Submitted By Todd on March 30th at 9:37pm
Wagoner's departure is a cynical exercise in optics. It's reminiscent to the ancient practice of primitives who decapitated vanquished generals in front of their defeated troops. The idea was to scare the wits out of everyone and to appear to be willing to punish the privileged while saving the underprivileged. Well it won't work in this case because GM's felled boss, Rick Wagoner, is not being destroyed. He's going to skip down to Florida or Arizona with US$20 million worth of severance and pension entitlements. That amount of money would employ alot of GM employees or pay alot of suppliers and represents another insult to the millions of auto-dependent workers whose lives are heading for the ditch. It also illustrates how rotten and corrupt American "capitalism" has become with top dogs grabbing obscene payouts despite ineptitude.All in a days work for the CEO President.