In response to rumors that Congress will only approve a federal bailout if given the sole discretionary power to replace Rick Wagoner as CEO of General Motors, GM’s vice chairman and number 2 man Bob Lutz, rushed to defend Wagoner’s position. Speaking to the Detroit Press, Lutz proclaimed, “If Congress wants a sacrifice, it should be me.” He went on to extol the virtues of the Wagoner dynasty, praising the ease with which Wagoner built GM up to be a highly-efficient, technologically innovative company. Forcing Wagoner to step down from his position, Lutz believes, is a sacrificial act that not only does Congress have absolutely no right to order, but that is also completely illogical.
Lutz admits it’s infuriating to watch the sanctimonious lawmakers in Washington force Wagoner and his Detroit crew to grovel for federal aid, and he’s grown exasperated with the apparent free-for-all Congress (and the media, RideLust admittedly included) have taken with Wagoner’s credibility. Echoing the sentiment of GM’s open letter to the American public published yesterday, Lutz admits GM is not without fault, but he also believes there were other mitigating forces that contributed to the current turmoil that aren’t given due recognition. Lutz also seems to believe that it was those outside forces that contributed to the bulk of GM’s current predicament, and forcing Wagoner to be held accountable for them is a simply preposterous idea. Said Lutz, ” [Forcing Wagoner’s withdrawal is] like blaming the mayor of a city that’s been hit by an earthquake…To me, that’s in the category of a sacrificial lamb [as some] sort of sacrifice to the gods, and maybe if we punish one of the innocents, things will get better.”