Tuesday, December 9, 2008

Senator Dodd May Be On To Something

News Item:

Dodd: General Motors Executive Should Resign in Exchange for Bailout

Senator Dodd seems to think that Rick Wagoner, CEO of General Motors, should resign as part of an automakers bailout package. His rationale is that Mr. Wagoner has run GM into the ground and should therefore step down as part of a restructuring in an attempt to get the failing automaker back on it's feet.

Now, I don't want to dispute Mr. Dodd's reasoning, I arrived at the same conclusion long ago. In fact, not only should Mr. Wagoner go now, he should have already been gone.

The point of this though is that I think Mr. Dodd is on to something here.

If you have a leader of an organization that is failing the people they serve, they should step down.

If you have given the leader two years to turn around the organization and instead it is in far worse condition than when they accepted the responsibility, they should step down.

Finally if the leader is partly to blame for the failing of the organization through his backroom deals and taking kickbacks that were a conflict of interest, he should step down.

So this leads to only one conclusion, Senator Christopher Dodd (D, CT) must resign from the Senate. This is the only way to restore the public's trust and confidence in the organization.

8 comments:

Obob said...

I share your logic. Fire the lot of them and start over.

TAO said...

Chuck, please cross post this and you can get more information from www.stillmadeinusa.com (along with banners)

The Revolutionary Spirit...

Since Christmas is fast approaching I think it might behoove all of us to realize that WE can make a difference! So, remember this as you go out shopping:


"There are 293 million people living in the United States. If each one would shift $20 a month in spending from foreign made products to American made products, that would create 5 million new jobs."
---Made in the USA.com

So rather than waiting around for Washington to solve our problems or waiting around till 2010 to vote for the candidate that will represent our values let "vote" with our pocket book; lets start a revolution one person at a time!

Lets purchase $20 worth of MADE IN THE USA goods for each and every person in your household and or each and every person on your Christmas gift list!

cube said...

I'm with you on this. Dodd, Barney Frank, Maxine Waters, et al, who
foisted the Freddie/Frannie/Mac/ Mae boondoggle upon us should all go home. As I recall, this is what started the economic avalanche.

Always On Watch said...

GM is so screwed up as to defy belief. Absolutely Wagoner should resign forthwith -- and so should some on Capitol Hill and various CEOs of failed corporations. It's called accountabilty!

Papa Frank said...

Chuck -- Agreed. Now let's include the head of the UAW as well as they share a large portion of blame for driving our domestic auto production into the ground.

Chuck said...

Obob, we had the chance

Tao, thanks for the link. I'm adding them to my resources section. I would love to buy American, it's just hard to find

Cube, thanks

AOW, it's frustrating to see the CEO's of failed companies hang around and get rich while they're running the company into the ground

Papa Frank, I agree

Christopher Hamilton said...

Chuck,

Your logic is correct. I knew when I saw the title of this post there had to be some sort of spin.

Thanks for continuing to visit my blog!

Christopher Hamilton
The Right Opinion, for the Right Wing

mksviews said...

Nice one Chuck. If only the would eh.

I share your sentiment on the CEO of GM ought to be turfed out, him and the executives. They aren't paid to sit around like monkey scratching their bums. That GM is begging for a handout is proof of their incompetence, which must be punished.

If this were to be done, perhaps the rest of the industry might wake up to itself and fix themselves instead of looking for a bailout every time they screw up.