Ceo Rick Wagoner drives GM into the dumps and leaves with millions in his pocket! What the %$#@ is wrong with this picture. He drove stocks down 70% when he was in charge and they reward him for screwing up a worldwide company. I'd have hung him by his toes. What is the US coming to?
Now now, we cannot believe in the death penalty, just make them wish that was their out. He should be force to live with Rush Limbaugh, Hillary Clinton, Janet Reno, and Linda Tripp. That oughtta be worth more than the death penalty, perhaps even hell is better than those four.
Hell is a 24 hour party compared to them. Rush the republicans scapegoat. Just pisses me off when millionaires get millions for doing a crappy job! Look at aig. Let gm go bankrupt! Let aig die. We will get by.
I find it more troubling that the Prez fired a CEO. The CEO has failed yes, but this intervention into private industry is something that we fought against about 200+ years ago. Golden parachutes aside, lets not jump on the lynch the CEO's gang, many of these folks were " regulated " by the guv into these situations.....many were not. Are we going to lynch the Countrywide CEO's? The Fannie and Freddie's? Oops, too late, they work for the current administration these days. When the gov invades and villianizes private industry, we have a problem. Even MI Governor Granholm ( who is more suited to say " would you like to supersize that " or " want cheese on that burger" has spoken out in defence of the GM CEO. GM: Government Motors rant over
Hey, I live in a dying GM town. Frankly I couldn't give a rat's bum if they croak. They and their workers milked consumers with lousy products for years. Right now I have an '02 Pontiac with less than 50K miles on it that is practically falling apart. It is a real piece of $#!+ and one I would not have bought but for the fact that I got it from a relative. I maintain my cars, but if they are not well built to begin with, there is only so far you can go. My replacement for that car is coming soon, either a Toyota or another Honda.
Arizona, with all do respects, the government was not just handing out the dosh, it was GM and Chrysler that bent over and pandered themselves for the dosh. They socialized themselves, government doesn't belong in business, nor does business belong in government. Asking the government for anything is akin to just bending over and expecting to get shafted.
My 2000 chevy k1500 is the biggest pile of s%$t going. And they wonder why more and more people are buying foreign
Jack I can see your point but who else but the gov. can step in and do something? He should have been fired a long time ago! There is just way way too much greed running rampant in corporate america and thats a good a reason as any for the mess we are in!
The last vehicle I bought is a Honda, I will point out that my Honda is 75% American made parts, assembled in Ohio - by American workers cranking out quality stuff. The Pontiac PoS, it is mostly Mexican made parts, and thrown together in some GM plant somewhere in North America by workers that met their quota that day and shut down after four hours of work. So as a result my little blue PoS is a PoS! Yes, I mentioned I live in a dying GM town. I know people that were making $100K at Delphi(then a part of GM) and complaining about having to put their four hours in that day because they had not yet made quota. They had cush contracts through their Union. All it set them up for was the fall, now they are the ones abandoning their homes and leaving. Delphi let everybody go when they went Chapter 11, then hired a lot of them back at about 1/4 to 1/3 of their old salary.
Four hours, holy cow thats a full day how do they cope with all that hard labor. I thought they only worked 3 with at least 1 hr overtime every day.
Now all those pokes are either in Texas or Californication, or working 8 hours a day at $14 an hour. Some manager types in greasy burger joints make more money - but arguably they work harder and work in a very gross place.
In more ways than one - they don't have to bend over and assume the position when the pedismiling government puke comes along.
Saw a 2009 Chevy Aveo on the freeway this morning just outside of Detroit with signs all over it that it was a piece of junk. Apparently some buyer got stuck with with a lemon and took to advertising it.
Has the guv EVER?....... Why yes, I am very happy with what they have done with the social security money, how can you beat that? My guess? This board is full of " tangible asset " type folks who will survive this under any circumstances, BUT, be careful, as those assets might just be " governmentized soon" scary isn't it. For the 1st time in 5 years, I am now upside down on a mortgage, my rental condo is owed about 80K and worth about 60 now. I lost in equity in my home this last year. For ever I felt bulletproof. It has hit home. You guys see the drop in home prices? Phoenix is at the top of the list. 30%. I my case, thats $90,000. NINETEY THOUSAND DOLLARS !!!!! ( who cares if I cannot spel) What the capitol F is going on?
At least you live in AZ now and not in your old one state depression. Half of Detroit is now abandon buildings, large swaths of Flint, Saginaw, etc are abandoned too. So goes the state down with GM and Chrysler.
While I rather not get too personal with financial issues, the wife and I have taken a hard hit. I do admit to a bit of arrogance during this crisis, but wow, it does affect everybodty doesn't it. Personally, I really did think I had it all taken care of, but a 1/3 drop hits home. That was my houseboat money when I retire. It is gone now. My rental condo ( a luxury I admit ) is now just barely paying for itself, it WAS a profit thingy when I bought it, and our home, dont even go there. The pain is trickeling all around. America has to suck it up and get on the ball.
I was a bit concerned leaving the military during this economic time. Fortunately, it seems to have worked out ok, though. I am in the medical field, was willing and able to relocate, and was also wanting another government job, though, so all of those probably helped. I did have the choice to make of more money/less desirable location or less money/where I wanted to live. I couldn't get them both together which probably would have happened in different times. I chose the 'where I wanted to live', BTW. And it is not to say my invested funds have not taken a hit but I was no Rockefeller there anyway and have tried to take precautions from that kind of hit as much as possible over the very long run (with pension(s), medical care, etc). There will be no house boats in my retirement but I should not need to shop in the pet food aisle either unless things go really bad in the next 20 or so years or Congress/The President takes it all away at some point.
