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.