International media outlets are reporting that Rick Wagoner, Chief Executive of General Motors, will resign his position. The announcement comes just days away from a Tuesday deadline set by the US Department of Treasury by which GM must “prove…they can be viable in the long term” or risk losing their multi-billion dollar bailout.
Jason,
I have mixed feelings about this as Wagoner has not performed well as GM's CEO, but our government should not be directing the operation of a business. GM (and Chrysler) was also told to stop competing in NASCAR.
JeffD