Word: ceo
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...buyers and sent a strong message to the United Auto Workers union and bondholders that the government is dead serious about implementing a major restructuring of both companies - and won't wince at bankruptcy if that's what is required to get the job done. GM's new CEO, Frederick A. Henderson, basically repeated that message at his Tuesday-morning press conference, even going so far as to say that bankruptcy was now "more probable," though not desirable. (See pictures of the remains of Detroit...
...seems improbable that GM could lose that many customers so fast. But, Rick Wagoner, recently departed CEO of the company told Congress last December that consumers won't buy vehicles from a bankrupt company. Some of the people at the hearings figured Wagoner was bluffing, trying to convince Washington that a Chapter 11 filing would bring an end to the firm's ability to market its products because customers could turn to cars made by competitors which were in reasonably good financial shape. But, most research done recently indicates that Wagoner was probably right, at least right enough that...
...Dick Fuld, the stubby ring-fingered, ex-CEO who ran Lehman Brothers into the ground, suffered a black-eye, and then blamed everyone but himself...
...first major overseas trip as president, Barack Obama has a G-20 meeting, a NATO summit and a roundtable discussion in a Muslim country on the itinerary. But at a morning briefing the day before his departure - as reporters focused on the ouster of General Motors CEO Rick Wagoner - Press Secretary Robert Gibbs didn't field a single question about the President's trip. It was a sign of how ubiquitous and rote presidential foreign travel has become. (See the 10 Ideas Changing the World Right...
...investors on the sidelines while funding remains sorely needed for the building of new ports, power plants and roads across this huge nation. "Lots of projects were showcased but very few have been realized because of classic issues like labor laws and the overall investment climate," explains Sandiaga Uno, CEO of Saratoga Capital, a venture capital firm. "Very basic issues like the bureaucracy and land availability have stifled infrastructure efforts...