Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” —Ronald Reagan
IN A STUNNING ANNOUNCEMENT TODAY, President and CEO of General Motors was forced to resign after his meeting with the Obama "stooges" who told him Friday that he had to go!
This action is nothing but a pay off of a $50 million dollar debt to the Unions, who still have not agreed to any cuts in salary and benefits at the Chrysler Corporation as mandated by the multi-million dollar deal that the Congress and Obama stipulated in the money bail out.
The immediate reaction from the Governor of Michigan was that Wagoner was a "scape goat"! I believe he is the sacrificial lamb to the Unions as you will see from the following report of what he did to try and save Gm.
"Governor Jennifer Granholm noted that Wagoner has worked for GM for more than 30 years and was trying to turn the company around. She said that Wagoner agreed to step aside for the good of the carmaker and its workers.
By all accounts, Wagoner made progress in fixing GM. While CEO, he cut its U.S. work force from 177,000 to roughly 92,000 today.
Wagoner also closed factories; shed the unprofitable Oldsmobile brand; globalized GM’s engineering, manufacturing and design to save billions; and led a resurgence in quality and performance of its long-neglected cars. In 2007, the company reached a landmark agreement with the United Auto Workers that shifted massive retiree health care costs to a union-run trust and ushered in a $14-per-hour wage for new hires, about half that of a current laborer".
For this he was told by the Federal Government to resign! Once again the Socialist leaning administration of Barrack Obama has reached it's bloody hands around the neck of private enterprise and strangled the lively hood of another hard working executive.
As Obama continues his onslaught on the private sector this is another demonstration that Unions will get a free pass when ever the "spendulus" Obama administration can find an executive to demonize.
In announcing today, Obama said he will deny more funding to Gm and Chrysler unless they sufficiently restructure the company, but as you can see from this quote from The New Media Journal.com. He says not one disparaging word about the Unions failure to concede anything to help save their jobs!
". In an interview with CBS' "Face the Nation" broadcast Sunday, Obama said the companies must do more to receive additional financial aid from the government. "We think we can have a successful US auto industry. But it's got to be one that's realistically designed to weather this storm and to emerge -- at the other end -- much more lean, mean and competitive than it currently is," Obama said. Instead, the administration has decided to give Chrysler 30 days to work out a deal with Fiat and GM 60 days to come up with a new restructuring plan. Both companies will be provided with "some working capital" during those time periods. A senior official said, "bankruptcy is not the goal," although there may be a "role for a court supervised process".
Is there any wonder why companies are moving off shore with the strangle hold Unions have on the products USA companies try to sell the world? The Germans, Japanese, Swedish all make better, longer lasting cars at a price the average American buy, because they do not allow unions to add thousands of dollars to the price of the cars for inflated, bloated benefits and retirement.
And if Americans do not speak out loudly against this tyranny we will find ourselves in an economic hole that even our grand children cannot dig them selves out of!
GOD help Us!
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