Sunday, March 29, 2009

GM Rick Waggoner announces he will leave CEO job of GM; Obama Rescue plan due tomorrow

So out of the blue, Rick Waggoner announces that he is going to step down as CEO of General Motors where he has been CEO for eight years. The timing is suspicious. Obama is scheduled to announce his bail-out plan for BM and Chrysler Monday.

There was apparently no advance warning that this might happen. So the question is, did he decide to go himself for REAL personal reasons, or was he pushed out. And if he was pushed out, was it an internal coup by powerful individuals inside GM, or was it outsiders, like someone in the government saying that they would treat GM better if Waggoner was gone. Bankers is another possibility.

The New York Times article says the government asked him to leave.

This is just the beginning of this story.

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