It may very well be true that GM CEO Rick Wagoner deserved to lose his job. He’s been at the helm for 9 years, as his company’s competitive position went from bad to worse.
But who has ever heard of a US president firing a private citizen from his employment? And when do the union bosses who helped drive the company into the dirt get their pink slips?
I would have thought that firing the CEO of a publicly held company was a job for the board of directors, but this is a brave new world.
And twenty million dollars on the way out is a spoonful of sugar to make the medicine go down.