Not much time to post on this breezy Monday in almost-April…but this article in today’s Dallas Morning News certainly got my attention.
If you’re going to take Uncle Sam’s hand-out, you better be prepared to trade in your freedom to make your own decisions. Even though, technically, we ARE Uncle Sam, I certainly didn’t have anything to do with firing GM’s CEO. Did you?
If the company had been allowed to fail and enter bankruptcy proceedings (which it may still do despite over 16 billion big ones belonging to the taxpayers), the CEO probably would have been ousted anyway. It’s the principle of the thing. Since when does a sitting US President have any say over who is the head honcho at any private company?
Oh, wait a minute. GM isn’t a private company anymore.
The higher-ups at Ford were smart to just say NO to the bail-out funds. At least now they can make their own decisions on executive leadership and compensation.