It may be that GM’s (GM) Rick Wagoner was associated too much with the car company’s failures. To get the concessions necessary to restructure GM, the UAW or the creditors may have said he was in the way. In any event, the Administration wanted him out, according to The Wall Street Journal.
Wagoner resigned, effective immediately. There are still nine more to go in our 10 CEO’s To Go in 2009.
Douglas A. McIntyre
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