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road kill
03-31-2009, 08:54 AM
Why is the CEO of GM dismissed, but not the CEO of AIG???


Your thoughts on this??

badbullgator
03-31-2009, 08:58 AM
Why just the CEO and not the BOD???

Gerry Clinchy
03-31-2009, 09:34 AM
Wonder what Wagoner's severence package is like? :-)

Wonder if the "Administration" has done their homework and knows what it will cost to move him out?

Someone has suggested that since the CEO of AIG has agreed to continue his position for $1 year, the Obama administration could offer to do the same thing ... as sacrifices are asked of everyone else.

brlcon1
03-31-2009, 11:08 AM
Not to sure about AIG's ceo, although his $1.00 salary isn't much , but I think the prez pretty much laid out his aggenda for GM , Green autos or bust . Doesn't want GM to continue selling so many trucks and suv's even though they are the most proffitable products for the company.

YardleyLabs
03-31-2009, 11:21 AM
Why is the CEO of GM dismissed, but not the CEO of AIG???


Your thoughts on this??

The CEO of AIG -- named Willumstad -- was dismissed as part of the first bailout in September 2008. He had only been on the job since June when he replaced the former CEO who was fired by the board. That's how Liddy, the current CEO, came in. He was recruited out of retirement with the munificent promise of $1/year with no options and no bonuses. He came in after the bonus contracts had already been negotiated and has stated that his primary objective is to restructure AIG in a manner that will cause the company to disappear in its current form and under its current name, with most of its assets being liquidated in an orderly manner to pay off the government loans and other creditors. That is the reason for some of the deference he has been given in his congressional appearances. Liddy ran Allstate prior to his retirement in 2006.

EDIT: To make my point clearer, Liddy was recruited by the Treasury Department to be the CEO of AIG as a condition of the September bailout. More information on this is at http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apuvEIP.a.Ug. (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apuvEIP.a.Ug)

What was done at GM was consistent with what was done at AIG except that at AIG an outsider was brought in as CEO.

Franco
03-31-2009, 11:23 AM
Why is the CEO of GM dismissed, but not the CEO of AIG???


Your thoughts on this??

Because the money contributed to the Obomo campaign came directly from the UAW and not the GM Board of Directors. The AIG contributions to the campaign came from the AIG BoD.

Follow the money...

Gerry Clinchy
03-31-2009, 12:09 PM
... but I think the prez pretty much laid out his aggenda for GM , Green autos or bust . Doesn't want GM to continue selling so many trucks and suv's even though they are the most proffitable products for the company.

Duh?

Gerry

zeus3925
03-31-2009, 06:52 PM
[QUOTE=brlcon1;423025 Doesn't want GM to continue selling so many trucks and suv's even though they are the most proffitable products for the company./QUOTE]

This should read: Doesn't want GM to continue selling so many trucks and suv's even though they were the most proffitable products for the company.

High gas prices GM's killed profit center. The arrival of the recession/ depression compounded the problem. They hid behind an effective lobbying team for years that fought off newer CAFE standards. They got caught flat footed again when gas prices went sky high. For years they turned out chinzy gas mizers. Japanese cars were simply more appealing.

Cody Covey
03-31-2009, 07:59 PM
and reports show that people are buying SUV's again. hence the gooberment wanted to raise gas tax so they can get those nasty SUV's off the road

Mike W.
03-31-2009, 08:03 PM
Comrades, comrades! Settle down. Forget not what Comrade Marx immortalized: From each according to his ability, to each according to his need

Kevin Eskam
03-31-2009, 09:18 PM
Why is the CEO of GM dismissed, but not the CEO of AIG???


Your thoughts on this??

He probably didnt want to bend over and kiss..............


AIG has control of all the pension trust of the US congress! This is why Bear Stearns was allowed to fail and AIG was bailed out.

YardleyLabs
03-31-2009, 09:30 PM
He probably didnt want to bend over and kiss..............


AIG has control of all the pension trust of the US congress! This is why Bear Stearns was allowed to fail and AIG was bailed out.

Is there some reason why everyone is ignoring the fact that the CEO of AIG was a canned by the government last September as part of the bailout!

I even keep hearing idiots on the news wondering why the CEO of GM was canned but AIG was not. He was!