Monday, March 30, 2009

Heaven Forbid...The President Actually makes a CEO accountable???

I turn on the news this morning as I am readying myself for the onslaught of the day, headache that has been plauging me for 3 days still lingering as I run through my to-do list in my head. I only half-heartedly listen, my eyes peeled for the promised up coming forecast (am I going to be able to release these demons running through my house out doors anytime soon Mr. Weather Man?) when a news story catches my eyes...well ears.

At the request of President Obama, the CEO of GM has resigned. As a former GM carsales person (yes I used to sell cars) I am always quite interested in the way the auto industry is going. (Yes part of me is still looking for justification for walking away from my job as gas prices went over 4 bucks and sales plummeted last summer).

While the current poll that my local news station is doing sits at 58% that agree with the President, there is still a loud outcry from people that don't.

Alot of people seem to think that the President has overstepped his boundries...and even though you didn't ask for it, I am going to give you my opinion.

To those of you that think that he should not have made that request, let me ask you this...when AIG recieved the millions (or billions...the numbers are all a blur now) in federal bailout money and then procceeded to continue to act irresponsible, were you not upset? I mean the outcry was that the company needed to be held accountable for it's actions right??? The american taxpayer was outraged and demanded that the White House do something....

GM has been given millions in taxpayer money as a bailout. GM is not a viable company as it stands right now. Just last week, GM let 7500 hourly employees go. The sales and stock of GM, along with all major auto manufactures, continue to plummett. Some say, "Mr. President, if a company is going to perform poorly, then let it do so and then let it fail" I say to you..not with my tax dollars.

If a company is going to ask for a bailout, then they darn best better be held accountable. The government gave GM the money with the stipulation that they restructre immediately. Speculation has swirled for months about the effectiveness of GM's CEO. He has failed to make even a small turn around in the way GM is ran. If the government were to stand back and watch this company fail...what would the long term ramifications be for the american people? If GM falls, will the other auto makers be far behind?

My take on this mess is is time for the Big Wigs at the top of the corperate ladders to take accountability. It is time to stop passing the buck.

*the above blog is my opinion only. It no way relflects the views or opinions of my readers, or any company that I promote on this blog.*

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