The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.
On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler. The plan is 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.
Soooo....Let's get this straight, Palin got a political witch hunt so to speak because she asked an employee of her own government to step down.
NObama gets a pass for asking an employee of a private firm to step down? Is this fascism at its best, who chooses the new CEO?? So in exchange do we get Pelosi and Reid to resign?
I tell ya this man scares me and doesn't seem like he is going to stop at any length.