Monday, March 30, 2009

GM CEO steps down

Most everyone knows now that the CEO of General Motors stepped down, or rather was asked to step down. Seems that President Obama and his administration didn't approve of the current restructuring plan and he had to go.

This may be the right move for GM. Given the money that the American taxpayer has already given GM, this may have been the right move for the taxpayer. But at this point every CEO needs to be afraid. Especially CEO's who take government money.

You may think you have nothing to worry about, but I would ask, who is the CEO in your family? If the CEO of GM is at risk, so is the CEO of your family. And especially if you're taking any government money. That includes Social Security of course. And it also includes any tax deductions (look what's happening to charitable contributions in the current plan). In fact, just by breathing, working and exchanging dollars for goods (groceries), you depend on the government for some things. And now the government is saying that if you don't do it their way, they can fire you, take over your management and run your business.

Yep, all CEO's everwhere need to be very afraid. We should all remember Proverbs 22:7

1 comment:

MojoSteve the Lightningman said...

Stepped down? Dude, Obama fired him. Further proof that Socialism is here, when the President can fire a private citizen heading a publicly traded company.