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So the President can fire the CEO of Corporations now?

  • Thread starter Thread starter wrightme43
  • Start date Start date
When I think of American government, I think of a marathon that needs a runner.

I think of the gigantic debt as a huge distance that needs to be recovered. There's only one athlete who can represent the nation, so everyone chose Barack Obama.

Like a typical overconforming athlete, it's common for the unfavorited ones to be tempted into taking performance enhancing substances or use the ends to justify the means.

I'm not saying Obama is cheating, but I wouldn't be surprised if other administration systems have made certain offers. My point is, if the United States government has become deviant by performing questionable actions then I'm allowing it; only if it's to resolve the situation positively.
 
wrightme43 said:
Thats exactly it man. The only way to fix this country is to remove the bad debt and bad products that are being counted at par on balance sheets.

Everybody knows they are worth 30cent on the dollar but they are being shown at par.

Bancruptcy is the only effective way to move debt than can not be paid. This hide the rotten salami game they are playing with our finacial market has got to stop, but firing the CEO of company because he caused Obama to lose face is pure dictatorial behavior. That is not Obamas choice. That is the shareholders choice.

Can he now just go in right a check with our money (that doesnt exist) (that we were 300/1 against) and fire the CEO of HP? maybe he doesnt like how the manager at dairy queen is running the place?
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when u give someone a loan in the amount GM received....you pretty much own the company. without you it would have died. you are nursing it back to health. in the meantime you own it. when it is able to be independent again it will be just that....independent.

GM gave up its independence when it said, "hey we messed up royally we will die please help us, without you all is lost, we fail". so now they have to do as their told to get back into the black. when they are they will be independent again.
 
lonesoldier84 said:
when they are they will be independent again.
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There's the problem. Who told you that? It wasn't Obama. Where is the exit strategy here? They never said this is temporary. They never said when or even if they will withdraw. If you're broke and I loan you money to pay rent, do I then get to decide weeks later that you owe me 90% of your paycheck, or who you get to associate with, etc.? These are terms that come up AFTER an agreement is reached. The government has awarded themselves free reign to do whatever the hell they want. Contracts and laws are meaningless in this environment. They SIGN INTO LAW an agreement that AIG executives specifically get to keep their bonuses, then as the political winds change they are OUTRAGED that this could happen and back out in the form of an illegal unconstitutional bill to tax specific people 90%. Does that sound like someone that is helping the situation, or someone drunk with power that has no check or balances to curb such outrageous behavior?
 
no but if the admin did nothing about those aig bonus.. just said.. well they are happening.. peopel would have been even "more" outraged.. so of course they side with public opinion and are outraged as well...
 
I absolutely find this appalling, and the markets are reacting accordingly. Since when does the President have any say in a publicly traded company who the CEO is? The repercussions will be felt for many years. If you were CEO of Ford, how would this make you feel? Yes, GM should have started bankruptcy by now to restructure and get the years of sloth like management gone. It is like the current administration has no grasp on how to handle these situations. You had Geithner saying that he was not opposed to a different currency than the Dollar for trade. He is the Secretary of the Treasury, whos job is to ensure the stability of the Dollar!!!!!! Will someone plsease tell these feckless idiots that their words, actions and policies matter. Play time is over, these are real people and real corporations the government is dealing with, by politicians who could not run a lemonade stand effectively.
 
Hellgate said:
The Board of Directors is who the CEO reports to, the board reports to the shareholders. The government has not part in this unless a law is broken.
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To all, not just Pete: When the business asks the government to step in and provide funds as a bail-out, the government becomes the effective decision maker in the business and has certain rights.

Someone has to be the fall guy. That usually starts at the very top.
 
except after readding a bunch of news (i know i know).. it seems that he was "asked" to step down and he did.. i supposed he didnt have to, but who really wants to get into a fight with the feds.. either way, he was removed and good riddence...
 
wrightme43 said:
How bout them apples????


Doesnt that smack of dictatorial behavior? Are shareholder meetings a moot point now? Does all voting stock now become non voting stock if the owners vote doesnt jive with the Presidents position???



I have to say Mussolini and Castro both had more tack than this fruit loop.
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Someone has to help run these companies...it was a stipulation of the loans and the auto makers failed and are not paying back the government. JUst like me the ceo's are responsible...I say fire more ceo's. they are busy giving my tax dollars for their bonuses. Thats more criminal than anything.
 
FZ6inNH said:
To all, not just Pete: When the business asks the government to step in and provide funds as a bail-out, the government becomes the effective decision maker in the business and has certain rights.

Someone has to be the fall guy. That usually starts at the very top.
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Yes but per the terms and conditions of the loan.

On a side note the whole notion of government ownership is very interesting, unless the government BUYs share they don't own anything but DEBT. Now if the company who received the loan goes bankrupt the government would be the primary creditor and would be the first in line during the bankruptcy process. Gotta run more to follow...this is a grea thread! : )
 
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stevesnj said:
Someone has to help run these companies...it was a stipulation of the loans and the auto makers failed and are not paying back the government. JUst like me the ceo's are responsible...I say fire more ceo's. they are busy giving my tax dollars for their bonuses. Thats more criminal than anything.
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Not to pick on you, but I love how their bonuses keep being brought up. It's just masking the amount of money, which is all tax dollars, is actually being wasted by the government.

People are complaining about these millions. Go and look at the numbers:

It is like if you were behind on rent, and someone gave you $1000 to cover your rent, then, you took $1 of that, just one and bought a coffee and paid the $999 left over for the rent.

That's how much money out of what was given went for these bonuses. Look at the numbers and you'll see this is representative. And, people fail to regocnize the fact that these bonuses are essentially the salary for these executives for terms up to several years, they are not "performance awards".

But, I don't think they should get any tax money anyways.

I'm going to become president and fire Ronald McDonald.
 
LERecords said:
no but if the admin did nothing about those aig bonus.. just said.. well they are happening.. peopel would have been even "more" outraged.. so of course they side with public opinion and are outraged as well...
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I think you haven't researched the situation fully, the administration DID do something about them, they authorized them and wrote them into the "stimulus" bill through Chris Dodd, specifically allowing these AIG bonuses. Then when the public was rightly outraged by this they pretended to be "shocked" and went and broke the constitution to protect themselves politically from the fall out. Chriss Dodd and Obama both received over $100K from AIG AFTER they received billions in bailout funds. Kickbacks anyone??? That was OUR money they took, to use for their own campaigns.
 
dako81 said:
Not to pick on you, but I love how their bonuses keep being brought up. It's just masking the amount of money, which is all tax dollars, is actually being wasted by the government.

People are complaining about these millions. Go and look at the numbers:

It is like if you were behind on rent, and someone gave you $1000 to cover your rent, then, you took $1 of that, just one and bought a coffee and paid the $999 left over for the rent.

That's how much money out of what was given went for these bonuses. Look at the numbers and you'll see this is representative. And, people fail to regocnize the fact that these bonuses are essentially the salary for these executives for terms up to several years, they are not "performance awards".

But, I don't think they should get any tax money anyways.

I'm going to become president and fire Ronald McDonald.
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While I agree it was an total smoke screen I totally disagree that we shouldn't be furious over it (if that's what you mean). The story isn't these bonuses, it's the blatant lies from the administration, the treasury, and Chris Dodd, who not only knew about them but specifically wrote them into law. It is absolutely absurd, and apparently a lot of people just swallowed it. Unbelievable. And while all of this was going on the government was quietly inventing $1 trillion dollars. Beck had an excellent point, no one talked about it. Like we all have our heads buried in the sand, we don't want to know what effect it will have. Now Russia and China are aggressively moving to drop the dollar, not just for political reasons, but because we just watered down our entire monetary system, INVENTED A TRILLION DOLLARS OUT OF THIN AIR, and didn't want to perhaps discuss this first. You saw a quick burst of stock market gains that looked good for a moment (further masking the dire straights we are in as a result of these policies) but now that the public is getting a wiff of national socialism, outright hostility to private business, declining value of the dollar, impending hyperinflation, utter uncertainty of what our new in your face style of unconstitutional government attacks on public companies, and the attempts at cap and trade, not only nationally but internationally, which will cripple American industry while throwing gas on the fire for hyperinflation (pun intended), we're in for wild ride.
 
but look at curency charts.. the dollor is gaining on most of the major currency around the world.. the euro, the pound.. others probably (i only watch a few).. the dollar is gaining on all of them.. so its strangs that so one isnt really bginging up how the govt. made up a trillion dollars by just printing it up...

but all the other points are good too :)
 
This is a freaking awesome thread. I want to thank every one for posting in and discussing thier ideas like grown men.

You have no idea just how happy it makes me, since any political discussion came very very very close to resulting in a permaban for the users who took part.

I want to make sure you all know wether I agree with you or disagree with you I am very glad to have the chance to discuss these things with you.
 
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Just wanna make sure you have a real idea of what the bonus everyone is up in arms about is, compared to what the real problem is.
 
Now is that little green line a distraction????

Let me ask you this. What if AIG was being used as a conduit thru which the treasury and the fed with the president involved to funnel 600 billion dollars to banks.

Post a freedom of information act request for a accounting on the 600billion spent so far. (Opposed at the rate of 300-1) by the citizens of the US. Just ask. The answer you get is NO!!!! No info for you.
 
Most people are going to allow overconformity if the end result will be in favor of the nation.

Some people will think Obama will be a hero for taking more control of the companies that once inflated the United States.

One thing that's weird is all the people I knew (Canada) wanted Obama to be elected. Now, I have some relatives who live in the United States and they didn't seem to like him. They either wanted McCain or didn't care enough to vote.
 
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DOUBLE POST

Here's a little idea I had:

How about Obama puts money into the Chevy Volt project? Wouldn't that help BOTH his environmental plan and the GM car company at the same time?
 
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