03-30-2009, 06:38 PM
davester- in defense of our friend Dakota, the media is reporting it as "Obama Fired Wagoner". While the true facts are as noted, it must be pointed out that Wagoner has NOT 'been fired'. According to press releases, he has "agreed to resign" as part of the GM restructuring program. One must assume the GM Board is part and parcel of this entire discussion. As corporate governances go, I would assume that the Government is negotiating with the Board, not one CEO type dude.
And, as noted, it's entirely within the purview of any bank offering to make loans to question and request changes in the organization of the loan recipient as a contingency to the loan. The US is acting like a bank, pure and simple.
And, as noted, it's entirely within the purview of any bank offering to make loans to question and request changes in the organization of the loan recipient as a contingency to the loan. The US is acting like a bank, pure and simple.