Wagoner Out

GM CEO Rick Wagoner just posted a note on the GM Media site explaining that he resigned after being asked to do so by the White House.

I won't get political on this blog... but its a shame to see Wagoner go. He was a dynamic and thoughtful leader for GM, more of a politician and less of an actor than his buddy Maximum Bob Lutz. I have no problem with a CEO leaving a company in trouble, but it's the government asking him to leave that makes me a little uncomfortable.

There's a pretty good story about the whole matter at the Detroit Free Press.

On a related note - Chrysler will give up a 35% stake to Fiat, another nationalized auto company run by a head of state.