opinion

Did President Barack Obama make the correct move when he forced out GM Chairman and CEO Rick Wagoner?


By PBN Staff
Posted 3/31/09

General Motors Chairman and CEO Rick Wagoner resigned Sunday, as a condition of the federal government’s continuing support for the troubled automaker.

Subsequent to his resignation, the administration gave GM 60 days to come up with a restructuring plan that it believes has a chance to succeed. (It also gave Chrysler 30 days to strike a deal with Italian automaker Fiat or be ineligible for additional federal funds.)

The move signals that President Barack Obama is taking a tougher stance toward the leaders of companies that are receiving government aid. But that begs the question, just how many American corporate chieftains will be forced to resign before the economic crisis is over?

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement