The AP reports that Rick Wagoner, CEO of General Motors will resign effective immediately on Monday. The way the AP reads, it sounds like the Obama administration may have had something to do with it.
The move comes on the eve of President Obama unveiling his plan to reinvigorate the U.S. auto industry. Obama and other administration officials have said they would demand deeper restructuring from General Motors Corp. and Chrysler LLC before they would get any more government loans.
Shhh. Can you hear the approaching footfalls of nationalization?
As it turns out, the White House did request that Mr. Wagoner step down. It's a wonder how the shareholders and board of directors could not make this decision in the 6 years that Wagoner served as CEO of the auto-giant, but Barack Obama can look into the company for only a few weeks and see it needs this drastic change.
And to think this whole time we thought the blame for this decline should be placed directly upon the United Auto Workers and the union's unwillingness to compromise with the company to keep it afloat.
Our great and powerful president knows what is best for each of us and our companies better than we know ourselves.
Isn't socialism going to be wonderful?
How did Obama see this when the rest of us missed it?
Consider your values: keeping free markets strong.
Consider his values: socialism mingled with getting reelected.
Now do the math:
1 man (aka, Wagoner) -or- 1,000's of UAW members (aka, democratic voters)
Now do you get it?