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Dung!!! Who is STEPHEN MASSOCCA
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Posted by SDP (more from SDP) on Tue, 1 Dec 2009 14:37:47 Share Post by Email
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NEW YORK (Reuters) - General Motors Chief Executive Frederick "Fritz" Henderson will be stepping down and be replaced by current Chairman Ed Whitacre according to sources familiar with the discussions.
The following are comments from analysts and other market sources on the change at the top at the largest U.S. automaker.

COMMENTS

STEPHEN MASSOCCA, MANAGING DIRECTOR OF WEDBUSH MORGAN, SAN

FRANCISCO

"If there's a story anywhere more broadly, I think it's going to be difficult to get market compensation at these government-run companies, you're going to be living in a fish bowl and you're going to get hauled in front of Congress whenever to get a paddling.

"People who have options in life are going to look at that and say, 'why am I going to do this?' You start looking at companies like AIG, Fannie Mae and Freddie Mac, ultimately you're not going to have talented people working or running these companies because there are going to be better opportunities elsewhere.

"I have no idea if that's the motivation for Fritz Henderson to resign or if he was pushed out because of not being able to sell the piece of dung that Saab is. I don't know, but if there's any kind of a broad story, that would be it."


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