In Wake Of GM Ouster, Unions Demand Obama Fire Bank Of America CEO
The major unions are grabbing on to the ouster of General Motors chief Rick Wagoner to launch a campaign to pressure the Obama administration to engineer a similar axing of Bank of America CEO Ken Lewis.
The game plan: To capitalize on the odd disparity in treatment of the two industries to intensify populist rage at major corporations. The idea is to make the political environment much tougher for wavering Senators who might want to side with corporations against labor on the Employee Free Choice Act — and, tacitly, to keep up public pressure on the White House to aggressively side with workers in the fight.
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Two CEOs lead two large public companies that start sinking, putting thousands out of work and toppling the American economy. Both CEOs accepted billions in taxpayer dollars to sustain their companies, but both failed to stop their companies’ downward spirals.
One CEO — GM’s Rick Wagoner — got his pink slip from President Obama this morning. The other — Bank of America’s Ken Lewis — accepted bailout funds while continuing to fleece consumers and taxpayers.
It’s time for the Obama Administration to show the door to CEO Ken Lewis in order for real reform to take hold at Bank of America.
The unions think the firing of Wagoner, and the growing sense that Bank of America has been given a pass, have given them an opening to intensify efforts to shift the political environment their way and make it politically toxic for Senators to side with Wall Street corporations. Says one labor official: “The message to Senators is, `Are you with us, or are you with them?’”