circumstances the Govt should "ask for the resignation" when deemed appropriate.
Results 11 to 17 of 17
03-31-2009, 06:48 PM #11
- Join Date
- Mar 2007
- Grand Prairie, Texas
- Blog Entries
A normal loan doesnt constitute becoming a stock holder, but in this case the terms GM and other companies accepted to recieve the funds must have had provisions to allow what has happened.
If they didnt sign on to terms of that nature GM could've told the goverment to pack sand. That didnt happen so they allowed themselves to be put in this position.
Maybe when agreeing to the loan they felt the chances of the goverment asking for removal of the CEO were minimal, this is something we dont know, in fact we truthfully dont know what all was agreed to procure these loans.
Which is obvious by the results we've seen so far from the banking industy.
But back to your original question "Should Goverment be allowed to interfere in private business" under normal circumstances no, but we can only assume since we dont know the details of the transaction that private business invited interference by asking for and taking loans under terms that would allow this to happen.
These bailouts only deepen my feelings that most people in this country think the goverment should be everything to them when they need it but become invisible when they dont want it, you cant have it both ways.
04-02-2009, 12:29 PM #12
I never thought I would be saying this but...
Because of the way this whole thing went down I think the Government should have some power over this. I do not believe that the government can do things better, but when they accepted the bailout money things changed. I guess it should have been spelled out better from the start though.
04-02-2009, 01:21 PM #13
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- Oct 2008
- Gloucester, MA
- Blog Entries
I agree with Steve on this one. the government has no place in the coorporate world. The fact that GM went to them for help shows that instead of canning 3/4 of the workforce at GM he would rather succomb to the powers that be and keep more Americans employed. Had they done it without help you would see an even more staggering unemployment percentage accross the nation.
Now what if you were behind on your mortgage and you turned to the government for one of their new programs and they said sure we'll help you out but now you have to move out of your house because we did. Where is the fairness in this.
And Mr. Fritz with his instantaneous agreement to controlled bankruptcy scares the crap out of me and raises some questions on how well he will end running GM. Time Will tell though.BRYAN
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04-02-2009, 02:37 PM #14
- Join Date
- Mar 2009
Once they took the our money it is up to us and we have choose Obama as our leader so ultimately it should be up to Him.2007 chevy regular cab
04-02-2009, 03:36 PM #15
Honestly Wagoner should have been gone years ago. Was it right for the President to say this I think so, while we may be just a few thousand with a small voice in our forum, the fact is this was taxpayer money and with this economy in crumbles the government did what they felt was in the best interest of the taxpayers money considering they had an extremely limited time frame. The big three represents some of the longest standing companies in the world and they cant let them just go away. I dont remember who said it years ago but they siad if you want to lose the presidency the best way to do it would be to turn your back on the airlines and the big three. Michigan is in ruins from this already it gets any worse then the residents leave that state to go to others that will give them welfare, in turn just handing out more money. GM needed a change and Obama gave it to them. By the way I am by no means an Obama supporter, but he was dealt a shi*@y hand from day one99 K1500 Suburban LT "THE BEAST"
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04-02-2009, 11:46 PM #16
meh I just think it's stupid that the Gov't gives these companies all kinds of money then the exec's give out huge bonuses to high level employees. They send them on corporate jets to some spa across the country where they spend more in a day than I made last year. These guys are making millions a year driving these companies into the ground, I just don't get it.Dan
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02-15-2010, 07:18 AM #17
Hell no! Let capitalism work the way it is supposed to!
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