Quote:
Originally Posted by Splum
What are you talking about, GM is a publicly traded company. The government LOANED GM money they didnt BUY stock. You want to know the real reason? Because STOCKS normally go UP when a CEO resigns which gives the company more money AND Im sure some of Obamas friends will make a nice nickel when they sell their shares tomorrow.
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It is pretty simple. If your company is about to go bankrupt and you come to me asking for billions in loans to help dig you out of your hole, I can set some conditions of the loan. If I say that I want the CEO that lead you into the downward spiral gone or no loan the company, and that CEO, have a choice. If they want him to stay, then they can get the money elsewhere. Nobody is forcing them to take the money.
He was in trouble before this stipulation ever came into place. There was talk of ousting him after their first appearance before congress a few months ago.