Theory 1: President Obama replaced Wagoner with Fritz Henderson as CEO of General Motors because he is convinced that Henderson will be a better corporate leader.
Theory 2: President Obama replaced Wagoner with Fritz Henderson as CEO because the A.I.G. public relations debacle taught him not to appear "soft" with corporate leaders receiving government money.
Which theory do you vote for? Which principles do you think should be governing the disposition of leadership in major U.S. corporations?
There are more things in heaven and earth, Professor Cowen, Than are dreamt of in your philosophy. The principal reason for firing someone ought to be failure to carry out their duties. Wagoner had come to the country, asking to be bailed out with taxpayer dollars. The government gave him some money (many billions!) on the condition that he come up with a plan to restructure GM that would return it…