GM CEO Rick Wagoner is resigning, Rick Wagoner Career News

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GM CEO Rick Wagoner is resigning, Rick Wagoner Career News

On Sunday, the media reported that Rick Wagoner, the CEO of General Motor, agreed with his retirement order that given by the USA elected President Barack Obama, before Obama announced that US government has the package for rescuing the auto industry.

The source who known as one of the White House official said Rick Wagoner ordered by the Obama administrator retired from his position in General Motor as the CEO thus Chairman in this company, and then he agreed with Obama’s decision. However, the media still confused what the true reason is. 

One of the US media, Wall Street Journal reported that Obama and other administration officials have said they would demand deeper restructuring from General Motors and Chrysler before they would get any more government loans.

On Monday, Obama explained his planning for rescuing the auto industry, which called as the sector that will help by US government with billions dollar to handle the economic recession.  

However, Obama, the US president keep told that all of the manufacturing, which dived in auto industry sector, should work harder than before if they wanted required to get the government aid.

Obama said to CBS television that they are not there yet. He also said they thought they could have a successful US auto industry. However, it has to be one that is realistically designed to weather this storm and to emerge — at the other end — much more lean, mean and competitive than it currently is.

Obama warned for all of the US auto industry to defend in this condition when they sat at the end of the horn of bankruptcy in the middle of the deep recession especially when the car purchasing moved downward. 

General Motors and Chrysler qualified and goal got the government rescue, which approved in December as they effort defend their storm condition. However, they proposed again the government emergency aid as much as 21.6 billion dollar after they got the aid as big as 17.4 billion dollars before.

In the other hand, this thing appears the new matter and many manufacturing complaint about the new propose from both of these company. One of the companies that comment about it is Ford, the auto manufacturing that include into the Detroit’s Big Three. This company said commented that it has enough cash to survive the downturn without government aid.

GM CEO Rick Wagoner is resigning, Rick Wagoner Career News on Finance and Business

Tags: General Motor, GM CEO, resigning, Rick Wagoner