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  • Wall Street Breakfast: Must-Know News [View article]
    Any company that accepts government money has a board that is a failure. It is clear the GM board is a major failure. GM is failing for a multiplicity of problems with the two biggest being legacy costs and sales. They have to cut costs and increase sales to get out of this mess. You can't cut costs when you have to deal with a Union that will not let you cut pension benefits like health care for retirees.
    GM MUST get use to selling fewer cars and their business plan should be geared to that.
    The entire management and board needs to be replaced by the stockholders not the government. Ford is dealing with the same problems and they have not accepted government bail out money.
    The government should pick a slate of successful businessmen to replace the current board if the stockholders are not up to the task. Then let the stockholders vote on the new board. The board should not be forced down the stockholders throats.
    This is a historic day that will change American business forever. We can not let the government take over management of American corporations.
    Mar 30 09:18 am |Rating: +10 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    The Government is going to do a bank up job running GM and if you believe that you will believe the market will hit 14000 by Friday. This administration makes me sick. The answer to all the problems seems to be just give money to bad businesses and hope they recover.
    The businesses have to change their ways they just can't keep doing business the same old way and expect different results. The stockholders and boards must replace management, not the government. Just look at Obama's selections for his cabinet and you will see what I mean; nothing but tax cheats and misfits. These guys are throw offs from the Clinton administration and we expect them to fix the problems, get real.
    Most life time government employees couldn't even run a hot dog stand at a profit, let alone GM.
    Damn it, it is time for the boards and stockholders of these companies to stand up and be heard. Stop caving in to these losers from Washington.
    Mar 30 08:25 am |Rating: +13 -13 |Link to Comment
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