The Camel And The Tent

Reports are circulating that GM boss Rick Wagoner, will be soon, very soon, announcing he is resigning. So what, you say.At first glance, perhaps his resignation is a good move, considering General Motors precarious position. But that is not necessarily why he  is stepping down.Basically, he is being told to quit by his new boss, President Barack Obama.Yes, friends now the U S government is telling businesses what to do. Look for this to continue as federal money flows into companies as bailouts or stimuli. Never  for a minute think that the government will not exert some control. However, the man in this photograph still  does not look very happy, does he? Reminds me of a phrase I heard as a kid,”someone licked all the shine off his sucker”.

AP/Getty image- GM CEO Rick  Wagoner

AP/Getty image- GM CEO Rick Wagoner

And, Politco.com as well as the WSJ are reporting other concessions and/or actions may well be required. The President told Bob Schieffer of CBS that”They’re not there yet.” Where Obama’s there is , is as yet undetermined as are the reasons for the administration asking for Wagoner to step down.

I bet that Ford is thrilled they don’t need bailout money. Let’s see, they will replace the bow tie emblem, Jeff Gordon’s car will be renumbered 1600 and oh who knows, move GM headquarters to Chicago maybe?


March 29, 2009 - Posted by | economy, Politics | , , , , , , , ,

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