The right move for a very wrong reason
GM CEO Rick Wagoner has decided to step down. This should be greeted as welcome news for everyone except GM's rivals. Rick Wagoner is part of the problem at GM; a generation of managers who can't see the forest for the trees.
However, the reason he stepped down is entirely wrong: the President of the United States "asked" him to.
If it's one thing we really don't need right now it's a totalitarian flavor of socialism (whether it be Communism, Fascism or a new -ism) where the President orders businesses around.
Update: Kent Kresa, the new chairman of the board for GM is a big Democrat contributor. He has contributed thousands of dollars to the campaigns of people like Jane Harman and Dianne Feinstein.
Update 2: It is apparently over for Chrysler. Unless it can sell itself to Fiat (with the help of six billion taxpayer dollars) it will be the first US automaker to fall victim to Obama's war on corporate America.
However, the reason he stepped down is entirely wrong: the President of the United States "asked" him to.
If it's one thing we really don't need right now it's a totalitarian flavor of socialism (whether it be Communism, Fascism or a new -ism) where the President orders businesses around.
Update: Kent Kresa, the new chairman of the board for GM is a big Democrat contributor. He has contributed thousands of dollars to the campaigns of people like Jane Harman and Dianne Feinstein.
Update 2: It is apparently over for Chrysler. Unless it can sell itself to Fiat (with the help of six billion taxpayer dollars) it will be the first US automaker to fall victim to Obama's war on corporate America.