Meet The New Boss

A president of the United States orders the chief executive officer of General Motors to resign. The same president is further ordering Chrysler to merge with Fiat, the Italian firm specializing in flimsy cardboard boxes on wheels. This new reality should send a chill down the spines of all Americans. The federal government has begun to run U.S. companies. President Obama said Monday, "my team will be working closely with GM to produce a better business plan." To that confident assertion he added these stern sentiments: "They must ask themselves: Have they consolidated enough unprofitable brands? Have they cleaned up their balance sheets, or are they still saddled with so much debt that they can't make future investments? Above all, have they created a credible model for how not only to survive, but to succeed in this competitive global market?"Imagine if it were not GM, but your own small business employing a handful of people. How would you like the country's highest-ranking elected officeholder telling you that he and "my team" know better than you about cleaning up your balance sheets and competing against your rivals? How would you like being ordered by the government to fire the person you hired as manager of your company?...IBD

Big business has been in cahoots with big government for years, and now they are seeing the result of their efforts. They sold their soul long ago and are now losing their autonomy to their "friend."

They should accept no federal dollars, declare bankruptcy, reorganize and work their way back.