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Obama Effectively Fires GM's CEO
By Dylan and Ethan Ris - Politics DailyReady to shake up the floundering auto industry, and determined to fire someone other than Timothy Geithner, President Obama announced a dramatic layoff at General Motors, consisting of a single individual...The company's CEO, Rick Wagoner.The Obama administration has forced the longtime head of General Motors to resign and said yesterday that it would withhold additional federal aid to the auto industry unless the ailing companies undertake changes they so far have been unwilling or unable to make.Wagoner's nine rocky years at GM were characterized by multiple failures-- from ignoring the ...
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