Created Sun 7th Dec 2008 12:59pm PST by

growthy Level 13, Psychic (H$76,016)

Will GM CEO Richard Wagoner step down or be fired before the end of 2008?

Settled as No

He's still in charge, and who know if or when he won't be in the new year. He may step down, but probably won't be 'fired' since the money is in the pipeline from the Feds........

Background:

Background: WASHINGTON, Dec 7 (Reuters) - General Motors Corp. should replace its chief executive if it receives emergency government loans to avert likely collapse, a U.S. senator drafting bailout legislation said on Sunday.

"I think it's clear GM is in the worst shape. Chrysler is, I think, basically gone," Dodd said as Democrats and the White House continued negotiations on terms for a $15 billion bailout of the distressed industry.

Dodd agreed with suggestions by fellow lawmakers that GM should probably consider replacing CEO Rick Wagoner and restructure with a new team.

"I think he has to move on," Dodd said.

http://www.reuters.com/article/mergersNews/idUSN0749277320081207

Settlement details:As reported by a major mainstream news source.

Forecast history %

Yes

95%

Settled as No on Fri 2nd Jan 5:46am PST

Activity: H$68,654
Predictions: 146
Comments: 5

Suspend date: Wed 31st Dec 2008 11:59pm PST
Settlement date: Fri 2nd Jan 5:46am PST
Prediction cut-off: Predictions on this question after Wed 31st Dec 2008 11:59pm PST have been voided because they were made after the question could be settled

Initial likelihoods: Yes: 40%

Action history:

Created Sun 7th Dec 2008 12:59pm PST by

growthy Level 13, Psychic (H$76,016)

Suspended Wed 31st Dec 2008 11:59pm PST : Suspend date reached

Settlement requested Thu 1st Jan 4:08pm PST by

pixelpaws Level 13, Psychic (H$66,894)

: Somehow, he hasn't been fired yet. So no, he's not stepped down or lost the job.

Settled as 'No' Fri 2nd Jan 5:46am PST by

bayoubear [Admin]

: He's still in charge, and who know if or when he won't be in the new year. He may step down, but probably won't be 'fired' since the money is in the pipeline from the Feds........

hide

Get widget!

Predictions (146)

46 weeks ago

destry [Admin]

predicted No (H$10,000 at 94%)

46 weeks ago

felix

predicted No (H$200 at 92%)

46 weeks ago

gotmick Level 15, Seer (H$274,273)

predicted No (H$2,500 at 92%)

46 weeks ago

onedave [Power User]

predicted No (H$20 at 90%)

46 weeks ago

ssc69

predicted No (H$100 at 88%)

Comments (5)

deanthoreau

Can hardly wait to see the size of that golden parachute. And like many other companies, instead of broadcasting it, it will just be places in a special foundation for his benefit. Then he doesn't have to report it and GM does not have to disclose to the SEC.

posted 49 weeks ago

coolkraft Level 14, Prophet (H$130,243)

http://www.foxnews.com/politics/2008/12/07/dodd-auto-executive-replaced-exchange-bailout/

all of a sudden Dodd is making waves....

posted 49 weeks ago

notablenotices [Power User]

Yeah, and Dodd (along with his other cronies on Capital Hill) doesn't know the first thing about running a company like that.
These people are looking for ways to make their low approval ratings even lower, and ruin what they can of America while they are at it!

posted 49 weeks ago

coolkraft Level 14, Prophet (H$130,243)

these "people" have done nothing of any worthwhile consequence while in office...they all participated in the spoils of the banking fiasco and now they have nothing to contribute in the way of effective solutions for the financial mess. I wish they would all go away.

posted 49 weeks ago

nigeleccles [Admin]

http://online.wsj.com/article/SB122868452234486231.html

I think the chances of him hanging on now are slim. Surely the UAW backing Wagoner is bizarre. These guys should hate the CEO. Probably says a lot about how badly GM is run.

posted 49 weeks ago

Please log in or join to add a comment

Stake virtual dollars on the outcomes of real news stories! Win more if you're right and climb the leaderboards Learn more...

By joining you are agreeing to our terms of service

Related News
This news is selected automatically based on the question, its background, options and tags

score: 10

Treasury Faces Tough Task to Help Detroit

Washington Post 48 weeks ago

$25 billion infusion. Now it may have to use nearly all of what it has left to aid General Motors and Chrysler. 'Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the

score: 10

Treasury Faces Challenges in Aiding Automakers

Washington Post 48 weeks ago

score: 10

Dodd: Automakers Should Consider Making Buses

Mass Transit Magazine 49 weeks ago

they expect to get a lifeline from Congress. Among the caveats included in a 31-page bill to provide General Motors and Chrysler access to $15 billion to stay afloat through March is a requirement that they study the feasibility of making public transit

score: 10

Dont Swap Out Big Three Chiefs, Iacocca Says

New York Times 49 weeks ago

Two days after a powerful lawmaker called for his ouster from General Motors, Rick Wagoner got a tacit endorsement Tuesday from one of the automotive industrys biggest names: Lee Iacocca. In , Mr. Iacocca didnt mention Mr. Wagoner by name, but he made

score: 10

Congress zeroes in on US auto bailout

CHINAdaily 49 weeks ago

so-called 'car czar' and whether to replace executives. Congress is considering loans for at least the $14 billion General Motors Corp. and Chrysler LLC say they need to keep operating through March 31. The legislation may be introduced today, lawmakers