GM CEO Rick Wagoner Gone
This is the way things work in the real world, the one where real people live and work, where they don’t fly in on private jets to ask the government to bail them out after they have lost billions.
They don’t get bonuses for being failures. They lose their jobs. They hit the bricks like the people whose jobs they eliminated with bad management and years of bad decisions.
You know what happened to Rick Wagoner of GM on Sunday? He became one of the guys on the line. Wagoner doesn’t get to be the boss anymore because the President of the United States acted like one and fired him.
This happens all the time in sports, to coaches and managers, and it happens to executives at movie studios who back films that lose millions. It happens to network executives whose shows don’t pull ratings. Sunday it happened to Wagoner.
And if the President really did it the way it’s being reported he did, if his “restructuring” of GM and the auto industry meant restructuring Wagoner right out the door, good for the President. This wouldn’t just be him talking tough about the auto industry or Wall Street or even Afghanistan. This would be doing something tough. There are so many workers in this country, up and down the pay scale, who wonder why the government can’t restructure things so they can stay in business. Wondering where their bailout money is.
They aren’t banks or bankers or AIG, the pig operation of them all. There are all the ones who own businesses that aren’t GM and, when they can’t pay the bills anymore, they close their doors. They become another boarded-up window in a country of them. They are out of luck and out of business.
Wagoner may have made his and may make a lot more walking out the door. He still gets to feel what it is like to lose a job in this America. His company has lost $82 billion the last four years. Lost nearly $31 billion last year. It finally took the government, the one that gave GM $13.4 billion in loans and then saw GM come back for $16.6 billion more, to call him on that…
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Short URL: http://www.internationalnetworknews.com/?p=2198
Posted by John Malloy
on Mar 30 2009. Filed under International.
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