I love how Obama has given him the choice to make it look like he's offering himself up as sacrifice. Now he can move on and live off the millions he made off of the company he ran straight into the ground...what a standup guy...what a load of crap!
Seems to me that would be GM's call and not Obama's, wouldn't it? However, it will soon BE Obama's call, since the government will be running most private businesses before too much longer. After all, with all these bailouts, any business benefiting from such money will then have to answer to the government regarding all business decisions...
because the board of directors didn't have a no confidence vote on him...
the stockholders representatives felt the decision making by the CEO wasn't suspect...
do I personally agree NOPE
do I think the government should be making the decision NOPE
however one thought to keep in mind is that when companies ask for monetary injections from banks it is not uncommon to see similar conditions.. either appoint x number of board members that serve on the banks board.. or hire/fire certain execs...
IOW it isn't uncommon to see this kind of condition to money.. but i am not happy with the government making those choices
That is how it goes, they try to be nice by asking you to resign if you refuse then you get fired. Either way, he was out of there.
Just like everybody else, If you perform on a sub-par level Most companies will ask you resign. If you refuse, they fire your a*s*s
This should concern all people in this country. Regardless of how poor its operated once you let the government start dictating we all have problems.
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