Former telecom CEO EDWARD WHITACRE JR. assumes the chairmanship of GM
and faces a two-front challenge: working with GM CEO Fritz Henderson and at the
same time fending off political meddling from Washington. The former Southwestern
Bell and AT&T chief will have his hands full trying to halt market share losses in the
U.S. and finding a way to get GM back on the road to profitability.
Statements made recently by Treasury Secretary TIM GEITHNER and National
Economic Council Director LARRY SUMMERS indicate President Barack Obama
is poised to (again) break his central campaign promise not to raise “any form”
of taxes on Americans making less than $250,000 per year. The comments are
the latest in a string of statements by Obama’s spokesmen and appointees
gradually stepping back from the “firm pledge” made during the campaign.