Saturday, August 14, 2010

Ed Whitacre Steps Aside as GM CEO
Daniel Akerson will be the New Guy

Ed Whitacre is resigning from CEO position of General Motors effective September 1. Will this require an amendment in the "red herring" prospectus that's floating around for the GM IPO? Yeah, I don't care either. Maybe that's why they're delaying their IPO. Kinda sorry to see Ed go though. He took GM from bankrupt basket case to billion dollar quarterly profit in a year. As Adam Sandler would say, "not too shabby." I don't know too much about Daniel Akerson, only that he was an executive at the Carlyle Group. You know the Carlyle Group's standards are high, they made Dan Quayle an exzecutive. Anyway, I tried to think of a good way to send off Mr. Ed, and I can't think of anybody to do it better than Lulu.

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