TomW

However, let's say a CEO has a 3 million dollar "golden parachute"... How far will that go in putting a dent in a multi billion dollar expense?

Shovelhead

Many of the expenses incured to create that Multi-Billion dollar problem were created by Corporate decisions initiated by that same GWT and his buddys.

And how many GWTs slightly down the food chain have similar bennies?

It's kind of like blaming the pump attendant for you having to pay $3.00 for a gallon of fuel.

grantx5

Let's face it, in America there is a god is his name is MONEY. Everybody worships him, everybody loves him, no one can get enough of him.

Blame management, unions, workers, BUYERS (we want to keep our god), and so on. The economy, our society, our media, our government, schools, politicians, churchs, blah, blah, blah are all driven by MONEY.

Look at the poll results in England. Kids said that the most important things in life are fame and fortune.

Bottom-line, things will go to ???? in a hand-basket pretty quick when the only thing folks love is their MONEY.

In the end we are all connected to the problem in some way.

...gotta go, gotta check my investments, hope to be a full-time RVer soon. Amen.

phox_mulder

No matter how bad a company, any company, is doing finacially, does the CEO, CFO, or any other acronymed head of the company ever take a pay cut?

Didn't think so.

phox

(DTR aside, I'm sure the CFO and MOD's would gladly take a pay cut. )

FiverBob

Hey, let's start with the Senate and Congress - - maybe they could show the corporate world how to do it. First, let's limit them to no more than two terms and get rid of some of the dead meat. Then, let's kill that huge retirement package they voted in for themselves. They can serve one four year term and be set for the rest of their life. Make them go on Social Security - - then that will get fixed, too.

MikeyB

Amen brother.

MikeyB

P.J

Wise as always Bob.

Didn't someone run on the platform "Kick the Bums Out"? (seriously)

We desperately need term limits and a real close look at the lack of checks and balances when it comes to the pay/benefits/retirement situtaion these crooks create for themselves.

I'll tell you, this goes across party lines. We get ripped by 98% of them, theres no incentive to be honest or really even care.

TomW

So much for the doom and gloom. Stocks were actually up for Ford today after the announcement.

Begle1

You can blame the workers' unions for being too greedy, and that's valid. You can blame the management for being total morons, and that's valid. But what about their engineers? I'm not convinced that GM's engineers aren't a bunch of old 50-60 year olds who haven't thought up anything new in 20 years and just sit on their butts all day waiting to retire so that they can collect pensions.

You could say that management isn't allowing the engineers to actually engineer the product, but when's the last time you've ridden in any GM car? I've driven in an Impala, Monte Carlo (glorified Impala) and Cavalier, and they were all so far below par that somebody would be a fool to buy one compared to similar offerings from Toyota, Nissan, Honda, or any Euro company. I don't care if GM's products are cheaper if the Impala has utterly poor visibility and my hands don't fit on the wheel or if the Cavalier comes off the lot with bad alignment and a squeaking suspension.

Don't forget that their products are, by and large, total crap.

Shovelhead

IMHO one of the first things to be addressed is their automatic pay increases.
Years ago, they had to vote to GIVE themselves a pay raise.
Each time it came up, the constituants would raise the roof over the FAT Cats lining their ever-deeper pockets with Taxpayer cash.
Then they passed the rule (I don't know how that one never seemed to be in the news) that made their pay increase automatic, and now they need to vote NOT to get it.
It's amazing, but with the minisule amount of REAL work that gets done on Capital Hill, they never seem to have enough time in their schedule for that particular issue to make it to the table for a vote.......

MikeyB

Yep, that's what happens when the marketers and bean counters dictate the final product and not the engineers. I know, every once in awhile we have to breakout the night sticks and rubber hoses on the marketing folks.

MikeyB

Ph4tty

Yep. Last I heard the fed was worried about inflation- which indicates the economy is growing at a good pace. Maybe too fast for the fed's taste. Has Greenspan retired yet?

Mcmopar

I am concerned about America as a whole, the wages that the unions demand are REDICULOUS, I had a friend at New Venture gear-18 bucks an hour to sweep the floor?? Crazy. ALL of the politicians are selling America out, they overpay themselves and have NO touch with the reality of the working class. I work for a small company, no raise in three years, yet I am happy to be employed. We try to do business overseas, a bunch of crap-the tarrifs placed on our products keep us from being competitive, yet I can import all of the foreign product I want with no tarrifs?? Go figure, I pray that my liitle boy will get to have a decent life, but I don't know!!!

What else can I say??

TomW

Yes, he has. Rumor has it his replacement isn't going to do anything drastic for the time being.

Begle1

But that can't be true, Republicans are the fiscally responsible and free market party, remember?

What's it going to take to send a jolt of realism through the House? An end of gerrymandering would be good, as would term limits...