GM CEO resigns @ Obama's request

[Kdillard]

http://www.politico.com/news/stories/0309/20625.html


"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.

The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason."


Yikes, it will be interesting to see who takes over and what the specific plans are for the auto industry on Monday. It doesn't sound too good. Also why do they have to poison what Obama has done by drawing comparisons to the hiring of Liddy by Paulson.

[saltpoint]

1. dupe

[screembloodymurder]

2. Rick & Co. should have resigned long ago.

Their secret plan was retro-engineering. Back-to-the-fifties with GM.

[Kolesar]

3. So, what health care plan will the prematurely terminated employees get?

"Everybody is going to have to give something." Is health coverage something that we can get by with "half" of?

[Kdillard]

4. I guess we will find out tomorrow.