Obama, critics differ on ousting auto industry management

Tom Krisher and Ken Thomas at Forbes report politicians and critics differ on whether or not General Motors Corp. Chairman and CEO Rick Wagoner should sacrifice his job in order for GM to get government loans. Senate Banking Committee Chairman Chris Dodd, D-Conn., believes Wagoner’s leaving should be a condition of GM getting the loans. President-elect Barack Obama, less-specifically, stated the current auto industry management should be ousted if it doesn’t understand the need for change. But University of Maryland economist Peter Morici and others disagree with this philosophy. “I advocated Wagoner going a couple of years ago. But at this critical time, it’s the wrong time to change helmsmen.” Read the rest of the story here.

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