Anyone else troubled by this? The Obama administration is now making personnel decisions – in private companies.
The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.
Wagoner’s resignation was one of the remarkable strings attached to the new aid package the administration is offering GM, 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.
The surprise announcement about the classically iconic American corporation is perhaps the most vivid sign yet of the tectonic change in the relationship between business and government in this era of subsidies and bailouts.
I would not know Rick Wagoner if I tripped over him. But I am very troubled by a government that offers aid, then punishes those who take the offered hand. This is now happening at the executive level, not just the legislative.
It says rather a lot about the integrity of the government right now.
None of it good.