Ford, Honda, Nissan work under the same taxes and regulations that GM and Chrysler face. They are not going out of business or taking bail-out money. You can’t blame the failure of GM and Chrysler on the government or the unions. Paying executives million dollar “retention bonuses” after they have run the company into the ground is insane. Retain them for WHAT?? Orchestrating the bankruptcy? Who else is going to hire these failures?
mudder50, there is nothing to stop you from assembling your resume with a cover letter to send to the top exec. at Chrysler. In your cover letter, you can specify your ideas for building cars at a profit. Take one of those jobs with an obscene salary for yourself!
Meanwhile I have a question for you: Why do union people call management people who want the most for themselves, greedy but management people don’t call union people who want the most for themselves, greedy?
There isn’t any conspiracy, it’s just numbers. Chrysler and the other automakers are taxed far too much. Cafe standards cost too much, which are imposed by the government and the crack-pots that believe that cars are destroying the planet. But you go on ahead believing everything Anderson Cooper tells you.
Really? And how many cars are allowed to be exported to Japan? Also Japanese automakers do not pay the same taxes that US automakers do. Japanese automakers are and always have been subsidized by their government. Japanese automakers pay their employees less than half what US automakers pay their employees, and do not provide health insurance (in Japan). GM is more of a health care provider than an automaker, thanks unions. It is not anywhere close to a level playing field.
Wow! $55k a year. I have a degree in chemistry and worked for 16 years before I saw a yearly salary of $52k a year. Starting salaries in my field have not risen much since I graduated in 1984. Now that I’m looking for a job again, the best I was able to find was $18/hr for a position that required several years of experience.
I’ve also worked at a refinery that had a union. I saw quite a few poor workers that were protected by that union (one inept employee that should have been fired long ago wouldn’t have anything to do w/the union that was protecting him from being fired).
That said, I buy GM products and try to buy USA produced products (avoiding Chinese manufactured goods at all cost) whenever possible.
I agree. Jeremy Clarkson said it best “GM is a healthcare and pension company, with a money-losing side business of making cars.”
I also agree that the sense of entitlement of the American autoworker (largely brought on by the unions) is at least partially to blame. I’m not saying that management isn’t to blame either. But it’s pure fantasy to think that the unions didn’t exacerbate the situation.
WOW…Been listening to Rush Limbaugh to much perhaps.
Sorry…but this mess we’re now in has NOTHING…to do with too much government regulations…in fact this problem may not have happened if there were MORE regulations. The oil mess is PURE greed…From the oil companies and the speculative investors (which were also the oil companies). Greed from loan companies selling very very bad loans as GOOD…and individuals taking out loans so they could make a big profit in 6 months…Greed from Corporate executives who’ve shipped MILLIONS of jobs overseas to increase profits and they can get their million dollar bonuses.
Just don’t forget that in a capitalist society, there are always “big players” and conversely small players.
The problem is we have way too many BIG players…not enough little players. Our society can NOT survive if our capitalistic system doesn’t change. 40 years ago a CEO’s average salary was about 10 times the average worker…now it’s 100 times the average worker…yup…that’s government regulations at work there.
EXCELLENT…
While some execs are at fault, none of them are driving Chrysler into the ground without help from the government.
What government regulation/law/policy is causing this?? Inquiring minds want to know.
Here in NH…it’s damn near IMPOSSIBLE to live in $35k…Forget about it if you have kids…unless BOTH parents work making $35k/yr.
Ok MikeInMH…you win. I want the automakers and all the rich people that run them to fail and to be punished. Just remember though, if you ever become rich and successful, you will then need to be punished as well.
There isn’t any conspiracy, it’s just numbers. Chrysler and the other automakers are taxed far too much. Cafe standards cost too much, which are imposed by the government and the crack-pots that believe that cars are destroying the planet.
WHAT…Are you NUTS???
Do you mean to say that every other car manufacturer doesn’t have to meet Cafe’ numbers??? That GM and Chrysler are taxed DIFFERENTLY then every other car manufacturer??? Please explain this Cr*p.
Obviously you haven’t a clue.
And how many cars are allowed to be exported to Japan?
As MANY as they want. What restrictions are stopping them???
Also Japanese automakers do not pay the same taxes that US automakers do.
For every Japanese Automarkers car that’s made in the US…they sure do pay the same taxes…Where are you getting your mis-information…Beef is that you???
Japanese automakers pay their employees less than half what US automakers pay their employees
NOT in the US…Camry, Accord, Civic are ALL made here in the US by US workers…getting paid about 20% less then their US counterparts…and they have EXCELLENT health benefits.
. GM is more of a health care provider than an automaker, thanks unions.
7 years ago when GM made RECORD PROFITS…they had the cash on hand then to shore up the health insurance problem…they did NOTHING…They wanted to pay dividends to the stock holders and well over $200 million in bonuses their executives instead…again you haven’t a clue.
Ok MikeInMH…you win. I want the automakers and all the rich people that run them to fail and to be punished. Just remember though, if you ever become rich and successful, you will then need to be punished as well.
Where did I ever say rich/successful people should be punished???..please show me!! Show me the ONE…just ONE place I ever made such a statement…or even hinted to it.
I have NO problem what-so-ever for anyone to make as much money as they can…What I have a problem with (and millions of other hard working tax payers) is these executives taking MILLIONS of bonuses for running a company into the ground…and then taking my hard earned money to bail them out.
Joseph Stalin was a monster of the first order. These people have done grave harm to our country. They should receive what they deserve. They should receive what any traitor receives upon prosecution.
“Retain them for WHAT?? Orchestrating the bankruptcy?”
Funny you should say that. It’s exactly why the retention bonuses are paid. Circuit City did it, too. The idea is to make sure that the place is run by people who know how the place operates so that it can be managed through bankruptcy properly or managed to avoid bankruptcy in trying times.
Oh, and if Ford hadn’t sold everything they owned a year or two ago, they’d be in the same boat as GM and Chrysler. They aren’t any more efficient than GM or Chrysler, they just built up a pile of cash at the right time.
“Meanwhile I have a question for you: Why do union people call management people who want the most for themselves, greedy but management people don’t call union people who want the most for themselves, greedy?”
Actually, management does call the unionists greedy. They are just more tactful about it and do it behind closed doors. Tact is a quality prized in management. The more successful the manager, the more discrete they are. They have a lot of opinions they won’t share with you because it may work against their goals. Successful union managers are also more diplomatic. It works for them, too.
I keep bonus by proposing 50% wage cut for worker, right?
What about the politicians and average citizens that also contributed to our current state of affairs? We’re talking a lot of people here. What method of capital punishment do suggest? Should we round them all up, or just go hunt them down?
The really sad part of this discussion, is the union workers are fed so much BS, they think they deserve the money and benefits they get for doing repetitious and easy to learn work. Well, the gravy train just pulled out and not too many are on it anymore and there will be a lot less in the future. When the Democratic Government gets done with all they are doing including “cap and trade” there will not be any manufacturing jobs left in the U.S. Most of us will be spending our pensions and what money we have to pay the interest on Obama’s debt and to keep the lights on in the house. What a sad state of affairs this country has come to.