GM CEO Wagoner to step down at White House request
March 29, 2009 6:45pm CST
Here's the article so I don't forget to link it at the end again. http://news.yahoo.com/s/ap/gm_wagoner OK, so I see this as a serious issue. I think we can all agree, this guy failed, ruined what was one of the greatest car companies, and needed to step down so a better person could try to rebuild this company. That's easy to understand. Should the White House be the ones telling him to step down? Does it worry any of you that the federal government is effectively running this company to the degree that they can do what amounts to firing a CEO? Isn't that why companies have shareholders, board of directors, etc.? I know that with taxpayer dollars in this company they are now open to federal intrusion into what was previously a private business, but right now, I can't name one business the government has run properly. The post office can't even deliver mail to my home half the time, the DMV is a joke, and recently there was a story about how easy it was for investigators to get government issued passports with SS numbers of dead people, or children.
• United States
30 Mar 09
I dont anyone else could have saved GM either. The union, bond holders, and legacy costs that go to retirees is what killed GM, not the CEO. I am curious as to why the Obama camp asked him to step down, since they have no problem letting the CEO's of all them crappy financial banks we bailed out, keep their jobs. Pretty lame if you ask me.