As if it wasn’t already blatantly clear, today brings yet another reminder that if the government hates your company, you should not take their money. Today also re-clarifies the absurd double standard between the government’s approach to bailouts on Wall Street and bailouts to the automotive industry. None of this is news, of course, but it is noteworthy just the same.

If there is anything newsworthy to be seen here, it comes not from the ousting of Wagoner, but from the name of his apparent replacement. Unlike Obama’s automotive team, which does not include a single member with automotive or manufacturing experience, the new man at the helm looks to be someone who actually knows something about the industry. He is, indeed, GM’s now-former COO.

Of course, by being GM’s now-former COO, a natural question which comes to my mind is exactly what the point of the transition might be. While I suppose it is possible that Mr. Henderson will depart from GM’s history to date — like all new leaders, he is bound to want to do some things differently — one does not typically become a COO by holding an agenda significantly different than that of the man in the next seat higher. Plus, with GM already in the middle of a restructuring process which has been, by most accounts, moving in the right direction, a major course adjustment at this point would not only be unlikely, but unwise.

As far as adding value to GM goes, it may ultimately be worth it simply as a way to keep the capriciousness of clueless politicians off of the company’s back while it continues the business of trying to stay in business.  Between this, and the government’s ultimatum to Chrysler, Ford’s decision to leave the government money on the table just keeps seeming smarter all the time.