This is interesting... Amid the revelation that President Obama is to introduce his auto bailout plans next week, General Motors Chairman/CEO is expecting to resign. Of course, he nor the board has confirmed. A statement on his future is expected to be announced after the President's discussion on the auto bailout.
I wonder if this is part of the condition required, if expected for the taxpayers to bailout them out more? I agree with, but what about Chrysler? Did he not expect this. A few weeks ago, he said that he doesn't foresee his removal.
There was no indication yet who would take over the top job at General Motors. As recently as March 18, Mr. Wagoner said in an interview that he had no indication that his job was in jeopardy because of the task force.
But why would he or any business executive leader not expect to lose their job if they are continously losing money, not being innovative enough to attract consumers, not being business savvy and then expects a handout from the taxpayers when a good number don't appreciate nor value their products????? (Of course, I'm speaking for myself in the last item, however, if I was wrong them perhaps they would not be in the situation they are in now.
http://www.nytimes.com/...
taxpayers to bailout