Should we just let GM, Ford and Chrysler fail?

[vraiblonde]

Originally Posted by Pete

As far as the CEO's salary GM made 9.5 million cars in 2007. 90 cents per car went to the CEO's salary so that is not what one would consider big time "waste" when it comes in perspective of a $25,000 car.

So what? It's still $8.5 mil that they can't afford, if they're looking for a government handout.

And that is ONE executive's salary. Certainly there are many more who are making big $$$ also. If they can't afford to operate without my tax dollars, then they can't afford to pay their top people that kind of money.

So I get to cough up more money in my taxes, and these guys still get to rake in their millions? That's bull####.

Same with the Wall Street "paupers" who can pay their execs multi-millions, yet can't afford to run their businesses without our tax dollars.

[vraiblonde]

If a company can operate without my tax dollars, they can pay their execs anything they want - not my business. But when they take my money, NOW it becomes my business.

[Pete (Premo)]

Originally Posted by vraiblonde

So what? It's still $8.5 mil that they can't afford, if they're looking for a government handout.

And that is ONE executive's salary. Certainly there are many more who are making big $$$ also. If they can't afford to operate without my tax dollars, then they can't afford to pay their top people that kind of money.

So I get to cough up more money in my taxes, and these guys still get to rake in their millions? That's bull####.

Same with the Wall Street "paupers" who can pay their execs multi-millions, yet can't afford to run their businesses without our tax dollars.

I hear you but still executive salaries is miniscule compared to some of the other things they have to pay for that provide no benefit to you or I or anyone. If you say the top 10 executives make 50 million, it is equal to the operating costs of something like 4 hours for GM.

I might say GM is different than Bear Stearns because GM does have 266,000 blue collar workers whereas Bear Sterns was just a pimple on the ass of Wall Street.

I might be wrong.

My point is for all those who say "Eff it, let them fail" the ramifications could be staggering and I am not saying staggering like having to cut back on Direct TV movie packages, I am talking soup kitchen and world wide economic upheaval staggering.

[Wickedwrench]

Originally Posted by ylexot

Yeah, but what indispensable skills do the workers have now?

[vraiblonde]

Originally Posted by Pete

I hear you but still executive salaries is miniscule compared to some of the other things they have to pay for that provide no benefit to you or I or anyone. If you say the top 10 executives make 50 million, it is equal to the operating costs of something like 4 hours for GM.

That's neither here nor there. That's like saying, well, I can't afford my rent or electric bill, but I'm going to keep smoking and drinking beer because cigarettes are only 30 cents each, and a beer is only $1 a bottle. That stuff adds up and $8.5 million is still $8.5 million, regardless of how many cents per vehicle it comes out to.

My point is for all those who say "Eff it, let them fail" the ramifications could be staggering and I am not saying staggering like having to cut back on Direct TV movie packages, I am talking soup kitchen and world wide economic upheaval staggering.

Better to stagger now and make them mend their greedy ways than be staggering forever bailing them out when they can't get their financial act together.

[itsbob (Premo)]

Originally Posted by Wickedwrench

People on your end are a little different than the guy working at the factory.


I can't think of any skillset at the manufacturing facility that would be considered a craftsman, other than the guy that programs the robots, and even they probably come from the robot manufacturer and not the car company.

[Wickedwrench]

Originally Posted by vraiblonde

So what? It's still $8.5 mil that they can't afford, if they're looking for a government handout.

And that is ONE executive's salary. Certainly there are many more who are making big $$$ also. If they can't afford to operate without my tax dollars, then they can't afford to pay their top people that kind of money.

So I get to cough up more money in my taxes, and these guys still get to rake in their millions? That's bull####.

Same with the Wall Street "paupers" who can pay their execs multi-millions, yet can't afford to run their businesses without our tax dollars.

I've been saying this for years. Google Jacques Nasser. I'm still putting up with his crap and he's been gone for years. That golden parachute he jumped with was a healthy one.

[toppick08 (Premo)]

Hate Unions..

Go Nucor Steel.........

[vraiblonde]

If Obama really wanted to "spread the wealth", he'd take a look at what these companies are paying their execs before he agrees to any kind of financial bailout. Why should some guy make $8.5 mil a year heading a failing company that can't pay its bills and has to get welfare from the government?

[Wickedwrench]

Originally Posted by itsbob

People on your end are a little different than the guy working at the factory.


I can't think of any skillset at the manufacturing facility that would be considered a craftsman, other than the guy that programs the robots, and even they probably come from the robot manufacturer and not the car company.

I remember taking a tour of the GM minivan factory years ago. The vans were going down the assembly line with workers asleep in the backs of them. One poor guy had to boot his coworker out of the van so he could bolt the seats into it.

You're right, there wasn't too much skilled labor going on there.