Rick Wagoner Has Gone
Rick Wagoner, CEO of General Motors, has done the honorable act and resigned as chairman of General Motors. He has withstood pressure and negotiated tirelessly until he could present his best plan to the Obama Administration in pursuit of bail out bridge loans. It appears he has been successful and in good Japanese style, he has fallen on his sword.
It must be made very clear that Wagoner is not the direct cause of GM’s problems. He is, however, the CEO who could have done battle with the fire eating dragons but he chose not to. The UAW, the calcified dealer distribution network, and the customer oriented non-responsive management team were things Wagoner could have and should have fixed but did not.
More importantly, Wagoner was the point person extracting concessions from the bond holders, the UAW, and the dealer network now. As a result, a man of honor is duty bound to resign as a sign of respect for the concession of the others. At the end of the day, Wagoner was a man of honor.
This entry was posted on March 29, 2009 at 9:30 pm and is filed under Barack Obama, Democratic Party, Politics, Republican Party. You can subscribe via RSS 2.0 feed to this post's comments.
Tags: auto industry, bail out, general motors, rick wagoner, uaw
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March 30, 2009 at 6:10 pm
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