Quote:
Originally Posted by Berean
You're kidding right? The Treasury Dept appointed 10 members of the board. For those who may be unaware, the Treasury Dept is part of the Federal Government, and the Secretary of the Treasury is a cabinet member of the Obama administration.
You might want to check this out: http://www.nytimes.com/2009/07/24/business/24auto.html
Some excerpts:
"The Treasury has appointed a total of 10 members to the new G.M. board."
"The Obama administration wanted nearly a clean slate of directors to ensure that the company would move away from practices that led to its downfall and last month’s bankruptcy filing."
The Obama administration wanted....... Really? That sounds kind of like they control it. |
Thank you. Also, Bob Lutz admitted the Government appointed EVERY MEMBER of the Board. It was on CNBC on 7/22/2010. And that news was posted by a Camaro guy.
Quote:
Originally Posted by UCI CamaroFan
Bob Lutz on CNBC yesterday said that the GM line is the strongest that it's been in 50 years.
At the same time, he did admit that GM = Government Motors. He said that the board of directors were all appointed by the government, and he said that because of that, the government has given its approval of the purchase of the finance agency.
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So since the Government appointed the entire Board of Directors, and the President hand-picked the current CEO and said Board appointed him, saying the Government is running GM would be a true statement.