Mark B. Morrow Posted March 31, 2009 Share Posted March 31, 2009 (edited) Any institution taken over by the FDIC has its management replaced as a matter of course. At other, larger, institutions, often the CEOs that caused the problems were gone by the time TARP money was being spread around. "Hank" Greenberg screwed AIG, and he's long gone. Ditto Sandy Weill & Citi, etc. There was an interesting story on NPR's This American Life yesterday about how the FDIC goes about seizing a failed bank. It is like an undercover raid usually done over a weekend. The new owners are pre-selected and kept secret. TheFDIC and State regulators raid the bank on Friday at closing time with 80 or so agents, spend the weekend doing a full accounting and the new owner has to open on Monday. http://www.thislife.org/Radio_Episode.aspx?episode=377 Edited March 31, 2009 by Mark B. Morrow Quote Link to comment Share on other sites More sharing options...
J-150 Posted March 31, 2009 Share Posted March 31, 2009 Fritz Henderson gets the CEO's job. replacing Dumb with Dumber. Fritz still comes from the Finance side of the company and as such still has the same myopic view of the car biz Quote Link to comment Share on other sites More sharing options...
J-150 Posted March 31, 2009 Share Posted March 31, 2009 He meant this:http://www.reuters.com/article/marketsNews...=44&sp=true Board of Directors: G. Wagoner Jr.: CEO John Bryan Jr.: GM corp. George Fisher Ph.D.: Kohlberg Kravis Roberts & Co. Philip Laskawy: Fannie Mae Kent Kresa: Avery Dennison Corp. Karen Katen: Pharmaceutical Research and Manufacturers of America Echard Pfeiffer: GM Corp. Armondo Codina: Florida East Coast Industries, Inc. Erskine Bowles: University of N. Carolina Kathy Marinello: Ceridan Corp. Errol Davis Jr.: Board of Regents of the Univ. System of Georgia E. Isdell: Coca-Cola Co. Mark Shannon: GM Corp. http://investing.businessweek.com/business...oard.asp?ric=GM 13 people; 7 MUST GO,, get your programs here, programs here, can't tell a player without a program. Start calling your bookies now,,, put a yard down on your fav's. or at least a dime as a starting point, any Board member hat is GM Corp must go. They are part of the old guard that live in the past. any Board member from a school must go. No real life experience. Only keep Board members that head up profitable companies Quote Link to comment Share on other sites More sharing options...
retro-man Posted March 31, 2009 Share Posted March 31, 2009 as a starting point, any Board member hat is GM Corp must go. They are part of the old guard that live in the past. any Board member from a school must go. No real life experience. Only keep Board members that head up profitable companies Yeah, like the pharmaceutical industry .... oh wait, their day is coming...... or Fanny Mae! .... oh wait, ..... Coca Cola? Quote Link to comment Share on other sites More sharing options...
retro-man Posted March 31, 2009 Share Posted March 31, 2009 Wagoner did get a $20M parting gift. Thanks for playing Who Screwed the Pooch. http://jalopnik.com/5190720/rick-wagoner-r...irement-package $20m is all well and good, but you can't retire on that. Not in this day and age. Poor Rick's* going to be looking for a non-union assembly line job. Didn't the last administration have "hamburger assembly" re-classified as manufacturing? *Actually, I kind of do feel sorry for him. What a way to wrap up a career. Gotta know when to hold, know when to fold. The history of GM shows that wasn't his particular talent. Quote Link to comment Share on other sites More sharing options...
Critic Posted March 31, 2009 Share Posted March 31, 2009 Yeah, like the pharmaceutical industry .... oh wait, their day is coming...... or Fanny Mae! .... oh wait, ..... Coca Cola? Pharmaceuticals? humm Foot fungus meds that seems to work as an antidepressant, or cover-ups within that industry. Don't even remind the public about any financial industry exec. seems like the depression of the 20's and '08 rings a bell with me. Perhaps the ages of those board members should be listed and exactly the number of other boards they SIT on.. a perpetual system of serving oneself. They set their own pay, then shoot down any attempt to reign in their own pay or legit referendum's from share-owners that try to get the companies to follow a path, that the board recommends against in the proxy statements. A good French Revolution seems to be in order here: Kemp: A riot is an ugly sink. Unt, vonce you get vone schtarted, zere is little chance of schtoppink it, short of blootshet. I sink before ve go around killing people, ve had better make damn sure of our evidence, unt ve had better confirm de fact dat young Frankenschtein is indeed following in his grandfadder's footschtaps! Townspeople: What? Kemp: Following in his grandfadder's footschtaps. Footschtaps, footschtaps! Townspeople: Oh, footsteps! Kemp: I tink vat is in order is for me to pay a little visit on ze good doctor unt to have a nice, qviet chat. Quote Link to comment Share on other sites More sharing options...
Mark B. Morrow Posted March 31, 2009 Share Posted March 31, 2009 A French Revolution: Madame DeFarge: We are so poor, we do not even have a language! Just this stupid accent! Fellow Revolutionist: She's right, she's right! We all talk like Maurice Chevalier! [impersonates the Chevalier laugh] Fellow Revolutionist: Au-haw-haw. Crowd: Au-haw-haw. Count de Monet: It is said that the people are revolting. King Louis XVI: You said it! They stink on ice! Quote Link to comment Share on other sites More sharing options...
retro-man Posted April 1, 2009 Share Posted April 1, 2009 :hysterical: LOL. You guys are killing me. Young Frankenstein - one of my favorite movies. Quote Link to comment Share on other sites More sharing options...
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