COngress slamming GM/Chrysler/Ford

[darkendless]

American congress finally showed some guts today. On the news tonight, i saw them slamming the automotive CEO's for asking for money when they came to the address in private jets. They're completely right, why do they need money when their CEO's are taking private jets? If they lose some of the corporate baggage eg. expensive private jets, then their company can afford to pay the workers. A salary of $3.4 million in a company losing money is rediculous. I really do applaud congress for standing up to these guys. America and the world won't climb out of economic hardship by handing out more money to businesses content with paying bonuses to fatcats who don't need or deserve them.

Well thats my rant, what do you think about this issue?

 

[The Voice of Reason]

I agree with your sentiments, Dark, and I'm glad to see that Congress is at least paying lip service to the idea of corporate responsibility.

That said, I have all the faith in the world that once the situation turns around for the automakers, these same congressmen will be ready to accept money in exchange for favorable legislation.

Corruption has a short memory.

 

[doppelganger]

Corruption has a short memory.

And a nice summer home.

 

[Ciscokid]

Don't give them a dime...and get rid of the union.

 

[Mathematician]

Don't give them a dime...and get rid of the union.

No. Don't get rid of the union. The UAW came about voluntarily.

 

[Ciscokid]

No. Don't get rid of the union. The UAW came about voluntarily.

Doesn't matter to me how it was conceived. The auto industry is failing and the UAW is doing things like trying to get people full pay who are laid off....HELLO, I don't get that...you probably don't get that.

It goes way over the line of what is reasonable. I think what it was intended to do was ok, but it's grown into an 800 pound gorilla that is not helping the auto industry.

 

[NoahideHiker]

American congress finally showed some guts today. On the news tonight, i saw them slamming the automotive CEO's for asking for money when they came to the address in private jets. They're completely right, why do they need money when their CEO's are taking private jets? If they lose some of the corporate baggage eg. expensive private jets, then their company can afford to pay the workers. A salary of $3.4 million in a company losing money is rediculous. I really do applaud congress for standing up to these guys. America and the world won't climb out of economic hardship by handing out more money to businesses content with paying bonuses to fatcats who don't need or deserve them.

Well thats my rant, what do you think about this issue?

While many are saying they are too big to let fail I see it as they are too big to save. The best thing for the American automotive industry long term is to allow GM to fail. GM has run a crappy company and we should not have to clean up their mess. It is insane to me that corporations are allowed to assume all prophets but we the tax payers assume all risk.

Don't worry though. They will come back after Jan. 21st and try again and the democrats will give them everything they want. GM will still go under and we will be left with more debt.

 

[Jeremy Mason]

Doesn't matter to me how it was conceived. The auto industry is failing and the UAW is doing things like trying to get people full pay who are laid off....HELLO, I don't get that...you probably don't get that.

It goes way over the line of what is reasonable. I think what it was intended to do was ok, but it's grown into an 800 pound gorilla that is not helping the auto industry.

Instead of setting back compensation for the people who work the hardest, how about restructuring the taxes the American people and companies spend and reduce exuberant CEO salaries and bonuses to no more than 150% of the highest payed employee. If the highest payed employee earns 100,000.00 annually, then the CEO should only receive 150,000.00 annually.

 

[methylatedghosts]

You wanna fix how people are paid within a company? Stop hiding the money. Make it open

Print out and display each and every person's wages, and no longer will you have differences in pay packages between people of equal ability. No longer will a select few be payed upwards of $1m per year for "taking all the risk" in paying people $0.50 per day in some third world country to make shoes that they can't even afford (then claiming to have "improved their situation")

Stop all the secrecy with money, and people will be payed fairly according to their job. No more "inside track"...

 

[3.14]

just make a law that no person should own more then 30 million the remainer should be spend on charity or on improving your company/stafs living conditions

that should give the goverment about 678 miljard atleast to deal with the whole failing economy buisness