Senator Tells GM Chief to Take a Hike
Posted on Dec 7, 2008
As congressional leaders, the White House and President-elect Obama came to terms with a $15-billion loan package for the auto industry, Sen. Chris Dodd suggested Sunday that not all executives should stick around to spend that money. GM CEO Rick Wagoner “has to move on,” the senator declared on “Face the Nation.”
GM responded with this statement: “GM employees, dealers, suppliers and the GM board of directors feel strongly that Rick is the right guy to lead GM through this incredibly difficult and challenging time.”
We’d love to take a look at that polling data.
Dec. 7 (Bloomberg)—Senate Banking Committee Chairman Chris Dodd said General Motors Corp. Chief Executive Richard Wagoner should be replaced as a condition for federal aid and Chrysler LLC may have to merge to survive.
“You’ve got to consider new leadership,” Dodd said on CBS’s “Face the Nation.” Wagoner, he said, “has to move on.”
GM spokesman Steve Harris said he didn’t interpret Dodd’s comments as making Wagoner’s exit a condition for aid, adding that the company management, employees and dealers “all feel like Rick is the right guy to lead us at difficult time.”
Flickr / Franco Folini
The decidedly non-eco-friendly Hummer limo.