Not that the boys at General Motors have done a bang up job or anything the last few years, but . . . I keep thinking that if the Obama crew would just focus on getting the banks fixed and credit flowing again a lot of this US business pain and suffering would self-correct. Of course, that would get in the way of the Mighty O’s channeling of his inner Hugo Chavez. Still, if any other U.S. companies are considering asking this government for a hand up, they now know that it’s gonna be a “Hand Up The ‘ol Wazzoo!”

Bottom line — the termination of GM C.E.O. Rick Wagoner was more Obama Kabuki theater gone wild — a sacrifice to the general public that would still rather buy a big pick-em-up-truck than a sh_t-box tin can, now that gas is again around the two buck mark.

Jeremy Anwyl, chief executive of the automotive Web site Edmunds.com, called the move “political theater” to appease an increasingly bailout-weary public.

“American taxpayers are not happy,” Anwyl said. “But this way you’re able to point to Rick and say he’s gone, and that creates an environment where the loans become politically palatable.”

By all accounts, Wagoner made progress in fixing GM. While CEO, he cut its U.S. work force from 177,000 to roughly 92,000 today.

Wagoner also closed factories; shed the unprofitable Oldsmobile brand; globalized GM’s engineering, manufacturing and design to save billions; and led a resurgence in quality and performance of its long-neglected cars. In 2007, the company reached a landmark agreement with the United Auto Workers that shifted massive retiree health care costs to a union-run trust and ushered in a $14-per-hour wage for new hires, about half that of a current laborer.

But critics, including many members of Congress, say Wagoner moved too slowly, failing to cut enough of the company’s huge health care and pension costs, and relying too long on high-profit pickup trucks and SUVs as gas prices rose and the market shifted toward smaller vehicles.

In the past four years, GM has piled up $82 billion in losses.

Still, Wagoner had the company moving in the right direction, Anwyl said.

Who’s next? Who knows. The Obama crew wants sweeping new powers from Congress to take over financial companies that are not banks, if they feel like it. Maybe Ford should keep an eye in it’s rear view mirror. After Chrysler is gone . . . they’re probably next!

Cause, like in the movies — “He’ll be back!”

[Update]

Laer Pierce offers this:

Who’d have thought a year ago that the federal government would today have the power to force out the head of a private corporation? And yet, curiously, those same powerful hacks seem to lack the power to remove Ron Gettelfinger, the president of the UAW. I wonder what’s up with that …

You know, if I were a less suspicious man, it might not occur to me that the Obamarxists are doing all they can to drive down the value of GM and Chrysler so that were they “forced” to take the companies over for their own good, the cost of doing so would not be so dear.

But I think that’s exactly what they’re doing.

Our fearless leaders seem bent on the destruction of the US economy. At the G20 we’ll see if they want to cripple the world at large, which is what their cap-&-trade plans suggest. Yeah, a good ol’ cap&trade war — big fun for everybody! Totalitarianism rises from the ashes of chaotic destruction like the mythical Phoenix — oh ya betcha!

Over at Track a ‘Crat an ex. pat Brit living in D.C. comments on our Pres and his actions as opposed to his campaign promises.

Some people thought that President Obama, true to his more moderate campaign language, would shy away from his radical tendencies once in office.

Suckers.

Michelle Malkin has this one:

Barack Obama, auto repairman-in-chief, is on TV promising to guarantee that your GM/Chrysler car gets serviced and repaired.

Only thing he forgot to promise: the free tire gauges!

Heh!

At Hot Air, Ed Morrissey gets this in on the All About The ‘O’ Auto Warranty Program:

Good news, American auto owners! If you’ve been eyeballing a Lexus or a CRV because you want to own a car whose maker will be around long enough to honor the warranty, take another look at Detroit. Instead of handling their own warranties, Uncle Barack and his dog Spot will handle your warranty — along with a hefty new bureaucracy: {…}

This is great news — for fans of the DMV.

{…}

Government does not belong in the business of offering auto warranties. Two years ago, that would have been so obvious as to elicit derisive laughter for even mentioning it. But when we get a bunch of used-car salesmen in the White House and Congress, this is the result.

Double heh!!

Meanwhile, in an unrelated vein, The Anchoress’ Sandra Bullock/Rush Limbaugh dream gets a poster.

Triple heh!!!

Technorati Tags: GM CEO, Obama, Rick Wagoner

This entry was posted on Monday, March 30th, 2009 at 9:08 am and is filed under Automotive Survival, POTUS Obama, Stimulate This!. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.  |   Print This Post  |   Email This Post

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