You have to love the deadpan humor of the folks at Bloomberg (and at Reuters, which preserves the poker face in its report):
General Motors Corp CEO Rick Wagoner is going to step down, Bloomberg reported on Sunday.
Bloomberg says people familiar with situation did not say why Wagoner is leaving.
Any guesses about why Mr. Wagoner might be stepping down? Could this have something to do with it?
“GM and Chrysler have run through most of the $17.4-billion in emergency loans approved by the U.S. government late last year and are at risk of bankruptcy without immediate assistance from the U.S. Treasury.”
* * * UPDATE * * * Actually, The Drudge Report says it was this:
And why not? GM is now in effect a US government subsidiary. You’ll be seeing a lot more of this sort of thing, I predict.