FACT CHECK #COOGI8YV

WHAT WE FOUND

While the Obama administration did force a major auto executive to resign as a condition of the 2009 federal bailout, that action was directed at General Motors CEO Rick Wagoner, not the CEO of Chrysler 346. Multiple high credibility sources confirm that the administration explicitly asked Wagoner to step aside because of a failure of leadership and made his departure a requirement for GM to receive further government aid 37810. In contrast, the administration's ultimatum for Chrysler was that the company must form a partnership or merger with the Italian automaker Fiat within 30 days or risk being cut off from federal loans 1389. Although Chrysler CEO Robert Nardelli eventually announced he would leave his post after the company emerged from bankruptcy protection, sources indicate this was not the same immediate, forced resignation demanded of GM's leadership 58.

SOURCES

1. 1 · politifact.comFACT-CHECKER
   PolitiFact | Mitt Romney says Obama's Chrysler deal undermined U.S. workers

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2. 2 · buckeyeinstitute.orgACADEMIC
   The Obama Administration's Auto Bailout Failure » Research » The Buckeye Institute

   TIER A

3. 3 · nytimes.comNEWS
   White House Pushes Out G.M. Chief - The New York Times

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4. 4 · en.wikipedia.orgWEB
   General Motors Chapter 11 reorganization - Wikipedia

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5. 5 · cbsnews.comWEB
   Chrysler CEO To Resign After Bankruptcy - CBS News

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6. 6 · cnbc.comWEB
   GM, Chrysler Get Ultimatum From Obama on Turnaround

   TIER B

7. 7 · jalopnik.comWEB
   Did The CEO Obama Made Resign Actually Save GM? - Jalopnik

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8. 8 · politico.comWEB
   Obama shakes up GM, Chrysler - POLITICO

   TIER B

9. 9 · greentechmedia.comWEB
   Obama Gives GM, Chrysler Ultimatums; GM's Wagoner to Resign | Greentech Media

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10. 10 · wunc.orgWEB
    Obama Gets Tough With GM, Chrysler | WUNC

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11. 11 · voanews.comWEB
    Obama Rejects GM, Chrysler Bailout Plans

    TIER B