At Least Stalin Wasn't A Democrat...
The White House explained that it was President Barack Hussein Obama who cut--figuratively speaking--the balls off of Rick Wagoner, the (now) former chairman of General Motors.
It seems that if GM is going to take $26 Bn in bailout money, then Comrade Obama gets a say in who is going to run the joint.
Following this logic, the union leadership will be the next to vacate their position since they are as much to blame for GM's malaise as Chairman Wagoner. After all, he may have made the decision to build the Suburban and the Avalanche over the electric and hybrid cars that everyone seems to think that we want right now; but, they were the ones who wanted to have the store...and got it.
The unions gave us make-work, no-fire jobs, the jobs bank, and benefits that only a Congressman might find offensive. Now, they should have to pay.
Management may have made bad decisions; but, labour built a substandard product for years. This was okay when there was little competition from the outside. Then, the Japanese came along with their inexpensive, well-made cars and Detroit was fucked.
The tragedy is that Wagoner said that he'd go. Instead, he should have moved GM into bankruptcy, seeking Chapter 11 protection. He should have broken the unions' hold on GM (and the American auto industry in general). He should have been a man and stood up to Obama, the UAW, and Congress. Then, he should have committed seppuku. Instead, he is reaping the whirlwind (and collecting a massive payout for going on unemployment).
Actually, the tragedy is the stupidity of Congress with CAFE standards and tariffs (e.g., the fact that American automakers can not import foreign-built cars that would meet these standards, and which Americans might actually have wanted to buy); and, the fact that the unions have rarely, if ever, given anything back.
Sure, Wagoner made a mess of things; but, he's not the only one at fault. So, Comrade Obama, clean the stables. Or, stay out of the business of business.
Of course, the funny thing is that we don't blink when the President forces a CEO to leave; but, we keep electing (and re-electing) the clowns in Congress who mismanage a far larger business; and, who take (and misuse) a Hell of a lot more than $26 Bn.
I just hope we can survive the four years of this Five Year Plan.
Maybe we can borrow the DVDs that were given to Prime Minister Gordon Brown. After all, he can't watch them at home.