I'm reading the morning news about the firing of GM's Rick Wagoner by the Obama administration. While the end result of this action is something only time will tell, I can't help view it as a knee jerk reaction to recent polls that show a majority of the country is against any more bailout funds going to the big three or any corporation or banks.
A new CEO at GM may bring a different game plan to restructuring. Lord knows they need the funding to get through the government caused housing market collapse that killed their business. But I can't help think what the message the White House is trying to send by taking credit for Wagoner's removal. It appears like GM has failed in all attempts toward restructuring. Our community organizer-in-chief, with his vast experience in business (tongue in cheek) says he is not pleased with the results so far. Obama doesn't like to see his poll numbers slide. Especially as he heads off to a G20 summit in Europe where his 'world leader' popularity has nose dived after his demands for a "global new deal" along with Prime Minister Brown.
Was the Wagoner firing a move with a plan or was it a move to make him the fall guy so Obama won't lose poll numbers when he hands out the next check? Even Jennifer Granholm is calling Wagoner a "sacrificial lamb". But what was he sacrificed for? GM now looks like it is in total disarray after the surprise firing announcement. The timing is really bad for GM and really good for the White House. Had Wagoner announced his resignation as a part of the new plan, GM would have been able to use it as a consumer confidence builder. But then Obama wouldn't be able to take the credit. The Presidential ego seems to be running the West wing.
Once again Obama is investing in his image instead of the good of the country. Is not the goal here to get people to buy domestic made cars again so the American tax-payer can see a return on the bailout investment? Who would buy from a company who's survival plan is "unacceptable" and appears on the verge of having government loans recalled? Obama has shown such a lack of leadership on this one by trying to improve his image that I have to wonder if he truly is the socialist out to destroy capitalism. When car GM sales drop even more after this dog-and-pony show from the White House, then April's bloodbath at the dealerships will come directly from the erratic sword of Barack Obama.
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