What in the world has this country become, where a President can force a CEO of a Private company to resign??? This is not the function of the Federal Government. The Federal Government does not control Private companies and should have no say in who is the CEO ot who should get a job in a Private Business.
GM CEO resigns at Obama's behest
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 Barack 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.---Politico
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As a follow-up to Stix's article, I will add that this is yet one more unconstitutional action by the loosely stated "man" that is allegedly a constitutional scholar. When companies accept unconstitutional bail-out funds, the strings attached are devastating coupled with violations of the constitution of which we hold so dear.
March on DC is no longer a cute phrase. It must happen.
Obama's direct action like this is yet another volley in the civil war we are in.