NEWS > BUSINESS > QUITTER WAGONER HAPPY TO LEAVING GM

QUITTER WAGONER HAPPY TO LEAVING GM

Detroit, MI – Leaving a job, especially one you have had for a long time, is never an easy thing. You leave behind friends and routine that has become an important part of your life. Leaving under duress is even more traumatic because you are unable to leave on your own terms. You don’t get to say goodbye to your people and inevitably, no matter how brave a face you put on, it’s embarrassing to be fired. That’s a lesson that Rick Wagoner is learning today after his nearly thirty years with General Motors came to an abrupt end.

Wagoner was asked to step down in order to make way for a massive restructuring of the company in an effort to bring the once mighty manufacturer back to financial health. President Obama himself, now one of the biggest investors in the car company, asked Wagoner to step aside in order to make way for that restructuring. Reportedly the now ex-Chairman and CEO accepted the request stoically, but noticeably grumbled under his breath. He has also reportedly sent his resume out to a number of different employment agencies in hopes of snagging at least part time CEO work.

“Anyone who has been forced out of a job knows what he must be feeling right now though I imagine sympathy will be relatively low considering his millions of dollars in the bank. Regardless, it is just another tragedy in this very rough economy,” said Scrape TV Business analyst Ken Green. “It has to be a hard thing too to have the most powerful person in the world fire you, especially considering the fact that he is the new guy. Hopefully though he’ll find some peace and seek out a job that will really satisfy him. Sometimes struggles can lead to success and hopefully Wagoner will be able to see that.”

Wagoner started with GM in 1981 and eventually rose to the highest position in 2000. Under his leadership the company repeatedly lost billions of dollars annually and failed to keep up with trends pioneered by Japanese and European manufacturers. Nonetheless Wagoner was a popular figure in the company, due in part to his unwillingness to make the really cutthroat decisions.

“I think he’s going to have a big surprise when he gets out there in the working world. There really isn’t a whole lot of demand for CEO’s at the moment and he’s going to be really overqualified when it comes to places like
McDonald’s or Burger King. The way things are going they may not be hiring either,” continued Green. “From what I’ve heard though he’s actually relieved to be leaving, or at least that’s what he’s telling everyone. It’s hard to believe that he would bear no ill will to his ouster but now he’s perhaps feeling what’s like for everyone else who gets fired for doing a bad job.”

GM shared a $25 billion bailout package with fellow failing Detroit manufacturers Chrysler and Ford. Chrysler has sought out a business relationship and eventual buyout from Italian automobile manufacturer and Ford’s restricting plan has been progressing more or less as planned. GM hasn’t been as successful with their restructuring which has led to this departure.

“If you work at Wendy’s and keep burning the fries eventually you are going to be let go and it’s a hard thing to accept. Sometimes it’s very difficult to accept one’s personal weaknesses and see that someone else was right, but hopefully and educated and successful person like Wagoner will realize his lack of success was the reason for his departure,” continued Green. “Sometimes accepting failure is the only path to redemption, as hard is that is to do. I hope he truly is happy to be leaving and sees this as an opportunity not only for the betterment of the company that provided so well for him, but also for his own personal well being.”

There has also been talk that Wagoner is pursuing a possible partnership with other ex-CEO’s who have been similarly affected by the rough economy, in Bermuda.    

William Ashford, Business Correspondent

NEWS > BUSINESS > QUITTER WAGONER HAPPY TO LEAVING GM