Fire the Board Too
In this case, the removal of Rick Wagoner was not a dilemma; it was a necessity, and it should have occurred earlier. In the past few years Wagner did little to shift the direction of GM, nor did his board support a new vision for the company.They, too, should have been fired.
Wagoner's dismissal and the firing of most board members should have been a condition of the initial bailout. It would have accelerated the restructuring of the company.
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