"GM CEO Rick Wagoner announced his resignation early Monday -- the latest change for the troubled automaker. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government's bailout strategy for the troubled automaker. "On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I 'step aside' as CEO of GM, and so I have," Wagoner said in a statement posted to the GM Web site."No matter how bad you have things at your job, I'm willing to bet you have never been asked by the President of the United States to step aside from your current position for the good of the economy and the country. It's always good to keep some perspective. One of the common questions on government job applications and background investigations is something like "were you ever fired or asked to leave any previous jobs?" I'm guessing "by the President himself" isn't the preferred answer to that.
I like that the government is starting to demand some actual accountability from the auto industry, and that the car manufacturers will need to prove they are viable long term to continue to get taxpayer financial assistance. As much as I love my Camry Hybrid, there is no reason in 2009 that somebody should have to buy a Honda or Toyota - rather than an American car - if they want a fuel efficient vehicle. Hopefully, Detroit will use this opportunity to once again put America at the forefront of the auto industry. The proposed Chevy Volt is a step in the right direction.
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