Tuesday, March 31, 2009

Not So Sure I Like This

Obviously, GM and Chrysler are a mess right now but so are many of the companies we always counted on to survive eternally. The Obama administration suddenly seems to think they know how to restructure businesses. What qualifies them to take on this endeavor? I am very troubled by a government that tells a U.S. company it has 30 days to work out a deal with Fiat. Also, even though Mr. Wagner has made a mess at GM, is this a precedent we want to establish where governments can oust CEO's. We all need to keep close watch as this develops.

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