Surprise, Surprise - President Barak Obama has spoken and Rick Waggoner is gone. The longtime CEO of GM did not lead the company through the right evolution to enable the company to maintain its status as a world wide leader in auto manufacturing. To paraphrase Emmett Ashford,” Your Outta here! ”
My questions are: What the heck took so long? And what about the hundred or so top execs that helped form the strategy that drove General Motor into the ground? Last question: How much is his platinum parachute going to cost the tax payers?
Removing Mr. Waggoner is great symbolic first step. However he has been the CEO since 2000, all of the seniors managers were placed or approved by him. Which lead to the real issue, while Waggoner exit is a symbolic victory for those who want to see GM return to it’s former glory, the reality of it is there are hundreds of “mini me Ricks” in considerable power. It is very foolish to believe that his removal equates to direction change.
So, folks it’s the bottom of ninth, team Econ is up by 1. Who’s up next?