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Senator Dodd wants GM C.E.O. out


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Posted 08 December 2008 - 01:32 AM

Dodd also noted that General Motors Chairman Rick Wagoner might be required to step down.

“I think he has to move on,” Dodd said, noting that GM was in the worst shape of Detroit’s automakers. “I think you’ve got to consider new leadership.”

The White House and congressional Democrats have been working on a deal since Friday night, when House Speaker Nancy Pelosi, D-Calif., dropped her opposition to drawing money from a plan to loan Detroit’s automakers $25 billion over several years for retooling plants.

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