The other day President Barack Obama told Rick Wagoner, CEO of General Motors, to step down. First of all, I couldn’t believe that the president would actually do that, and I was shocked that Wagoner agreed. And I can’t help but wonder what happened behind the scenes to lead to this.
Wagoner’s tenure as CEO of General Motors occurred during a recession and high gas prices that led to a sharp decline in GM stock value, and inthe last four years GM lost $82 billion. Even so, the federal government has no authority to dictate to businesses.
There is some talk that there are more measures proposed by the government that will impact workers, unions, suppliers, shareholders, retirees and the communities where plants are located.
I suppose that the White House is justifying the interferance because of the millions of dollars that have been loaned to General Motors and Chrysler in recent months. The taxpayers are asking for accountability and transparancy as to how this money is being used. But I haven’t met a taxpayer yet who supports the president telling people how to conduct business.
We are swiftly moving toward a socialistic absolutism, which is a form of government in which a single leader or party exercises absolute control over all citizens and every aspect of their lives.
I don’t know about you, but I like to control my own life, thank you very much.