Obama has authority to rid General Motors of its CEO?

Does the U.S. Constitution 'allow' our President to 'fire' the CEO of General Motors? Where did Obama get this authority?



If Obama was so displeased with the way GM was being run, why didn't he and the Dems in Congress insist that GM change its leadership BEFORE loaning the billions? Also, the money is a loan, not a purchase of controlling interest in the company. A POTUS who has never run a business, and whose only experience is running for election, now believes himself able to run companies as large and as complex as GM. To top it off, he now wants to replace the entire board of directors and replace them with who he wants as directors. If he appoints GM directors the way he chooses members of his cabinet, GM won't last another three months.




OMG, I am sick to my stomach, to all you people who think this is wonderful, let me ask you a question. If a company goes to a bank, and borrows money does that bank have the right to fire that CEO? Not to mention the CONSTITUTIONALITY.


We are headed toward Communism!





One more thing, Lincoln said:


"Don't interfere with anything in the Constitution. That must be maintained, for it is the only safeguard of our liberties. And not to Democrats alone do I make this appeal, but to all who love these great and true principles".


and:


"It is not merely for to-day, but for all time to come that we should perpetuate for our children's children this great and free government, which we have enjoyed all our lives".


and last but not least:


America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.





President Lincoln, believed in freedom and had a great love for this country, I wonder how he would feel, that the very people he fought and died for, are at the helm of the destruction of the United States.




He didn't fire him, he applied pressure. If a U.S. President asks the CEO of General Motors to step down and he doesn't, it's not going to work in their favor when it comes to sales. Bush should have done it years ago, because Wagoner has been taking GM nowhere fast.




He did not "fire' anyone.





"Wagoner said in a statement early Monday that he was asked to "step aside" during a meeting with Obama administration officials on Friday, and he consented."





Done deal.




The taxpayer is now a majority shareholder....it's as simple as that and has nothing to do with the constitution.




Perhaps from presidents Lincoln and Ford.




If they want his help, they must comply. It is ultimately up to them.