Op-Ed Columnist – How to Fix a Flat – NYTimes.com

Op-Ed Columnist – How to Fix a Flat – NYTimes.com:

“‘In return for any direct government aid,’ he wrote, ‘the board and the management [of G.M.] should go. Shareholders should lose their paltry remaining equity. And a government-appointed receiver — someone hard-nosed and nonpolitical — should have broad power to revamp G.M. with a viable business plan and return it to a private operation as soon as possible.”

(Via NY Times.)

Amen. Been saying this for all government bailouts. Incompetence should not be rewarded and put in charge of fixing itself.

Thoughts? Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: