Just a Start
Submitted By Todd on December 8th at 10:41am
calm the growling masses.
One of the chief architects of a plan to bail out the Detroit auto companies said today that General Motors Chairman G. Richard Wagoner should be forced to give up his post as a condition of receiving emergency loans from the federal government.GM's assets should be turned over to new operators as part of the bailout.
"I think you have got to consider new leadership. If you're going to really restructure this, you have got to bring in a new team to do this, in my view," Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.) said on CBS's "Face the Nation." Asked specifically about Wagoner, Dodd said: "I think he has to move on."Dodd is engaging in tokenism. How does changing one guy fix a culture that for 30 years has made all the wrong decisions?
The Bush administration is calling for a car czar within the Commerce Department who would be empowered to force the automakers to restructure or force them into bankruptcy. Democrats want to give the companies the money first, permitting them to survive through the end of March, and name an administrator later, "during the next 60 to 90 days," Sen. Carl Levin (D-Mich.) said on Fox News Sunday.A car czar should be empowered to build new companies from the ashes. By bringing in new investors, pairing them with possessors of new ideas and technologies, and to start building some cars that matter.
"Certainly we appreciate Senator Dodd's support for the U.S. auto industry, but employees, dealers, suppliers and the GM board of directors feels strongly that Rick Wagoner is the right guy and best guy to lead us through these tough times," said GM spokesman Steven Harris.And certainly we should pay no attention to the board that has brought us the culture of failure that is General Motors.