Comments on: Elite Eight reasons Obama fired Rick Wagoner from GM

By: Franklin Resident

Franklin Resident — Tue, 31 Mar 2009 11:58:50 +0000

With President Obama leading the way our country is going down. They don’t have a plan but they keep on taking over industries. First banking, then our auto industry. The democrats are putting our children and grand children into debt that I am not sure they can pay off. According to GAO we now have a national debt of 10 trillion dollars. There is NO money to pay for social security when baby boomers retire. Our government is broke. So what the hell are we doing running a auto company when we can’t run our government.

By: adam hartung

adam hartung — Mon, 30 Mar 2009 15:45:38 +0000

This is what happens when you lose your position as #1. It doesn’t take long for people to start envisioning a world without you. GM started on the road to irrelevant years ago by focusing internally rather than on the market – missing all major shifts and becoming also-ran. Obama’s team is telling everyone (auto and banking) that if you can’t prove you know where the market is heading and demonstrate you can get back in front, then there’s little reason to support you. Read more http://www.ThePhoenixPrinciple.com

By: steveegg

steveegg — Mon, 30 Mar 2009 14:23:27 +0000

In reply to Dan. Well said. Speak for yourself on that comfort however; I'm (barely) young enough to be around for that final collapse, and I see it far earlier than 30-40 years.

By: Dan

Dan — Mon, 30 Mar 2009 14:20:34 +0000

I picked your blog at random — I just had to get this off my chest. I spent 21 years at a big company, which was frequently toe-to-toe with the government (local and federal), so I have a bit of a perspective on this corporate mess. I am physically ill when I think about what it going on with the auto industry, and I really haven’t been paying much attention to it! Quite frankly, I would prefer to see the whole American auto industry go belly-up than to turn them in to taxpayer-owned and government-run (gasp!) institutions, apparently destined to pump out ridiculously expensive hybrid and electric cars.

This government takeover of GM (and Chrysler, and ??) after “a month studying the situation”, as I read in one report, is truly frightening. Not only is this intervention unwise, unconstitutional, and socialistic, but the fact that they are now mandating “who’s in and who’s out” should be a concern to all Americans. Maybe Wagoner should be out, that’s not my point. My point is that the government shouldn’t be making the decision (I’m grateful that I’m not a GM taxpayer and a Wagoner supporter!).

I do not profess to have a good understanding of the situation. But I certainly question the ability and wisdom of the Obama team to run the auto industry at such an obscene expense to us taxpayers.

I can only take comfort in the fact that I probably won’t be around in 30 or 40 years to witness the final fall of democracy in the United States if this trend continues, and I see no indication that it will not.

By: steveegg

steveegg — Mon, 30 Mar 2009 13:57:23 +0000

In reply to Lyn.

Don’t worry; Presidential Motors and Congressional Motors will both make the Pelosi. My eyes cannot, however take the convertible version.

As for investments, I have but 4 letters – ammo. Remember, while he who has the gold makes the rules, he who has the ammo will eventually get the gold in a lawless society.

By: Lyn

Lyn — Mon, 30 Mar 2009 13:27:08 +0000

Oh no Reason #2. Dangit. I really was looking forward to buying a Pelosi. Especially a convertible. Yeah it would have been good to have that Pelosi topless and really ride it hard.

What to do with the money I saved up? Guess I’ll invest it in some GM preferred stock.