No wonder everyone is agianst them

[cletus8269]

its easy to see why everyone is dancing as they watch the big 3 flounder. this was in the paper today. it just infuriates me to no end. to top it off on the same page of the opinions section was a little quirp about the domestics begging for a bail out but sending all the jobs overseas and thn using the money for NASCAR sponsorships. i mean really. how misinformed can you possibly be?

[DSFD506]

Someone needs to start a C&G newspaper to battle this kind of crap.....oh BTW...don't you have someone to be scanning ???

Edited November 27, 2008 by DSFD506

[cletus8269]

no i'm not CT i am diagnostic

[DSFD506]

no i'm not CT i am diagnostic

hahaha.....well maybe we'll send one your way. Nothing like a good crazy person to make your nite go faster

[daves87rs]

[FAPTurbo]

What's so offensive about that? That comic is defending the employees, and workers of domestic auto companies, and making fun of the exorbitant salaries of the higher-ups.

[cletus8269]

dunno just seems to make them out to be greedy suits that dont care about the workers. i guess i am so pissed at the negative media it just seems to irk me when it even comes up in the news now.

especially when they seem to make it like its a waste of time and money when citi bank keeps getting dough shoveled in. the goledn parachute irks me too.

[FAPTurbo]

dunno just seems to make them out to be greedy suits that dont care about the workers. i guess i am so pissed at the negative media it just seems to irk me when it even comes up in the news now.

especially when they seem to make it like its a waste of time and money when citi bank keeps getting dough shoveled in. the goledn parachute irks me too.

Well, they ARE being paid a big chunk of coin. I understand running a multinational is hard work, and I don't want to join in on the 'red-ink Rick' bandwagon, but the pay isn't exactly corresponding with performance.

I agree that it's ironic that companies like Citi are being payed large amounts, and no one is publicly demanding a 'plan' from them.

[thegriffon]

Citi is a different case. It's not in need of a bailout so much as a boost in investor confidence. The government investment follows a large investment by another (Arabian) investor. That's not to say the mortgage crisis has not hurt them, but that their main problem is fear of loss rather than actual loss.

[thegriffon]

The thing about a golden parachute is—you don't get one if you don't leave.

[CARBIZ]

I read somewhere that CEO's salaries went from 13X the average worker's wage in the '50s to over 40X the average worker's wage by the '90s. Although one could argue that this is merely capitalism working as it should, how can one ignore the fact that there has been an explosion of the 'filthy' rich over the past couple decades? When PH condos can feth 30+ million dollars, something is way out of whack, IMO.

But who do we blame, ultimately? I think it is part and parcel of this entire 'globalism' push. A few of us were discussing this the other day and I use the example of dealer networks. What is the advantage to the customer or employee by one 'owner' controlling a half dozen or more dealers? Honestly, there are no advantages. The only advantage is to the owner themselves and to their family. If one dealer has a 7% margin and has $60million a year in sales, then the 'owner' has access to $6 million in profit to either re-invest or pocket. However, if he/she 'owns' 6 dealers, the potential rises to $36 million in profits.

The spin, of course, is that there is greater protection for all employees/customers involved because if one dealer falls on hard times, the others can prop it up. Ah, but that is the theory. However, in practice unless there is some sort of strong emotional tie, the 'owner' will merely jettison the poorly performing dealer and all it's employees/customers, too.

This is a microcosm of what is happening to GM and Ford these days: 'owners' who made their fortunes off GM/Ford are running like rats off a sinking ship to the safety of their Honda/Toyota dealerships, thus accelerating GM/Ford's demise.

On a global scale, none of these CEOs or board members have any personal/emotional stakes in the companies they run. If you check the Board lists of major corporations, you will find many of these guys/gals sit on at least 2 or more boards. In theory, this cross-pollination may seem to be beneficial by spreading around their expertise, but I also see this as being detrimental since these people are not necessarily commited to any one company. Mulally could be one example: does he even like Fords? Has he or his family ever even owned one before he became CEO of Ford?

It's very easy to get angry with Wagoner about this mess and I suspect because he is the public face of GM, he will be professionally humilated (although still very rich) if GM fails or he is dumped, but the rest of the Board members will just go back to running the other companies they sit on and the public at large will be none the wiser. Ditto for the other VPs and various Presidents at GM and Ford - most of them will land on their feet at other huge multinationals and continue undaunted.

Socialist papers love to whine about 'absent landlords,' but much the same can be said about multi-national corporations as they spread their tentacles around the globe.

[FUTURE_OF_GM]

Someone needs to start a C&G newspaper to battle this kind of crap.....oh BTW...don't you have someone to be scanning ???

We toyed with the idea of a C&G publication back in the site heyday.

[Charger4U]

Granted CEO's are outrageously payed, putting parts on car is not a 40 dollar an hour job.