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Originally Posted by bigearl

First let me say I don't want GM to fail, and I think they have what it takes to succeed. I also want the whole process to stay above board and honest. The Government has a whole task force on cars now. They own 61% of GM's stock. I understand optimism, but it seems like people weren't paying attention and forget what they don't want to hear:



http://www.washingtonpost.com/wp-dyn...033101521.html

"There will be continuing coordination as decisions about the leadership of the company are made," a White House official said yesterday. "Folks from the autos task force will be involved in those decisions."

"There's a new CEO and new chairman of the board," said Rep. Sander M. Levin (D-Mich.). "The government will play an active role as with Fannie Mae, Freddie Mac and other institutions with a major investment from taxpayers."

http://online.wsj.com/article/SB124834709924575511.html

"The Treasury Department completed its makeover of General Motors Co.'s board, naming five new directors with backgrounds in the telecommunications and private-equity industries."

"The new board is led by former AT&T Chief Ed Whitacre, who was named GM's chairman by the Obama administration in June. The United Auto Workers, which was awarded a board seat after it made major health-care concessions to GM, named former auto analyst and onetime GM adviser Steve Girsky to the board in June."

Then Dr. Cynthia Telles is voted on to the board by the board of GM (as opposed to by the treasury), a UCLA Psychiatry professor and commissioner of Los Angeles County in a move that GM lauded as helping to restore diversity?

"Dr. Telles also serves on the boards of Kaiser Permanente and Americas United Bank, the largest Hispanic-owned bank based in California. President Barack Obama recently appointed Dr. Telles to the White House Commission on Presidential Scholars, a group that selects scholars to be recognized in a variety of fields."

I'm not saying they're bad choices, they seem to be making some good decisions so far. But the administration chose half the board and decided which half of the former board to allow to stay on. Of course they influenced the direction of GM.

All of what you posted happened during the bankruptcy phase. The Government isn't interfering in the new GM business direction.