Obama: A few auto industry CEOs should lose their jobs

During an appearance on NBC’s “Meet the Press” President-elect Barack Obama said that he supports the auto industry aid and called for a short-term government bailout to restructure the entire industry. At one point, Obama suggest that some executives should lose their jobs.

However, Democratic Congress, Sen. Christopher Dodd of Connecticut was far more outspoken on who he thought should lose their jobs as CEOs and pointed to GM’s Rick Wagoner saying that he “has to move on.”

Obama on the other did not single out any single executive but said that the current management...
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kpaxx - 12/8/2008 10:08:47 AM

+3 Boost

I like it!

cantaffordone - 12/8/2008 11:09:44 AM

-3 Boost

What we don't need is a bunch of blowhard polititions telling business how to run things. There is no more disfunctional "business" then the US government.

Chris Dodd is a joke. More responsibility lies on his shoulders than just about anyone else for the current financial mess and I don't see him drafting his own resignation letter.

rocker - 12/8/2008 11:49:02 AM

-3 Boost

Totally agree. If Congressional seats were based on merit and ethics, the Capital building would be a empty hall. Obama, Dodd, Reid, Pelosi, Frank have no business experience, how do they know what should be done?

rocker - 12/8/2008 11:50:21 AM

-1 Boost

But I do agree that no one or company should be bailed out and that includes the financial and insurance institutions.

BigShow50 - 12/8/2008 11:16:43 AM

+4 Boost

With or without the bailout they are buying more "Failure Time". GM and Chrysler will last only for another 12-18 months...mark my words...they can still potentially F-A-I-L!!!...what a waste of tax payers money.

truckman - 12/8/2008 11:48:43 AM

-2 Boost

Half of the reason America is in trouble is because of the Federal Reserve, a private company that Obamma is in bed with, It's all Federal Reserve employees that are supposedly going to fix America, as long as the money people come out on top, and as for GM, I think that they should make around $50,000. a year with health benefits, Until they start making profits all the brass should not make any more than the workers.

dumpsty - 12/8/2008 11:50:00 AM

+3 Boost

the US auto industry will not survive if politicians gain power to run any of these companies.

i would bet that they would chose bankruptcy or to merge with a foreign parent company before they let the American Congress have major decision-making rights for their corporations.

i liked the ideas of cash infusions on the condition that GM & Chrysler merged and set up an entirely new executive structure with maybe 1 or 2 govt-backed specialists on the new corporation's board of executives.

rocker - 12/8/2008 11:52:20 AM

+3 Boost

Worst run company in USA? US govt.

EL34 - 12/8/2008 11:55:42 AM

-5 Boost

Round head goon Obama thinks it's the car companies fault they are in trouble.

It's the UAW stupid.

Too many over paid union workers will destroy any company!!!

I will noy buy any UAW made product while Obama is in.

EL34 - 12/8/2008 11:58:12 AM

-3 Boost

Obama boy should fire those that ran Fannie Mae & Freddie Mac into the ground.

Christopher Dodd & Barney Frank

theoptimisticpessimist - 12/8/2008 4:12:30 PM

+2 Boost

Well, there is a little thing called the U.S. Constitution that gets in the way.

LexSucks - 12/8/2008 2:10:02 PM

-3 Boost

Is Obama even the president yet?

FerrarisR4me - 12/8/2008 2:50:44 PM

+5 Boost

Not officially, but with the lack of work W has been doing they might as well swear him in now. Someone needs to get this country out of the tank that W has drivin it into.

truckman - 12/9/2008 4:06:20 AM

+1 Boost

Its not just W, I have heard from reputable sources that it is the Federal Reserve mostly! Although W helped too, It's so complicated, your average person can't comprehend what the heck is going on with the Federal Reserve, you have to understand money well, from my de-boosting above there are a few that have no clue! just the way the Gov. likes it.