By on March 12, 2009

Automotive News reports that GM CEO Rick Wagoner tagged-along with 69 other working stiffs to hear President Barack Obama put his entire hope-and-change spiel in a single, pre-written sentence.

“We must build this recovery on a foundation that lasts — on a 21st Century infrastructure and a green economy with lower health care costs that creates millions of new jobs and new industries; on schools that prepare our children to compete and thrive; on businesses that are free to invest in the next big idea or breakthrough discovery,” Obama said in remarks released by the White House.

Uh-oh. Isn’t that whole “next big thing” thing the thing that allowed GM to avoid making the hard decisions that would have prevented its $30 gazillion dollar call on the public purse?

And while you’re pondering that, riddle me this Batman: considering that Red Ink Rick has face planted the artist formerly known as the world’s most profitable company, what would you say is Wagoner’s “thing”? Given Obama’s post love-in small talk, it’s no small thing. “In an offhand comment, Obama told the Roundtable he doesn’t want government controlling the economy. ‘I want you guys to do your thing,’ he said.”

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11 Comments on “GM CEO Joins 69 Tycoons at White House Love-In...”


  • avatar
    gusplus

    The fact that Wagoner has lasted this long is amazing. Just thinking outloud, but he’s either supreme commander of the General, like Castro, or he’s just a twit in a suit who’s willing to take the public abuse. Maybe we should look a bit closer into the board of directors. What’s their “thing”?

  • avatar
    Rastus

    As bad as Rick Wagoner is…just know that Barack Obama is worse.

    After all, “da Man” who endorses the Rick Wagoner’s, the Chrysler LLC’s, the back-alley sleaze-bag style of giving away tax-payer’s money to the bankers (who in turn piss it away on outlandish parties, million dollar bonuses, etc.)…this is a man who does not represent “the people”.

    The Wind’s of Change which this man is blowing up America’s ass are the winds of Socialism. He does not stand for Free Trade, nor does he endorse initiative and hard work. Hell, he’s hurting Ford Mo. Fo. by giving money to GM and Chrysler…money which they in-turn use to bribe other government officials. He’s doing the same thing to those banks which avoided the “derivatives” bullshit.

    Bernie Madoff is spending the night in prison. Why isn’t Rick Wagoner in Debtor’s Prison himself?

    No, Uncle Rastus, ta’int the way we’se do thangs in the People’s Republik of Amerika.

    “Oh, the Children!!”

  • avatar
    akitadog

    First of all, Rastus, I didn’t call you drunk. But you’re definitely on a rant. And your mocking of President Obama with your vernacular parody doesn’t look good on you.

    Secondly, if we’re being looted “from on high,” you’re giving Obama way too much credit in way too little time for the situation we’re in currently, and have been in, long before Obama took office. If anything, G.W. Bush should receive most of the blame for putting everything in place to bring about our current situation.

    He asked us to continue to spend money during two wars, one of his own choice, insisting on an “ownership society” to the point that lenders and consumers did anything they could to get into a house both parties knew they couldn’t afford, and topping it off by defying Congress’ wishes by looting TARP for the automakers. He really left Obama holding a big pile of stinking sh!t. And you KNOW IT.

    But despite Obama’s attempts to do what he thinks is best for us at the moment, whether you agree with it or not, feel free to continue to portray Obama as he’s some kind of pickaninny, or Karl Marx reincarnated, or whatever you want to call him. Just keep in mind that it says more about you than it does about Obama.

    Edit: RF, if this is flaming, so be it, but it needs to be said.

  • avatar
    Rastus

    First of all…I am not against you. More than likely, I am FOR you. I am for anyone who works…period.

    Know that.

    But anyone who believes “Obama’s ‘Stimulus Package\'” …which debuted in all it’s 1100+ page glory within his first 4 weeks in office…ANYONE who believes this is *HIS* bill is crazy.

    You can’t even get a travel claim processed through the government in that amount time. Yes, gov’t is that incompetent.

    So…this “Package” has been in the works for 6-8 months if not longer. He’s a puppet…he’s doing his “job”…but it’s not the job you think.

    He doesn’t work for you, nor does he work for America. Sorry to burst your bubble, …he works for the banks. Debt in all it’s glory is a wonderful thing…assuming you are on the lending side.

    The hand that gives is above the hand that receives.

    Debt is a type of slavery…and every tax payer is on the hook…you and I included.

    Now go back to your Hookah…

  • avatar
    Rastus

    You also need to break the partisan party-line nonsense.

    What you fail to see is that GW sold America down the drain too. He isn’t a Conservative…not even close. Anyone who believe so doesn’t know the very meaning of Conservatism.

    They both are working towards the same ends. GW increased the national debt 4_ Trillion dollars under is reign. He shoved the Patriot Act down our throats… (don’t you just love that name…the “Patriot Act”…where we can now spy on citizens w/out so much as a lick of reason?). So don’t think I’m a GW supporter…I surely am NOT.

  • avatar
    Rastus

    Since America has no money and is essentially 12T in debt…just where do you think it is getting this 3 Trillion bonanza they are loaning the banks?

    From the very BANKS THEY ARE IN TURN LOANING IT TO!!! And where are the banks getting it, since they are bankrupt and asking for bailouts??? Out of thin AIR!!!

    All the while you must PAY! And pay some more!

    Now are you starting to realize how corrupt this is???

    Come on, my friend…think!!

    Maybe you and I SHOULD share a beer or two!!! :)

  • avatar
    akitadog

    Rastus, I fail to see what GW did? I suppose what I outlined above doesn’t count.

    You’re also making a big assumption with your “partisan” line. I’m no Obama groupie ( I’m registered “no party”). I did vote for him, but you don’t think McCain would have been any better, do you?

    I’m not all happy with the stimulus, either. I think some parts are ridiculous, like the auto bailout, and the money for banks, I say let them fail. But I do agree with parts of it, such as the money for infrastructure work that’s long overdue, and the investments into alt energy, and education, which all we’ve done so far is talk about, and never had the balls to “spend” for (that word that frightens conservatives everywhere, when it isn’t THEIR spending). Those are “investments,” not giveaways. I’m on the fence about Obama’s healthcare ideas.

    I take umbrage with your “lowest common denominator” stereotype-laden rant. It sounds like what you’d hear from someone down on his luck, who’s been sitting on a barstool too long, and should have closed out 3 drinks ago.

    Be clear, I’ll rave against any more stimulus packages, should they come, but your over-simplistic verbal tirade was begging for an answer.

  • avatar
    Rastus

    Please don’t glorify it by calling it a “Patriot” Act…or a “Stimulus” Package…

    Simplifying things enables one to sell something…and believe it or not, it does sell. Take a negative and give is a nice glossy title, …take slavery and package it as as an “investment”…and well, you have 90% of Americans nodding their heads up and down.

    As far as being down on my luck…I found out today after work (via email) that I’m being terminated tomorrow. Am I drinking???? Hell no….I’m feeling pretty damn good.

    Gonna take the POS Chevy for a road trip…check out the Black Hills area in Springtime…. The sooner I put 200K on the POS the sooner I get to buy a new Toyota :)

    Have a good night. Slavery – Bad. Economic Freedom – Good.

  • avatar
    PeteMoran

    Debt is OK as long as you invest it in Productive Things. The private sector does it all the time.

    Those can be infrastructure (ports, energy), people (education/health) or research.

    The private sector won’t do any of the above for the moment, so Government’s can and should, attempt to grow the productive economy.

    Along the way, you might have to prevent the ‘value’ of private ‘assets’ cratering as might have occurred should the financially irresponsible US financial institutions been allowed to fail. For that, the US taxpayer has an equity ‘investment’ in those institutions; you’ll get it back, sometime.

    Obama is way a better chance than the last guy, and the somewhat-conservative-Republican ‘party’ is proceeding to eat itself, as it damn well should.

  • avatar
    cleek

    @PeterMoran

    The problem isn’t borrowing for investment in “Productive Things”. It is properly determining what is truly productive and pricing risk accordingly.

    Market mechanisms have proven to be the best arbitrator, not central planning. It doesn’t matter if risk is being priced by AIG, GWB or BHO. If it is wrongly priced, the effect is the same.

    Printing money (i.e effectively devaluing the currency) to prop up the “value of private assets” will not increase the real value of the assets. It just makes those assets as well as every other thing more valuable relative to the currency so you get a higher price — for everything.

    The US Taxpayer will get return. It will just be worth much less.

  • avatar
    njoneer

    GM has no leader. Decisions are primarily based on the way thing were done in the past. Sure, a GM lifer sits in the CEO chair, but the company is so big and old, it really just runs itself.

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