Is Obama Getting Ready To Save Gm Or Bury It

There is currently a real opportunity to take Gm and all of its problems and give it a fresh start. But team Obama is using this window of opportuntiy for a new begining to instead give Gm's rusty old management and apathetic stock holders a sweetheart deal they dont deserve. Gm was not a victim of circumstances but of bad management and negligent stockholders and consequently they ended up with a bankrupt company. And Gm's problems effects all Americans. Obamas automoible adviser Steve Ratner now wants to give these people a second chance and ignore what put Gm in its present condition. Ratner who dosent have the experience or automobile industry knowledge for his current job thinks Wagoner is a good guy who deserves to be treated fairly. A lot people thought Madoof was a good guy. Many of his clients said he was a very charming man. The fact is Gm's managment lied and mislead investors about the true condition of the company. And gave glowing press releases about Gm's future prospects that had no basis in fact. Those are the conclusions not only of Gm's critics but also of the Security and Exchange Commission.
The single most important factor in turning Gm around is the management team that will be picked to run it. By not forcing Gm into bankruptcy the government is giving current mangement and stock holders influence in deciding who will lead Gm. The current managment group led by Butch"Dog Face"Wagner could end up keeping their jobs and that would be bad since they are the cause of most of Gm's problems.
Gm and Chrysler need to be nationalized. Like that the government would have more control and supervision of Gm's management and be better able to moniter the situation. Ratner dosent have the depth for this. It requires someone with intimate knowledge of the industry and who knows the talent and where to find it. Fiat just a few short years ago was a walking corpse and today its been turned around and a viable company. It was new management that made this possible and government supervision by the Italian government. Italy decleared that Fiat was to important to fail did everything it could to save it. The Obama administration is going to have to do the same thing for Gm otherwise we are going to have a long hard depression.