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tice Litle, Editorial Director, Taipan Publishing Group
Poor Rick Wagoner. The long-time General Motors CEO finally got the boot this week. Some would say he deserved it (including us). But he could have hung on, if only for one deadly />
Whats good for General Motors namely good for the country. Weve always listened that one, right?
Its actually a misquote... 1 of those legendary quips that gets nigh for the modified edition sounds better than the real entity.
The tangible source was Charles Erwin Wilson [link widoczny dla zalogowanych], head of GM in the early 1950s, during a question and response session with the Senate Armed Services Committee.
The Senate wanted apt understand if Wilson would have anybody conflicts of interest upon taking a job for Eisenhowers secretary of barricade. Would he [link widoczny dla zalogowanych], Charles Erwin Wilson, in his capability as ward secretary, be willing apt make a decision that could harm GM as the good of the nation if absence be?
Wilson confirmed his willingness to put country premier... and then joined he could scarcely imagine such a scenario coming to pass.
Thus came the outstanding (and oft misquoted) line: For annuals I thought what was good for our country was good for General Motors, and vice versa. The difference did not exist.
[b]Kicked to the Curb
Wilson may have been correct just now in his opinion that the feud did no exist, re, Americas amuse versus GMs.
But a difference sure exists now! It has convert apparent, at fewest by Washingtons meter of things, that in order for USA to heave up, GM has to go down. After months and months of socialism-lite and big business mollycoddling, the iron hand of punishment has finally made a showing.
I mean actually, you must adore the satire of this juxtaposition:

On Friday, March 27 [link widoczny dla zalogowanych], President Obama met with the nations altitude bankers including Ken Pig in a Poke Lewis, Vikram Bandit Pandit, and 13 others for a cautiously orchestrated debate. (All sides narrated the appointment as gentle according to the WSJ.)
On Sunday, March 29 fewer than 72 hours from the tough-love banker-fest Team Obama delivered the following loud-and-clear information to Rick Wagoner, the soon-to-be-ex General Motors CEO: Pack your bags, buddy lad, and dont let the door buffet your a** aboard the way out!
Hows that for a change in manner and demeanor? You cant make this matter up, folks... Jekyll and Hyde have nobody on this White House.
Earlier this week, a Taipan Daily reader and VIP Inner Circle membership suggested I should write Grisham-style novels about all the nutty stuff that happens in high finance. But you know what? Truth is extra fun than fiction... if I tried to put a twist like that in a fictional novel plot, not one would believe it. Theyd write it off as also mad.
Now dont get me bad... I agree that Rick Wagoner (the immediately ex-CEO of GM) should have been canned. He ought have been canned a long, long time ago. The fellow handled his exit with level and elegance, Ill give him that. But really now while your enterprise loses a mind-boggling $90 billion, the share price falls from $70 to $2, and youre still talking up incremental change in your medium diaries, its long elapse time for the ax.
No, the extraordinary thing in all this is not Wagoners long overdue White House-engineered demise. Its the insane difference in manipulation among Wall Street and Detroit, as displayed in back-to-back instances over a unattached weekend.
Let us gladly allow that automaker heads had to roll. Many months ago in these quite pages, we called aloud for the resignation of Wagoner and his guy dead-enders. I mean for Petes sake, either Toyota and Honda felt compelled to pat current leading as a result of the emergency... and those two companies are actually healthy and profitable!
Wagoners Big Mistake
The comic (alternatively not so fu