I, among others, have argued for years that Rick Wagoner is chiefly responsible for the decline and fall of General Motors and that until the imperious chairman was sacked there was little chance that the once mighty carmaker could be reinvigorated.
How extraordinary that calls for Wagoner's ouster have been routinely ignored by GM's board of directors and that is now happening only because the once mighty automaker still had not crafted a viable business plan and his departure was an Obama administration a pre-condition for receiving another injection of taxpayer bailout money.
A not small caveat here: While canning Wagoner is long overdue, how is it that the selfsame White House has not forced out any number of bank executives who have taken billions in bailout money to little positive effect?
Meanwhile, GM has been given 60 days to finally get what's left of its house in order while Chrysler gets a mere 30.
Because no one in the right mind believes that Chrysler with its tiny market share and dismal product line has a chance of surviving on its own, hence it will have to agree to a shotgun wedding with Fiat or die.