BREAKING: GM's Rick Wagoner Stepping Down !

General Motors Chief Rick Wagoner Said to Step Down

[link to www.bloomberg.com]

By Doron Levin and Jeff Green

March 29 (Bloomberg) -- General Motors Corp. Chief Executive Officer Rick Wagoner will step down after more than eight years running the largest U.S. automaker, people familiar with the situation said.

The people, who asked not to be named because the announcement hasn’t been made, didn’t give a reason why Wagoner, 56, is leaving. Wagoner said as recently as April 19 that he didn’t plan to resign.

To contact the reporters on this story: Doron Levin in Southfield, Michigan, at [email protected]; Jeff Green in Southfield, Michigan at [email protected]
Last Updated: March 29, 2009 16:32 EDT

Maybe he's stepping down because he turned the most powerful company in the world into a steaming pile of sh*t. What the real shocker is, is that he hasn't been murdered by anyone yet for what he's done.

:5:

this is great news..

Rick Wagoner was the one at GM who stopped GM from dropping the SUV's and building smaller fuel saving cars.


biggest blunder ever made...

this will change the make up of GM huge

What really SUCKS is the demise of Saturn. They obviously could have made a hybrid out of it.

Is the Camaro still coming out?

GM stock will tumble tomorrow. Probably down 50%. Never good when the main promoter of the new Volt decides to walk away.

Dow 4000 is very close.

Day's Range: 3.45 - 3.94
52wk Range: 1.27 - 24.24



Last Trade: 3.62

Just now on Fox News. Wagoner out due to pressure from the government. Government making him step down and may force bankruptcy. Takeover IMMINENT.

SELL GM NOW!!!!!!!!!!!!!!!!!!!!!!

GM CEO Wagoner to Step Down

GM, GENERAL MOTORS, WAGONER, RESIGN

CNBC.com | 29 Mar 2009 | 05:19 PM ET

General Motors Chairman and CEO Rick Wagoner is stepping down as head of the embattled automaker CNBC has learned Sunday.


Wagoner's resignation comes as the company awaits president Barack Obama's reports on efforts to save GM

and Chrysler.

It is unclear if Wagoner's resignation is one of the stipulations for the federal government to lend billions more to GM. But sources close to the talks say tough conditions will be attached to any future aid.

President Obama will update the public on the Treasury Department’s next step in helping GM and Chrysler on Monday afternoon.

A sneior White House official did not deny to CNBC that the Obama administration influenced Wagoner's departure.

Asked if the administration forced him out, the senior official replied, "'forced' is a little strong."

Wagoner has served as CEO since 2000. Under his leadership, GM has steadily lost market share in North America while becoming the dominant automaker in China, where it is currently number one.

For all of Wagoner's international success, his inability to cut losses and make GM profitable in North America is ultimately the cause of his downfall. Vice Chairman and President Fritz Henderson is expected to step in upon Wagoner's departure.


[link to www.cnbc.com]

How convenient. Right before the market opens tomorrow.

are they TRYING to collapse the market?

How convenient. Right before the market opens tomorrow.

are they TRYING to collapse the market?

GM message board on Yahoo..


[link to messages.finance.yahoo.com]

Actually, Wagoner was probably the only CEO I've seen in the news that doesn't seem like a total scumbag. No wonder they are pushing him out.

I bet Obama pushes for a tax cheat replacement....

GM is trading at $.35 in Europe!!!!! HOLY Crap Batman

Was that date a type-o?

I do not know if this is ture....the yahoo board has no mods

wagoner aint gonna do shit.

Ugly day tomorrow on wall street.

G.M. and Chrysler are on the verge of exhausting the $17.4 billion in federal loans given to them since December. G.M. has asked for up to $16.6 billion more, and Chrysler another $5 billion.

GM CEO resigns at Obama's behest
[link to www.politico.com]

on drudge now, with siren!

Obama forced them out!

Last Edited by Dread Pirate Roberts on 03/29/2009 06:01 PM

Europe is closed.
It's Sunday here.

One minute everyone is upset at the automakers for being greedy bastards, suppressing technology, and living in the hindends of Big Oil...now people are saying they can't belive Obama forced this guy out?

Change is needed. I think this was one point scored for Obama. Let's just see who replaces Wagoner.

Detroit auto bailout? Yes, but fire the CEOs first

Funny, they didn't force out any of the bank execs. Hmm...

Fire Pandit the Bandit and Screw Us Lewis.

Last Edited by Mothra on 03/29/2009 06:27 PM

I found that odd as well..........why are all the CEO's still in there???

Futures should be trading now.

2009 Aveo5
Chevy car.


EPA estimated MPG 34 highway...

Starts at $12,625*


Rick Wagner.....this is what I ask you and you team.



this is a great start..


but...where is the 44 MPG and 54 MPG cars..


the smart car gets the MPG.......what is you problem..


[link to www.chevrolet.com]