Headhunting
And I dont mean it in the good "trying to find the right person for the job" kind of way. I mean it in the "find somebody we can sacrifice to the altar of public perception" kind of way.
The Obama administration has asked for Rick Wagoner to step aside as CEO of GM. There is no real reason behind this - he still has the support of the company and the board - but the administration did not feel that he was the right man for the job.
From the White House press release:
"While GM’s current plan is not viable, the Administration is confident that with a more fundamental restructuring, GM will emerge from this process as a stronger more competitive business. This process will include leadership changes at GM and an increased effort by the U.S. Treasury and outside advisors to assist with the company’s restructuring effort. Rick Wagoner is stepping aside as Chairman and CEO. In this context, the Administration will provide GM with working capital for 60 days to develop a more aggressive restructuring plan and a credible strategy to implement such a plan. The Administration will stand behind GM’s restructuring effort."
Do you see the way that is worded? Look closesly at this part:
"Rick Wagoner is stepping aside as Chairman and CEO. In this context, the Administration will provide GM with working capital"
How could that have been anything but intentionally worded? The administration got its pound of flesh, and now it will give the company the money it needs and wants. Not at all surprising in the course of action, but to me, surprising in the very clear way in which it was worded.
The Obama administration has asked for Rick Wagoner to step aside as CEO of GM. There is no real reason behind this - he still has the support of the company and the board - but the administration did not feel that he was the right man for the job.
From the White House press release:
"While GM’s current plan is not viable, the Administration is confident that with a more fundamental restructuring, GM will emerge from this process as a stronger more competitive business. This process will include leadership changes at GM and an increased effort by the U.S. Treasury and outside advisors to assist with the company’s restructuring effort. Rick Wagoner is stepping aside as Chairman and CEO. In this context, the Administration will provide GM with working capital for 60 days to develop a more aggressive restructuring plan and a credible strategy to implement such a plan. The Administration will stand behind GM’s restructuring effort."
Do you see the way that is worded? Look closesly at this part:
"Rick Wagoner is stepping aside as Chairman and CEO. In this context, the Administration will provide GM with working capital"
How could that have been anything but intentionally worded? The administration got its pound of flesh, and now it will give the company the money it needs and wants. Not at all surprising in the course of action, but to me, surprising in the very clear way in which it was worded.
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