From the Associated Press, Monday, December 8, 2008:
Chicago - An influential senator drafting a multibillion-dollar bailout for Detroit's Big Three automakers said Sunday that the head of General Motors should step down, while President-elect Barack Obama accused car industry executives of a persistent "head in the sand" approach. Sen. Chris Dodd, D-Conn., chairman of the Banking Committe, said GM CEO Rick Wagoner has to move on as part of a government-run restructuring that should be a condition of financial life support for the auto industry. "I think you have got to consider new leadership," Dodd said on CBS' "Face the Nation."
GM spokesman Steve Harris said the company appreciates Dodd's support for the (bailout) loans, but added, "GM employees, dealers, suppliers, and the GM board of directors feel that Rick is the right guy to lead GM through this incredibly difficult and challenging time."
Gee, aren't those the folks who are begging? What part of money with strings attached don't they understand? Moreover, he led them into this mess, what makes them think loyalty will get them out? He's the orchestra leader for the Titanic...
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