U.S. Sen. Dodd says GM CEO should move on

Source: Reuters

...

Dodd said management changes have to be part of conditions for a bailout to help the companies restructure, but that does not mean an across-the-board housecleaning.

"Ford is fairly healthy, so we don't want to brand all of these companies exactly the same way," Dodd said.

Dodd agreed with suggestions by fellow lawmakers that GM should probably consider replacing CEO Rick Wagoner and restructure with a new team.

"I think he has to move on," Dodd said.

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Read more: http://www.reuters.com/article/innovationNewsConsumerGoodsAndRetail/idUSTRE4B619D20081207

Chrysler & GM finance. & their Chair of the board is ex. Treasurer John Snow.

What a robbery Bush's boy's are STILL pulling.

If we don't bail them out, the housing market they serve will become worse making the bail needed even larger.

If we do bail them out, we pay for the excessive housing prices that probably won't return the value we end up paying, but they get the dollars, taxed dollars.

It's the millions out of work. If we need a CEO scapegoat, okay, at least Wagoner was in a position to know about the CDSs and CDOs and had to approve it along with ten-thousand other decisions bunches of committees passed in front of him.

The corruption smells.

God, I'm sick and I've been puking all morning, just reading that makes me literally wretch...

:think:

They should be replaced too!!

the companies re-invest in building factories in the U.S....the ratio of cars and parts that come from canada, mexico, china, etc. needs to come down...

Percy N Barnevik (AstraZeneca PLC, Retired Chair) since 1996

Erskine B Bowles (President University of NC) since 2005

John H Bryan (Sara Lee Corp, Retired Chair and CEO) since 1993

Armando M Codina (Flagler Development Group, President and CEO) since 2002

Erroll B Davis Jr (Chancellor University of Georgia) since 2007

George M C Fisher (Eastman Kodak, Retired Chair and CEO) since 1996

E Neville Isdell (Coca-Cola Co, Chair and CEO) since 2008

Karen Katen (Pfizer Foundation, Chair) since 1997

Kent Kresa (Northrop Grumman Corp, Chair Emeritus) since 2003

Ellen J Kullman (DuPont, Exec VP) since 2004

Philip A Laskawy (Ernst & Young, Retired Chair & CEO) since 2003

Kathryn V Marinello (Ceridian Corp, Chair and CEO) since 2007

Eckhard Pfeiffer (Compaq Computer, Retired President & CEO) since 1996

G Richard Wagoner Jr (GM Chair & CEO) since 1998

He is not running the company well.

The loan should be contingent on the resignation of all of the executives, particularly the CFO's, and their decision-making staff, in all three companies.