Wagoner

I've attempted to engage several friends and acquaintances today, seeking to gauge their interest/disinterest with the whole GM/Chrysler/Gov't fiasco. While I am extremely angered by what is obvious (at least to me) to be an unconstitutional move by the Obama administration to take over GM, most of the people I have spoken to don't seem to give a pinto's exploding patootie.

(update) In the wake of last evening's report that General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at "the request of the White House," Wall Street took a big step down as well. The Dow Jones Industrial Average dropped 254.16 points, or 3.3%, to 7522.02, showing declines everywhere. GM shares shed 25%. Strategist Bill King, of M. Ramsey King Securities in Burr Ridge, Ill., said today on online.wsj.com, that investors are skeptical that the government can engineer a turnaround for the car makers.