The End Of a Era?
Senior Member
Joined: 03-28-2008
Posts: 1,115
From: Oshawa
At the end of May, the govt. and GM will end up in a controlled Bancruptcy. Just pray that they know what they are doing. Anyone that did purchase a vehicle prior to this plan may not be eligible for full warranty.
Anyone have any news on this warranty plan?
Anyone have any news on this warranty plan?
Senior Member
Joined: 03-29-2009
Posts: 1,097
From: Quebec City
Founding Member
Joined: 11-23-2007
Posts: 8,210
From: Texas
BY JEFF GREEN AND DORON LEVIN • BLOOMBERG • JUNE 7, 2009
Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp.
It was March 27, almost nine years after he become chief executive officer. He'd been summoned by Steven Rattner, the Wall Street deal-maker running President Barack Obama's auto task force.
He didn't know Rattner's team had decided it needed to break GM in order to fix it. Wagoner, unwilling to consider bankruptcy, was in the way.
Rattner asked Wagoner for a one-on-one chat in his office. He told Wagoner it was time to step down.
Wagoner returned to the meeting room and told Chief Operating Officer Fritz Henderson and Chief Financial Officer Ray Young that he was fired. They were shocked. Some board members were furious.
"I want out," said one GM director. "When they made the decision to fire Wagoner without talking to the board, that did it. We had a conversation with Rattner. I told him it's our responsibility to pick the CEO."
Wagoner declined to comment for this report. People who know him say he is still upset and spending time at his vacation home on Daufuskie Island, S.C.
Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp.
It was March 27, almost nine years after he become chief executive officer. He'd been summoned by Steven Rattner, the Wall Street deal-maker running President Barack Obama's auto task force.
He didn't know Rattner's team had decided it needed to break GM in order to fix it. Wagoner, unwilling to consider bankruptcy, was in the way.
Rattner asked Wagoner for a one-on-one chat in his office. He told Wagoner it was time to step down.
Wagoner returned to the meeting room and told Chief Operating Officer Fritz Henderson and Chief Financial Officer Ray Young that he was fired. They were shocked. Some board members were furious.
"I want out," said one GM director. "When they made the decision to fire Wagoner without talking to the board, that did it. We had a conversation with Rattner. I told him it's our responsibility to pick the CEO."
Wagoner declined to comment for this report. People who know him say he is still upset and spending time at his vacation home on Daufuskie Island, S.C.
