10 Apr 09
Originally posted by Metal BrainHe was "forced out" by his corporation's desire to get billions of dollars of loans from an entity who's leaders thought he had done a crappy job.As I said earlier:
Does anybody in the executive branch get fired? No, they are asked to resign. To say they leave voluntarily is a stretch.
The CEOs to the big banks kept their jobs. Jennifer Granholm says Rick Wagoner got a raw deal because of the double standard with the banks. Whether or not he resigned does not say he was not forced out.
How about forced to resign? Is that a more acceptable term for you?
The corporation was free to keep whoever it pleased as CEO; all it had to do was not borrow the money from a lender that wanted that particular executive out.
MacSwain's raving has been based on the idea that someone this President has been granted the power to fire the CEO's of private companies. Of course, he has no such power. He does have the power, as any lender does, to put conditions on the loan. Certainly nothing in Wagoner's performance in his time as CEO of GM would recommend his retention to someone being asked to lend the corporation billions of dollars due to its near bankrupt condition.