Should Big Three Automakers' CEO Go?

As the Congress decision on auto bailout is expected this week, the auto industry might have to go through major changes. Will GM be the same post bailout? Has GM's CEO Rick Wagoner's rein led to deploring condition of the company today? Has he failed as in leading the world's largest auto company? Will he be replaced soon?

Barack Obama, President-elect of USA has told the Big Three auto companies to look for a change of top executives if they fail to make fruitful usage of the loans. He also warned the auto industry and asked it to act immediately for optimum usage of the loan. Obama spoke at a press conference, “ We have to have an auto industry that understands they can't keep on doing things the same way. If this management team that is currently in place doesn't understand the urgency of the situation, and is not willing to make the tough choices and adapt to these new circumstances, then they should go." His statement has caused ripples in the auto industry. With such harsh words from the President-elect, is the Detroit's Big Three looking for a change in the top management?

Is the auto industry ready for the change? Its seems that bailout of auto industry would definitely throw out some top executives of auto companies.