***(Editor’s Note: In an effort to promote more dialogue among our readers, “The Thirsty Quill” will run a special series entitled “Open Court” each week. Typically these questions/prompts will run in conjunction with a controversial issue or ‘hot topic,’ while others may be entirely random and cover a more obscure subject altogether. Regardless, the aim of these questions/prompts will be to encourage more debate, dialogue, and discussion among readers of ‘The Quill.’)***
“Open Court” Question of the Week:
In your opinion, does the President of the United States (or any elected politician for that matter) have the authority to fire, remove, or dismiss (or seek the resignation of) the head official of a privately-owned corporation, without evidence of wrongdoing, criminal activity, or due process?
If you believe the answer is “yes,” then please explain what document, edict, accord, treaty, or ‘divine right’ affords him/her such authority…
If you believe the answer is “no,” then please explain why the American public has not expressed more concern over the events from earlier this week, in which GM CEO Rick Wagoner was forced to resign amid pressure from President Barack Obama and his administration…
April 3rd, 2009 on 3:44 pm
The companies knew that by taking Government money that the government would have power over said companies. Now that the Federal Government has a stake in the coorporations, they have considerable sway in the goings-on of these coorporations, as their success or failure would be a detriment/boost to the economy.
Since GM decided to take a considerable sum of Government money, should the Government not be able to influence these companies, especially with GM’s 85 billion dollar deficit?
In his defence, Rick Wagoner wasn’t the worst CEO in GM’s history and he did make many cuts over the last few years to try to reduce spending. He kinda inherited a mess 9 years ago.
In my opinion, Wagoner was a scapegoat. Sort of a “sacrificial lamb”, if you see what I’m saying. He went so that others would sit up and say “Hey, this money wasn’t free after all. These people are going to be looking for returns on this stuff. We better straighten up or we’ll be next”. Or at least I think the administration is looking for that effect.