- The Foundry: Conservative Policy News from The Heritage Foundation - http://blog.heritage.org -

The Not So Reluctant Shareholder

Posted By Conn Carroll On June 2, 2009 @ 11:10 am In Economics | Comments Disabled

Yesterday, after President Barack Obama again insisted he did not want to run General Motors [1], we questioned just how reluctant a shareholder the Obama administration will be. [2] Thanks to the Wall Street Journal [3], we’re beginning to get our answer:

The President is so busy not running GM that he had time the night before to call and reassure Detroit Mayor Dave Bing about the new GM’s future location. GM is being courted to move its headquarters to nearby Warren, Michigan. And Mr. Bing told the Detroit News that he had received a call Sunday evening from the President “informing me of his support for GM to stay in the city of Detroit with its headquarters at the Renaissance [Center].”

We don’t know whether GM should stay in Detroit. But we do know that the location of a company’s headquarters is one of those decisions typically not made by people who are busy not running the company.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2009/06/02/the-not-so-reluctant-shareholder/

URLs in this post:

[1] again insisted he did not want to run General Motors: http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-on-General-Motors-Restructuring/

[2] how reluctant a shareholder the Obama administration will be.: http://www.foundry.org/2009/06/01/the-government-and-gm-how-reluctant-a-shareholder/

[3] Wall Street Journal: http://online.wsj.com/article/SB124389952143874411.html

Copyright © 2011 The Heritage Foundation. All rights reserved.