The General Motors (G.M.) Chairman and chief executive, Rick Wagoner resigned on Sunday. His resignation is connected with the integration of Chrysler and Fiat and the reduction of production costs. The next chief, Frederick Henderson, will be obliged to replace the all directors. The President Obama Administration will give G.M. 60 days to present cost-cutting and restructuring plans. President Barack Obama said that Chrysler has 30 days to bargain with Fiat. If this transaction is done, Chrysler will receive $6 billion. The Obama Administration didn’t fire Robert Nardelli because he started work for Chrysler since 2007. The Ford Motor Company is in better shape than G.M. and Chrysler and doesn’t need any help from the Government.
The first Polish Website WP.PL commentary on restructure of motor company speaks about intervention in privet sector of American Industry. Some, ironically, said that General Motors (G.M.) now has a name: Government Motors.
Is this the beginnig of the end of the ‘free market’ in the USA?
Obama extends short federal lifeline to GM, Chrysler (watch it!)
Auto CEOs Tell Congress Why They Need $25b
Charlie Rose and Bob Nardelli
Rick Wagoner resigns, Chrysler & GM to close in two months
Retreived March 30, 2009 from wp.pl
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