Barry to take Control of GM's Board of Directors

chefdennis · Apr 2, 2009

Yeap, after he booted Wagner he said the fed had no interest in running GM or being in the car business.....well it kind of looks like they want Control of GM and they will be making the decisions for the company by replacing the Board of Directors with their hand picked board.....LOL, yeap, the nationalization of the car business is here......Bet all of you barry supporters are just finer then frogs hair over this and happier then a pig in slop......oh dang i forget, YOU WON, its all barrys way, the Constitution be ****ed.....

U.S. Plans Key Role In Naming GM BoardGovernment's Sway Over Firms It Aids Is Topic of Debate

washingtonpost.com

By Peter Whoriskey and Kendra Marr
Washington Post Staff Writers
Wednesday, April 1, 2009; Page A01

The Obama administration will play a key role in reshaping General Motors' board of directors over the next six months, potentially giving it even greater control in the management of the storied American manufacturer.

The president's auto task force plans to consult with the company as it replaces a majority of its board, a White House official said. The board today largely consists of the current and former chiefs of major U.S. corporations such as Coca-Cola, Ernst & Young, Pfizer and Eastman Kodak. It is not known which of the 12 board members will leave.

The president said Monday that "the United States government has no interest in running GM." But in practice it is already exerting tremendous influence over it, a situation that has triggered fierce debate over how much power the government should wield over the companies that it aids.

Kent Kresa, 71, GM's new chairman, said yesterday that company officials will seek to replace a majority on the board by August, as the automaker moves to restructure operations.

"There will be continuing coordination as decisions about the leadership of the company are made," a White House official said yesterday. "Folks from the autos task force will be involved in those decisions."

Kresa, a former Northrop Grumman chief executive who has been a GM director since 2003, was selected to be chairman by the Obama administration after it ousted chairman and chief executive G. Richard Wagoner Jr. on Sunday. Fritz Henderson was named chief executive.

Some critics characterize the White House's removal of Wagoner as a move toward European socialism. In addition to forcing leadership changes at GM, President Obama on Monday said that Chrysler must strike a partnership with Italian automaker Fiat, and that GM must further cut its already shrunken workforce and product lines.

layoutshooter · Apr 2, 2009

Hey, Better watch out!! If you believe in the Constitution you might be a nut or a radical!!! Layoutshooter

chefdennis · Apr 2, 2009

Well barry and his supporters believe in the constitution, they just believe that it is irrelavent..........or open to "change" in anyway they think they want to.........I guess those old guys that wrote it weren't as smart was we all thought they were for the last ohhhh 200 or so yrs.............

OntarioVanMan · Apr 2, 2009

layoutshooter said:
Hey, Better watch out!! If you believe in the Constitution you might be a nut or a radical!!! Layoutshooter

Good one...Nuts and Barrys!*LOL*

layoutshooter · Apr 2, 2009

Hey, I like that one!!!

Layoutshooter

layoutshooter · Apr 2, 2009

Hey, OVM. I wonder if that is way the "Nuts and Barry" crowd did so well in the Granola State, California, you know, the "Land of Fruits and Nuts"? Ya Think?

Layoutshooter