Obama suggests some executives should lose their jobs

[Bindare_Dundat]

President-elect demands restructuring as key senator says GM's Wagoner should resign.

NEW YORK (CNNMoney.com) -- President-elect Barack Obama announced support Sunday for a short-term government bailout of the nation's carmakers that is tied to industry restructuring as he accused auto executives of a persistent "head-in-the sand approach" to long-festering problems.

In an appearance on NBC's "Meet the Press" and later at a news conference, Obama at one point suggested some executives should lose their jobs.

A leading Congressional Democrat, Sen. Christopher Dodd of Connecticut, was more blunt. Rick Wagoner, the chief executive of General Motors Corp., (GM, Fortune 500) "has to move on," said Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee, appearing on CBS' "Face the Nation."

Congressional Democrats and the Bush White House had reached an agreement in principle to provide stopgap support for the U.S. auto industry, congressional and industry sources said late Friday.

The deal would keep the most troubled companies out of bankruptcy court at least through the end of March. While the money is less than the automakers were asking for in testimony before Congress this week, the package is designed to keep them operating so that the new Congress and the Obama administration will have at least

[Soul Crusher]

Of course they should lose their jobs to get any taxpayer money.

However, so does the UAW.  Unless the company sheds this union, we are just delaying the inevitable.

My proposal to turn these companies around would be as follows:

1.  Have a 100,000 warranty for bumper to bumper other than tires.  Any problem gets fixed no questions asked.

2.  Give people a $10,000 tax credit to purchase a GM or Ford

3.  Get rid of the Unions

4.  Make employees and retirees contribute to health benefits

5.  Move the companies south where the taxes are less.

6.  End the terrible and non-selling brands.

 

[Bindare_Dundat]

Of course they should lose their jobs to get any taxpayer money.

However, so does the UAW.  Unless the company sheds this union, we are just delaying the inevitable.

My proposal to turn these companies around would be as follows:

1.  Have a 100,000 warranty for bumper to bumper other than tires.  Any problem gets fixed no questions asked.

2.  Give people a $10,000 tax credit to purchase a GM or Ford

3.  Get rid of the Unions

4.  Make employees and retirees contribute to health benefits

5.  Move the companies south where the taxes are less.

6.  End the terrible and non-selling brands.

 

Does Obama get to hand pick the next CEO?

[Soul Crusher]

Does Obama get to hand pick the next CEO?

Of course not, but execs should not be rewarded for failure either.

The Board of directors should pick a new CEO.

[shootfighter1]

Yep, the problem is at least 3-fold:

Executive compensation/benefits/retirement
The UAW
Streamlining product to compete.

3333, I like your idea of tax credits to buy GM or Ford vehicles.  Now, that makes a lot of sense.  So does increasing fuel efficiency and a 100,000 mile warranty.  These are necessary for their products to compete.

[Decker]

I have an idea....or several.


Let's get rid of the Unions - a drag on productivity

Let's repeal all environmental regulations - a drag on productivity

Let's repeal all safety regulations -"" ""

Let's eliminate the 40 hour work week and replace it with 'live-in' workers at the plants.  (no unions of course).

Let's eliminate all corporate taxation.

Let's eliminate all income taxation on those earning over $100,000 b/c, after all, those are the real producers in our country.

Let's have health and retirement plans funded by the worker only.

Let's get rid of those pesky child labor laws too....If they aren't carrying their own weight, somebody else is and that's communist.

Let's get rid of any and all laws re consumer safety....let 'Buyer Beware' once again rule the land.  I mean these fucking lawyers are ruining this country and have you ever seen the jury awards in car cases?

________________________ ___________
There.  That's a good start to eliminating the impediments to competitive big automotive business.

You can also kiss off the middle class.  We'll be just another 3rd world country of mega rich and ultra poor corporate slaves....but we'll compete!

[Soul Crusher]

So whats your answer?

Toyota, Honda, and BMW are not looking for bailout? 

Why is that?

Three answers:

1.  Better products. 
2.  Better leadership.
3.  No Unions!

Unions are a relic of the past and hampering companies' ability to compete internationally.

[Decker]

So whats your answer?

Toyota, Honda, and BMW are not looking for bailout? 

Why is that?

Three answers:

1.  Better products. 
2.  Better leadership.
3.  No Unions!

Unions are a relic of the past and hampering companies' ability to compete internationally.

Foreign auto workers pay about the same, benefits too, as the Big 3.  Foreign Auto executives scarcely make a million a year.  The Big 3 earn exponentially more.  Foreign Auto executives know how to build fuel efficient cars.  The Big 3 are still cranking out SUVs!

Looks to me like the bulk of the problem is with the bourgeoisie and not the proletariat.

Unions are what made our middle class and sustained it.

Just look at how you want to sacrifice your way of life so that the profits from being 'competitive' can fill the coffers of your rich corporate masters while you are given more work, less benefits, less pay, and less rights.

Do you see that that is the goal of the monied elites?

Do you see that free or damn-near free labor is the prize?

Is it a coincidence that extinction of the US's middle class correlates with the death of unions?

Some 7% of private busniesses are unionized and even that pittance is too much and deadly to our competitive edge?  I smell a rat.



Do you see that you are doing their bidding willingly?

[Soul Crusher]

Here is the point - the Unions and corrupt execs produce an overpriced garbage product that no one wants.  They are overpriced because of BOTH the insane labor and legacy costs as well as the criminal executive compensation.  I blame both of these parties because the Unions stay on the line so long as they get what they want, and in turn dont say a word about the exec pay because of it.

I have two cars right now.

1.  2002 Ford Explorer V8 (Price was 28k new).  The transmission went at 36,200 miles and it cost me a fortune to fix.  They refused to honor the warranty to 36,000 miles and were utterly rude about my being upset at a transmission going at 36,000 miles.  I went on the internet and found that many people had the same problem, Ford knew about it, and never issued a recall due to the cost.  at 50,000 miles, the shocks, struts, engine coils, and axle need work.  It costs a bundle.  The only reason I wont trade it in is because no one will give me anything for it.  It has 50k miles on it now. 

I am afraid to go anywhere of any distance because I never know what is going to break down next.


2.  2007 BMW 328i ($33,000 sticker).  Covered bumper to bumper for 4 years.  So far no problems at all.  They call me for service and give free car washes, oil changes, maintenence etc.

While it costs a little more, the BMW is the best car I have ever had.  It runs perfect. 

3.  I had a Ford Mustang that also was in the shop all the time and things were always going that cost $$$$$ to fix.  The service center at Ford is always more bussy than the sales department.  Wonder why?


My next car will either be a Honda Ridgline or a BMW, if I can afford it.

I am done with Ford forever unless they provide 100,000 mile warranty.

They earned my disgust and distrust.  I will not buy a thing from Ford ever again.               

[tu_holmes]

They earned my disgust and distrust.  I will not buy a thing from Ford ever again.               

My 5.0 had the tranny die after 116K other than that, never had a problem with it in 11 years.

In reality, the difference in any manufacturer's product longevity is really < 1%... BMW, Volvo, and VW all make lemons.

[Bindare_Dundat]

I have an idea....or several.


Let's get rid of the Unions - a drag on productivity

Let's repeal all environmental regulations - a drag on productivity

Let's repeal all safety regulations -"" ""

Let's eliminate the 40 hour work week and replace it with 'live-in' workers at the plants.  (no unions of course).

Let's eliminate all corporate taxation.

Let's eliminate all income taxation on those earning over $100,000 b/c, after all, those are the real producers in our country.

Let's have health and retirement plans funded by the worker only.

Let's get rid of those pesky child labor laws too....If they aren't carrying their own weight, somebody else is and that's communist.

Let's get rid of any and all laws re consumer safety....let 'Buyer Beware' once again rule the land.  I mean these fucking lawyers are ruining this country and have you ever seen the jury awards in car cases?

________________________ ___________
There.  That's a good start to eliminating the impediments to competitive big automotive business.

You can also kiss off the middle class.  We'll be just another 3rd world country of mega rich and ultra poor corporate slaves....but we'll compete!

Follow that and you're well on your way to being the most effective Walmart Supplier.

[Bindare_Dundat]

I am done with Ford forever unless they provide 100,000 mile warranty.

They earned my disgust and distrust.  I will not buy a thing from Ford ever again.               

Im done with Ford too, more because of the lack of service than the actual problem.

[Soul Crusher]

Im done with Ford too, more because of the lack of service than the actual problem.

Thats wham talking about.  The service center at the dealerships are horrible.