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| Topic: The Auto Manufacters Bailout Part 69 | |
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Edited by
Unknow
on
Tue 11/18/08 11:36 AM
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What people fail to realize is the Auto companies in the late 80s early 90s changed the way they did business. It started farming out its production to smaller less paying factories. Parts on demand...Parts from all over in all makes of cars.American made huh, it has japanese parts in it, as do the japanese cars have American parts. These smaller factories thrived then and larger ones were closed. The Auto industries affect a lot more than just the manufacturers.. Thoughts?
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most Japanese cars are built in America too. With American parts and labor. But they manage their businesses better
American car companies are all about the perks for management and fat union contracts GM hired Ross Perot in the 80's to streamline their management. When he said 50% of upper management had to go they wound up buying him out (for $6 billion) rather than letting him cut management |
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most Japanese cars are built in America too. With American parts and labor. But they manage their businesses better American car companies are all about the perks for management and fat union contracts GM hired Ross Perot in the 80's to streamline their management. When he said 50% of upper management had to go they wound up buying him out (for $6 billion) rather than letting him cut management |
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most Japanese cars are built in America too. With American parts and labor. But they manage their businesses better American car companies are all about the perks for management and fat union contracts GM hired Ross Perot in the 80's to streamline their management. When he said 50% of upper management had to go they wound up buying him out (for $6 billion) rather than letting him cut management |
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quality is what u see in the interiors....look underneath the car...crap....ask you local tow truck driver what he thinks of these new cars..cant even winch them without bending parts etc....not made to last....and look at your repairs bills....LOL...good luck with quality
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quality is what u see in the interiors....look underneath the car...crap....ask you local tow truck driver what he thinks of these new cars..cant even winch them without bending parts etc....not made to last....and look at your repairs bills....LOL...good luck with quality |
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Ill will bet the biggest $$$$$$ problem for the manufacters is health care for their retired and workers. When are people gonna learn that health care bleeds into all aspects of our lives and see what it is costing us.
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Senate rips auto industry
Dodd calls executives 'devoid of vision' and business model 'failed' as Big Three seeks $25 billion in taxpayer money. EMAIL | PRINT | SHARE | RSS * Yahoo! Buzz * DIGG * DEL.ICIO.US * STUMBLE UPON * MYSPACE * MIXX IT Subscribe to Economy google my aol my msn my yahoo! netvibes feed://rss.cnn.com/rss/money_news_economy.rss Paste this link into your favorite RSS desktop reader See all CNNMoney.com RSS FEEDS (close) By Steve Hargreaves, CNNMoney.com staff writer Last Updated: November 18, 2008: 4:34 PM ET AMERICA'S MONEY CRISIS * Senate rips auto industry * Internet retail growth rate at 7-year low * Stocks fight back * Thanksgiving travel to wane * What entrepreneurs are feeling: Fear Photos GM's downward spiral: A timeline GM's downward spiral: A timeline GM's downward spiral: A timeline GM's downward spiral: A timeline The Detroit automaker's whopping $15.5 billion quarterly loss Friday wasn't a record, but it's the latest chapter in a steady slide that began more than 20 years ago. View photos NEW YORK (CNNMoney.com) -- Skeptical Senators grilled auto industry executives at a hearing Tuesday, calling them short sighted and unimaginative, as they seek a $25 billion taxpayer-funded bailout to ward off looming bankruptcy. "Their board rooms in my view have been devoid of vision," said Sen. Chris Dodd (D-CT), chairman of the Senate Banking, Housing and Urban Affairs Committee, in opening remarks at a hearing attended by the executives of the nation's Big Three automakers. "The Big Three turned a blind eye to opportunities. They have promoted and often driven the demand of inefficient, gas guzzling vehicles, and dismissed the threat of global warming." Dodd called the hearing "an opportunity to reject a subsidy for failed business practices." Other Senators agreed. "We have little evidence this $25 billion will do anything to promote long term success," said Michael Enzi (R-Wyo.) "I'm pretty sure if you took this bill to your banker and asked for $25,000, he'd send you back to do more work." But the request is not without its supporters. "Survival of the auto companies is imperative for America to remain the global leader in innovation," said Sen. Charles Schumer (D-NY). "We should not drop out of the race before we have a chance to compete." "We can't afford to lose thousands of jobs," said Sen. Robert Casey (D-Penn.) "What is a recession could become a depression if these companies fail in the next couple of months." The U.S. auto industry, already struggling due to high labor costs and weak brands, is being stung further as car buying grinds to a halt amid credit difficulties, job losses and fears of a recession. The industry has been lobbying hard for a $25 billion loan from the $700 billion government bailout originally slated for the finance sector. Without it, General Motors (GM, Fortune 500) will likely go bankrupt within months, and Ford (F, Fortune 500) and Chrysler could soon follow. In prepared testimony released before the hearing, Chrysler's Chairman & CEO Robert Nardelli said the industry needs assistance because of "the devastating automotive industry recession caused by our nation's financial meltdown, and the current lack of consumer credit, which has resulted in the critical lack of liquidity." If bankruptcy occurs, the industry and its supporters say the blow to the U.S. economy would be huge. They say nearly 2 million jobs are either directly or indirectly tied to the auto sector, and that Detroit is a pillar of the American manufacturing economy. Supporters also claim the government would lose over $100 billion in tax revenue over the next few years if the auto industry goes belly-up. The industry says it needs the loans to hold it over until the economy improves, their new models can woo consumers and savings from labor contracts have a chance to kick in. Without a bailout, Nardelli stressed that "this would put at risk health care coverage for retirees, which is part of Chrysler's nearly $20 billion total health care obligation, $2 billion in annual pension payments to our retirees and surviving spouses, approximately $7 billion in current payables, $35 billion in future annual supplier business and 56,600 direct Chrysler employees earning $6 billion in wages." But critics say problems with the U.S. auto industry are systemic, and giving them $25 billion would only delay the inevitable. They also say it would encourage other mismanaged businesses to come to the government, hat in hand, a proposition the American taxpayer cannot afford. They say bankruptcy would be the best thing for the industry, allowing automakers to shed expensive labor contracts and reorganize as smaller, more efficient firms. So far, it appears unlikely the current Congress will let the industry borrow $25 billion under the bailout plan. While many Democrats support the move, most Republicans and some Democrats are against it, and the measure is not thought to have enough votes to pass the Senate. And automakers say that waiting for assistance until the new Congress is in session next year could jeopardize their financial health. Bankruptcy, they fear, would not result in reorganization, but quick liquidation in this tight credit environment." Rather than grant $25 billion in new loans from the bailout, the White House wants to modify $25 billion in loans that were originally granted in September to allow automakers to use that money to pay their bills. Originally, those loans were supposed to help Detroit make more fuel-efficient vehicles. Some think the White House proposal stands a better chance of passing Congress. "I think the proposal that the administration has made - to basically change the qualifications of the money that we have already appropriated - is a sound way to go forward," Senate Minority Leader Mitch McConnell (R-Ky.), said Tuesday. To top of page First Published: November 18, 2008: 3:25 PM ET This is typical. Why because it really is a middle class issue. The Federal Reserve who is not owned buy the Govt. who loans money to our banks is owned by the richest Billionaires in our country. The Bail out of the banking industry has you believe this is bailing us out. Frankly I do not believe it. Who is the biggest investors to lose if the 700 Billion bailout does not go through. below you can see who has the most to lose on the 700 Billion Bailout. @5 Billion to the auto industry is small in comparison. Who does the Auto industry help. You and Me or the Workers of the middle class who do not have to have on the most part a college education to feed thier families. I am glad to see a few congressman are sticking up for us. Many of these same congressman are the same ones who wanted NAFTA so bad to get rid of good jobs for the middle class. Now you would think that who is getting this big bailout would have to say where thier money has gone. No they follow the Bush lead and refuse. Have you heard that on your nightly NEWS. I need a bailout but i will not tell you where 2 Trillion went....... On November 7, 2008, Bloomberg News requested details of Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit seeking to force disclosure. According to a Bloomberg News article:[123] The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Something is very wrong. We scream Bloody Murder over 25 Billion to keep 2 million jobs. And 2 Trillion we are SILENT. N.M. Rothschild , London - Bank of England ______________________________________ | | | J. Henry Schroder | Banking | Corp. | | Brown, Shipley - Morgan Grenfell - Lazard - | & Company & Company Brothers | | | | | --------------------| -------| | | | | | | | | Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---| & Son | Harriman Norman | Paris Bros | | | / | N.Y. | | | | | | | | Governor, Bank | J.P. Morgan Co -- Lazard ---| | of England / N.Y. Morgan Freres | | 1924-1938 / Guaranty Co. Paris | | / Morgan Stanley Co. | / | / | \Schroder Bank | / | Hamburg/Berlin | / Drexel & Company / | / Philadelphia / | / / | / Lord Airlie | / / | / M. M. Warburg Chmn J. Henry Schroder | | Hamburg --------- marr. Virginia F. Ryan | | | grand-daughter of Otto | | | Kahn of Kuhn Loeb Co. | | | | | | Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y. | | -------------------------- | | | | | | | | Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn | | __|______________________|_________ Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg - ------------------------- | | | | | Mortimer Schiff James Paul Warburg _____________|_______________/ | | | | | | Mayer Lehman | Emmanuel Lehman \ | | | \ Herbert Lehman Irving Lehman \ | | | \ Arthur Lehman \ Phillip Lehman John Schiff/Edith Brevoort Baker / | Present Chairman Lehman Bros / Robert Owen Lehman Kuhn Loeb - Granddaughter of / | George F. Baker | / | | / | | / Lehman Bros Kuhn Loeb (1980) | / | | / Thomas Fortune Ryan | | | | | | Federal Reserve Bank Of New York | |||||||| | ______National City Bank N. Y. | | | | | National Bank of Commerce N.Y ---| | | \ | Hanover National Bank N.Y. \ | | \ | Chase National Bank N.Y. \ | | | | Shareholders - National City Bank - N.Y. | - ----------------------------------------- | | / James Stillman / Elsie m. William Rockefeller / Isabel m. Percy Rockefeller / William Rockefeller Shareholders - National Bank of Commerce N. Y. J. P. Morgan ----------------------------------------------- M.T. Pyne Equitable Life - J.P. Morgan Percy Pyne Mutual Life - J.P. Morgan J.W. Sterling H.P. Davison - J. P. Morgan NY Trust/NY Edison Mary W. Harriman Shearman & Sterling A.D. Jiullard - North British Merc. Insurance | Jacob Schiff | Thomas F. Ryan | Paul Warburg | Levi P. Morton - Guaranty Trust - J. P. Morgan | | Shareholders - First National Bank of N.Y. - ------------------------------------------- J.P. Morgan George F. Baker George F. Baker Jr. Edith Brevoort Baker US Congress - 1946-64 | | | | | Shareholders - Hanover National Bank N.Y. - ------------------------------------------ James Stillman William Rockefeller | | | | | Shareholders - Chase National Bank N.Y. - --------------------------------------- George F. Baker We need ANSWERS |
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Edited by
Unknow
on
Tue 11/18/08 03:03 PM
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Senate rips auto industry Dodd calls executives 'devoid of vision' and business model 'failed' as Big Three seeks $25 billion in taxpayer money. EMAIL | PRINT | SHARE | RSS * Yahoo! Buzz * DIGG * DEL.ICIO.US * STUMBLE UPON * MYSPACE * MIXX IT Subscribe to Economy google my aol my msn my yahoo! netvibes feed://rss.cnn.com/rss/money_news_economy.rss Paste this link into your favorite RSS desktop reader See all CNNMoney.com RSS FEEDS (close) By Steve Hargreaves, CNNMoney.com staff writer Last Updated: November 18, 2008: 4:34 PM ET AMERICA'S MONEY CRISIS * Senate rips auto industry * Internet retail growth rate at 7-year low * Stocks fight back * Thanksgiving travel to wane * What entrepreneurs are feeling: Fear Photos GM's downward spiral: A timeline GM's downward spiral: A timeline GM's downward spiral: A timeline GM's downward spiral: A timeline The Detroit automaker's whopping $15.5 billion quarterly loss Friday wasn't a record, but it's the latest chapter in a steady slide that began more than 20 years ago. View photos NEW YORK (CNNMoney.com) -- Skeptical Senators grilled auto industry executives at a hearing Tuesday, calling them short sighted and unimaginative, as they seek a $25 billion taxpayer-funded bailout to ward off looming bankruptcy. "Their board rooms in my view have been devoid of vision," said Sen. Chris Dodd (D-CT), chairman of the Senate Banking, Housing and Urban Affairs Committee, in opening remarks at a hearing attended by the executives of the nation's Big Three automakers. "The Big Three turned a blind eye to opportunities. They have promoted and often driven the demand of inefficient, gas guzzling vehicles, and dismissed the threat of global warming." Dodd called the hearing "an opportunity to reject a subsidy for failed business practices." Other Senators agreed. "We have little evidence this $25 billion will do anything to promote long term success," said Michael Enzi (R-Wyo.) "I'm pretty sure if you took this bill to your banker and asked for $25,000, he'd send you back to do more work." But the request is not without its supporters. "Survival of the auto companies is imperative for America to remain the global leader in innovation," said Sen. Charles Schumer (D-NY). "We should not drop out of the race before we have a chance to compete." "We can't afford to lose thousands of jobs," said Sen. Robert Casey (D-Penn.) "What is a recession could become a depression if these companies fail in the next couple of months." The U.S. auto industry, already struggling due to high labor costs and weak brands, is being stung further as car buying grinds to a halt amid credit difficulties, job losses and fears of a recession. The industry has been lobbying hard for a $25 billion loan from the $700 billion government bailout originally slated for the finance sector. Without it, General Motors (GM, Fortune 500) will likely go bankrupt within months, and Ford (F, Fortune 500) and Chrysler could soon follow. In prepared testimony released before the hearing, Chrysler's Chairman & CEO Robert Nardelli said the industry needs assistance because of "the devastating automotive industry recession caused by our nation's financial meltdown, and the current lack of consumer credit, which has resulted in the critical lack of liquidity." If bankruptcy occurs, the industry and its supporters say the blow to the U.S. economy would be huge. They say nearly 2 million jobs are either directly or indirectly tied to the auto sector, and that Detroit is a pillar of the American manufacturing economy. Supporters also claim the government would lose over $100 billion in tax revenue over the next few years if the auto industry goes belly-up. The industry says it needs the loans to hold it over until the economy improves, their new models can woo consumers and savings from labor contracts have a chance to kick in. Without a bailout, Nardelli stressed that "this would put at risk health care coverage for retirees, which is part of Chrysler's nearly $20 billion total health care obligation, $2 billion in annual pension payments to our retirees and surviving spouses, approximately $7 billion in current payables, $35 billion in future annual supplier business and 56,600 direct Chrysler employees earning $6 billion in wages." But critics say problems with the U.S. auto industry are systemic, and giving them $25 billion would only delay the inevitable. They also say it would encourage other mismanaged businesses to come to the government, hat in hand, a proposition the American taxpayer cannot afford. They say bankruptcy would be the best thing for the industry, allowing automakers to shed expensive labor contracts and reorganize as smaller, more efficient firms. So far, it appears unlikely the current Congress will let the industry borrow $25 billion under the bailout plan. While many Democrats support the move, most Republicans and some Democrats are against it, and the measure is not thought to have enough votes to pass the Senate. And automakers say that waiting for assistance until the new Congress is in session next year could jeopardize their financial health. Bankruptcy, they fear, would not result in reorganization, but quick liquidation in this tight credit environment." Rather than grant $25 billion in new loans from the bailout, the White House wants to modify $25 billion in loans that were originally granted in September to allow automakers to use that money to pay their bills. Originally, those loans were supposed to help Detroit make more fuel-efficient vehicles. Some think the White House proposal stands a better chance of passing Congress. "I think the proposal that the administration has made - to basically change the qualifications of the money that we have already appropriated - is a sound way to go forward," Senate Minority Leader Mitch McConnell (R-Ky.), said Tuesday. To top of page First Published: November 18, 2008: 3:25 PM ET This is typical. Why because it really is a middle class issue. The Federal Reserve who is not owned buy the Govt. who loans money to our banks is owned by the richest Billionaires in our country. The Bail out of the banking industry has you believe this is bailing us out. Frankly I do not believe it. Who is the biggest investors to lose if the 700 Billion bailout does not go through. below you can see who has the most to lose on the 700 Billion Bailout. @5 Billion to the auto industry is small in comparison. Who does the Auto industry help. You and Me or the Workers of the middle class who do not have to have on the most part a college education to feed thier families. I am glad to see a few congressman are sticking up for us. Many of these same congressman are the same ones who wanted NAFTA so bad to get rid of good jobs for the middle class. Now you would think that who is getting this big bailout would have to say where thier money has gone. No they follow the Bush lead and refuse. Have you heard that on your nightly NEWS. I need a bailout but i will not tell you where 2 Trillion went....... On November 7, 2008, Bloomberg News requested details of Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit seeking to force disclosure. According to a Bloomberg News article:[123] The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Something is very wrong. We scream Bloody Murder over 25 Billion to keep 2 million jobs. And 2 Trillion we are SILENT. N.M. Rothschild , London - Bank of England ______________________________________ | | | J. Henry Schroder | Banking | Corp. | | Brown, Shipley - Morgan Grenfell - Lazard - | & Company & Company Brothers | | | | | --------------------| -------| | | | | | | | | Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---| & Son | Harriman Norman | Paris Bros | | | / | N.Y. | | | | | | | | Governor, Bank | J.P. Morgan Co -- Lazard ---| | of England / N.Y. Morgan Freres | | 1924-1938 / Guaranty Co. Paris | | / Morgan Stanley Co. | / | / | \Schroder Bank | / | Hamburg/Berlin | / Drexel & Company / | / Philadelphia / | / / | / Lord Airlie | / / | / M. M. Warburg Chmn J. Henry Schroder | | Hamburg --------- marr. Virginia F. Ryan | | | grand-daughter of Otto | | | Kahn of Kuhn Loeb Co. | | | | | | Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y. | | -------------------------- | | | | | | | | Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn | | __|______________________|_________ Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg - ------------------------- | | | | | Mortimer Schiff James Paul Warburg _____________|_______________/ | | | | | | Mayer Lehman | Emmanuel Lehman \ | | | \ Herbert Lehman Irving Lehman \ | | | \ Arthur Lehman \ Phillip Lehman John Schiff/Edith Brevoort Baker / | Present Chairman Lehman Bros / Robert Owen Lehman Kuhn Loeb - Granddaughter of / | George F. Baker | / | | / | | / Lehman Bros Kuhn Loeb (1980) | / | | / Thomas Fortune Ryan | | | | | | Federal Reserve Bank Of New York | |||||||| | ______National City Bank N. Y. | | | | | National Bank of Commerce N.Y ---| | | \ | Hanover National Bank N.Y. \ | | \ | Chase National Bank N.Y. \ | | | | Shareholders - National City Bank - N.Y. | - ----------------------------------------- | | / James Stillman / Elsie m. William Rockefeller / Isabel m. Percy Rockefeller / William Rockefeller Shareholders - National Bank of Commerce N. Y. J. P. Morgan ----------------------------------------------- M.T. Pyne Equitable Life - J.P. Morgan Percy Pyne Mutual Life - J.P. Morgan J.W. Sterling H.P. Davison - J. P. Morgan NY Trust/NY Edison Mary W. Harriman Shearman & Sterling A.D. Jiullard - North British Merc. Insurance | Jacob Schiff | Thomas F. Ryan | Paul Warburg | Levi P. Morton - Guaranty Trust - J. P. Morgan | | Shareholders - First National Bank of N.Y. - ------------------------------------------- J.P. Morgan George F. Baker George F. Baker Jr. Edith Brevoort Baker US Congress - 1946-64 | | | | | Shareholders - Hanover National Bank N.Y. - ------------------------------------------ James Stillman William Rockefeller | | | | | Shareholders - Chase National Bank N.Y. - --------------------------------------- George F. Baker We need ANSWERS |
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My main issue is that we are bailing out the banking system with 700 Billion.
The federal Reserve is the Banking system in most part. It is not federal at all. It is a private organization owned by a few. Those few are the wealthists Billionaires in the world. Just after the Election they were asked to account for 2 Trillion dollars. They refused. On November 7, 2008, Bloomberg News requested details of Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit seeking to force disclosure. According to a Bloomberg News article:[123] The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. I did not see anything in our news about 700 Billion going to a syatem who will not say where 2 trillion went. The auto industry says they need 25 billion. 2 million jobs could be at stake. A lot of good paying jobs. Yet congress throws a fit over this. Now who is congress really looking out for. Billionaires who may have sqandered 2 Trillion. Or us to give us some reassurance with 25 Billion. Is it really a question? |
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The issue is : why when these companies are losing money they still pay their executives millions in salaries and millions in bonuses ? !.
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"This is typical.
Why because it really is a middle class issue" PLZ explain that. |
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Edited by
Unknow
on
Tue 11/18/08 03:25 PM
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I am truly for a free market, let it fail. Our economy and market is a self healer. Proven!! But we are doing it anyway. I say if we do it do the dam thing right. Retool the trucks to Natural gas and infrastructure for it over time. Easy you can put refuelers on wheels. Wean in the cars over time. Creates jobs all around and lessons are dependence on foreign oil. JMO Check out http://www.pickensplan.com/index.php Even if you don't agree with him the facts are there about oil. Oh but gas is only $2.19 so why the worry.
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The issue is : why when these companies are losing money they still pay their executives millions in salaries and millions in bonuses ? !. |
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"This is typical. Why because it really is a middle class issue" PLZ explain that. Our Congress is screaming about 25 billion that it is possible if they do not loan it we could lose 2 million jobs and fall in to a Depression. All Depressions make the rich richer. They buy up all we have and then when we come out of it sell it to us at a huge profit. The same billionaires are the ones wanting 700 billion and congress says yes. Depression well that would be ok. The ones we bailed out now will get even richer. This is the way communism breeds. 2 classes of people. The poor and the rich. I see that written all over this. IMO NAFTA was a tarriff that we had set in place to make sure we were buying american products keeping american jobs. How much has the American Auto industry and us suffered from that decision? I have a friend I believe he told me this in 2003. He owns a chrysler dealership in the midwest. He told me one day a VP from headquarters was visiting the dealerships. They got into a discussion about a new state of the art robotic Plant that had just opened up in Old Mexico. They had moved a plant thier and laid off 3000 jobs that averaged more that 50k a year each. He also went on to explain they were now saving 1700 dollars a car. What do you think they claim they were paying the average employee to save this 1700? $2.45 cents a day. he could not believe it me either. I told him I would gladly pay 1700 more for a car to keep 3000 50k a year jobs. Thier is a fight going on to try an rid the middle class. Then they can do whatever they want and we do as they say or starve |
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Edited by
Unknow
on
Tue 11/18/08 04:16 PM
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"This is typical. Why because it really is a middle class issue" PLZ explain that. Our Congress is screaming about 25 billion that it is possible if they do not loan it we could lose 2 million jobs and fall in to a Depression. All Depressions make the rich richer. They buy up all we have and then when we come out of it sell it to us at a huge profit. The same billionaires are the ones wanting 700 billion and congress says yes. Depression well that would be ok. The ones we bailed out now will get even richer. This is the way communism breeds. 2 classes of people. The poor and the rich. I see that written all over this. IMO NAFTA was a tarriff that we had set in place to make sure we were buying american products keeping american jobs. How much has the American Auto industry and us suffered from that decision? I have a friend I believe he told me this in 2003. He owns a chrysler dealership in the midwest. He told me one day a VP from headquarters was visiting the dealerships. They got into a discussion about a new state of the art robotic Plant that had just opened up in Old Mexico. They had moved a plant thier and laid off 3000 jobs that averaged more that 50k a year each. He also went on to explain they were now saving 1700 dollars a car. What do you think they claim they were paying the average employee to save this 1700? $2.45 cents a day. he could not believe it me either. I told him I would gladly pay 1700 more for a car to keep 3000 50k a year jobs. Thier is a fight going on to try an rid the middle class. Then they can do whatever they want and we do as they say or starve |
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Edited by
Unknow
on
Tue 11/18/08 06:39 PM
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Kool aide time...
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The issue is : why when these companies are losing money they still pay their executives millions in salaries and millions in bonuses ? !. Look at AIG.. They went and asked for money for a 2nd time and got approved and only to find out that they were misappropriating funds and using the money for vacations, and using the money for their employees rather than using it for what it was really for. I think the government needs to stop handing out money to these idiots and let them file bankruptcy like the airlines had to do. AIG needs to shut its doors and the CEO needs a kick in the azz. Just my opinion. |
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The issue is : why when these companies are losing money they still pay their executives millions in salaries and millions in bonuses ? !. Look at AIG.. They went and asked for money for a 2nd time and got approved and only to find out that they were misappropriating funds and using the money for vacations, and using the money for their employees rather than using it for what it was really for. I think the government needs to stop handing out money to these idiots and let them file bankruptcy like the airlines had to do. AIG needs to shut its doors and the CEO needs a kick in the azz. Just my opinion. |
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