Edward E. Whitacre, Barack Obama’s appointee to run General Motors, admitted to Bloomberg News Wednesday “I don’t know anything about cars.” Upon taking over GM in March, Obama forced out then-CEO Rick Wagoner, credited by many for stabilizing losses and cutting costs but criticized by political and environmentalist groups for cutting back on the production of poor-selling hybrids to stem financial losses.
That isn’t doing much to instill confidence among some investors and analysts. CBS News reports telecom industry analyst Victor Schnee called Whitacre’s appointment “bizarre.”
Full post by Donny Ferguson @ http://www.lp.org/blogs/donny-ferguson/obamas-new-gm-head-i-dont-know-anything-about-cars