Which happened when GM received TARP money last year.
This should be the duty of the board of directors and shareholders to decide who to hire and who to fire.
In an independent business which is a going concern, sure. That description no longer applies to GM, however.
By what right does the President of the United States have a right to decide who works at any corporation? Where is that in the Constitution?
It's not an acceptable outcome by any stretch of the imagination, there's no argument. But it's less offensive than the government simply throwing cash at a failing business without taking any oversight responsibility or imposing any accountability whatsoever.
The rich rule over the poor and the borrower is servant to the lender. Proverbs 22-7.
Keep in mind, however, its not Obama's money.