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Is Obama the CEO of GM now?

Discussion in 'BBS Hangout: Debate & Discussion' started by fmullegun, Jun 1, 2009.

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  1. fmullegun

    fmullegun Contributing Member

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    For better or worse it seems we (the people) have majority control of GM. Since Obama is the "CEO" of the government, does that also mean he is the de facto (or even the official) CEO if GM?
     
    #1 fmullegun, Jun 1, 2009
  2. Rashmon

    Rashmon Member

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    It is no longer General Motors, it is now Government Motors.

    Climb on board.
     
    #2 Rashmon, Jun 1, 2009
  3. fmullegun

    fmullegun Contributing Member

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    No thanks. I have always liked Ford better as shown in my vehicle purchases.
     
    #3 fmullegun, Jun 1, 2009
  4. Qball

    Qball Member

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    Majority owner != CEO

    Majority owner <= Board of Directors Chairman

    fmullegun == fail

    end;
     
    #4 Qball, Jun 1, 2009
  5. GladiatoRowdy

    GladiatoRowdy Member

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    Actually, the majority owner just has the most votes for the Board of Directors. As such, the government has a large say in who runs the company, but will not be remotely involved in day-to-day operations.
     
    #5 GladiatoRowdy, Jun 1, 2009
  6. wakkoman

    wakkoman Member

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    So, when do I get my proxy ballot for the board directors in the mail? ;)
     
    #6 wakkoman, Jun 1, 2009
  7. Qball

    Qball Member

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    Usually the majority owner is the chairman but can be a regular board member also. Either way, he or she is not the CEO.
     
    #7 Qball, Jun 1, 2009
  8. Qball

    Qball Member

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    don't worry the govt will "represent" us :(
     
    #8 Qball, Jun 1, 2009
  9. GladiatoRowdy

    GladiatoRowdy Member

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    100% wrong.

    In a publicly traded company, there is not a "majority owner." There might be owners with as much as 5-10% of the shares, but this "owner" is most likely a pension fund, insurance company, or hedge fund. These institutional shareholders might hold a seat on the board, but only in a small number of cases.
     
    #9 GladiatoRowdy, Jun 1, 2009
    Last edited: Jun 1, 2009
  10. Rashmon

    Rashmon Member

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    You got that proxy vote back in November 2008.
     
    #10 Rashmon, Jun 1, 2009
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