WSJ: GM'S BOARD IS STILL WITH WAGONER

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Rick Wagoner's junket to Washington D.C. may have flopped (or not according to a story of an emerging secret bipartisan deal posted on the Drudge Report), but "the wheels have not come off of the Wagon[er]" in the eyes of General Motors' Board of Directors.

GM's board has continued to support Chief Executive Rick Wagoner, despite big losses over the past three years, in part because he was able to negotiate big labor and health-care cost cuts with its unions. A defeat in Washington followed by a bankruptcy filing might undermine his position, a person familiar with the matter said.

The board hasn't changed its support for the CEO, said GM spokesman Tony Cervone.