GM CEO resigns at Obama's behest
By MIKE ALLEN & JOSH GERSTEIN, Politico
The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.
On Monday, President Barack Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler. The plan is based on recommendations from the Presidential Task Force on the Auto Industry, headed by the Treasury Department.
CENTRAL PLANNING ANYONE?
If I had been Rick Wagoner, I'd tell the POTUS, thank you for your opinion, but the best thing for this company is for us to declare bankruptcy (with the government backing all factory warrantees) and break the union contracts, get rid of the legacy costs, sell off Hummer, dump Buick, break off Saturn, and focus on the core brands, Chevy (mid size autos), Cadillac (luxury), GMC (pick-ups & SUV's). Crank up streamlining (build to order, anyone?) and get this company focused.
Instead, our POTUS (& former community organizer) will print more money to bail out his largest political ally the UNIONS. For BHO it is all about the UNIONS!!!!
FOLLOW THE MONEY!!!!!