GM CEO Wagoner to step down at White House request
- Thread starter Poltergeist
- Start date
This is from www.detnews.com
Wagoner, who had agreed to work for $1 a year, is barred from getting a golden parachute or a big severance package under the terms of the government's Troubled Asset Recovery Program.
Wagoner, who had agreed to work for $1 a year, is barred from getting a golden parachute or a big severance package under the terms of the government's Troubled Asset Recovery Program.
Bankruptcy would have been the right answer. Then they can cut the fat, redo contracts, redo union contracts, etc. and come out ahead. Now our socialist government has control of everything.
They are doing anything and everything to publicly bash ceo's with local media. Anything from the ceo of gm to the banker ceo's still flying in private airports on their jets-spending hundreds of thousands of dollars in fuel costs.
I think to some extent this is a good idea. It seems like many of the CEO's out there think they are royalty or something. Reining them back down to earth I think would help a lot of companies.
I agree 
There is a discrepancy though....if you go to school for 8-10 years and become a radiologist; for example, making upwards of 5-700k annually, should your salary be cut way back? Should people on welfare be drug tested?
There is a discrepancy though....if you go to school for 8-10 years and become a radiologist; for example, making upwards of 5-700k annually, should your salary be cut way back? Should people on welfare be drug tested?
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I agree
There is a discrepancy though....if you go to school for 8-10 years and become a radiologist; for example, making upwards of 5-700k annually, should your salary be cut way back? Should people on welfare be drug tested?
No of course not, that would not be fair. Is the radiologist a CEO that mismanages his/her company? Probably not. This was a long time coming to the auto industry, they chose to keep making big vehicles that consumed lots of resources instead of doing what their competition did and create more economical cars. Personally Wagoner deserves to be fired, he decided not to make changes and he made very poor financial decisions.
I agree
There is a discrepancy though....if you go to school for 8-10 years and become a radiologist; for example, making upwards of 5-700k annually, should your salary be cut way back? Should people on welfare be drug tested?
No, but if you look at most of the salaries that CEO's make its ridiculous. And most of them can't seem to even run a company. Look at the auto industry as a whole, Enron!, and many others. For the millions the CEO's make the companies seem loose 10 times that amount if not more. A good CEO that keep a company profitable should be paid accordingly. But it seems like in the 10~15 years most companies are scared that if they don't have a well known CEO they won't survive. It doesn't seem to matter if that CEO has destroyed the last 10 companies he was at they will still pay them stupid money.
The CEO's answer to he investors. Investors want to get rich and don't care about the company. That's one of the biggest problems.
There saying on Fox News tonight that he will be receiving a $20 million retirement.
Those comapnies can keep those little tiny cars. I will never own one. It's too bad everyone doesn't think like some of us and buy Escalade's because we want a chance to live in a accident. Oh well.
I wounder how much responsability can be pushed onto him? What does he control in the company? Who tell's him what to do is basically what i'm getting at. He's just a figure placed in a position I would assume.
It will not be a lump sum payment, It will be paid by the month like any other person that retires. He has the age and years to retire and to get his monthly pay, Its ashame mine would only be around 2,700 a month.
Truly I think he is just someone that media can point to when something is wrong or right. I agree too that small cars suck @$$ but in this case the majority outweighs the minority. People don't want trucks, they want economy.
and GM now offers more vehicles touting 30MPG+ than any other manufacturer, foreign or domestic. They offer more hybrid vehicles than any other manufacturer, foreign or domestic.
They are just, perhaps, too late to the game. They need to do some major fat trimming in "operating/production" costs and get their cars back to profitable. They sell enough cars, have the cars/vehicles people are asking for. I simply believe their level of wasted dollars spent has got to be waaaay too high if they aren't making money. I don't know what they are wasting it on (maybe it's a bunch of little things each nibbling away creating a huge accumulation of money spent with zero fruit to show for it) but their accountants need to put a strangle hold on the spend-happy departments and choke 'em back to reality.
I just feel that surely they can be making money even with current market conditions with the current vehicle offerings they have and at their respective prices if the fat were trimmed back heavily.
C-ya
They are just, perhaps, too late to the game. They need to do some major fat trimming in "operating/production" costs and get their cars back to profitable. They sell enough cars, have the cars/vehicles people are asking for. I simply believe their level of wasted dollars spent has got to be waaaay too high if they aren't making money. I don't know what they are wasting it on (maybe it's a bunch of little things each nibbling away creating a huge accumulation of money spent with zero fruit to show for it) but their accountants need to put a strangle hold on the spend-happy departments and choke 'em back to reality.
I just feel that surely they can be making money even with current market conditions with the current vehicle offerings they have and at their respective prices if the fat were trimmed back heavily.
C-ya
