For GM, New Deal and Big Loss
Firm Reaches Agreement With Union
Article Link
Wagoner also said yesterday GM is cutting $4 billion in costs by shuttering factories, slashing 25,000 manufacturing jobs, freezing bonuses, and cutting health benefits for nonunion workers and retirees. The GM of the future will be a smaller, leaner company designed to better compete with its more nimble foreign rivals.
Staggered by slow sales of its SUVs, GM said it is stepping up development of more fuel-efficient technology and the rollout of hybrid-powered cars. The automaker has long relied on the popularity -- and profitability -- of its trucks and SUVs, but the run-up in gas prices has turned the strategy into a liability. Wagoner told GM employees yesterday that the company had "too much reliance" on trucks and SUVs.
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Ok, first, NO SHIT! Everyone who cared about energy or the environment has been telling you NOT to rely on such large vehicles...but noooooooo...you Harvard, Penn, Standford educated MBAs just KNEW better. Sound familiar?
So, who gets screwed for executive incompetence? Yeah, the little guy doing real work. "Yeah, we screwed the pooch, so now you get fucked. Now is not the time to dwell on our mistakes, we must move forward." Wow, there seems to be a theme here.
Gee, I wonder how much the executives will be taking from their compensation packages to help with the crunch? Methinks, none. Oh, that's right, they're getting paid for this great strategy for cleaning up the mess from the last executive staff that fucked it up in the first place...and got paid well to do so.
Oh, and guess who is going to be picking up the tab for the health care for all of those losing benefits, or worse, their jobs? That's right, the taxpayer. But, don't worry, that executive who ISN'T taking any kind of significant pay cut and can probably afford to buy the clinic they would need to go to, won't be paying their share thanks to BushCo's tax cuts.
Just HOW much pain is the electorate willing to endure?
Me, mine & the bottom line.
Firm Reaches Agreement With Union
Article Link
Wagoner also said yesterday GM is cutting $4 billion in costs by shuttering factories, slashing 25,000 manufacturing jobs, freezing bonuses, and cutting health benefits for nonunion workers and retirees. The GM of the future will be a smaller, leaner company designed to better compete with its more nimble foreign rivals.
Staggered by slow sales of its SUVs, GM said it is stepping up development of more fuel-efficient technology and the rollout of hybrid-powered cars. The automaker has long relied on the popularity -- and profitability -- of its trucks and SUVs, but the run-up in gas prices has turned the strategy into a liability. Wagoner told GM employees yesterday that the company had "too much reliance" on trucks and SUVs.
-----
Ok, first, NO SHIT! Everyone who cared about energy or the environment has been telling you NOT to rely on such large vehicles...but noooooooo...you Harvard, Penn, Standford educated MBAs just KNEW better. Sound familiar?
So, who gets screwed for executive incompetence? Yeah, the little guy doing real work. "Yeah, we screwed the pooch, so now you get fucked. Now is not the time to dwell on our mistakes, we must move forward." Wow, there seems to be a theme here.
Gee, I wonder how much the executives will be taking from their compensation packages to help with the crunch? Methinks, none. Oh, that's right, they're getting paid for this great strategy for cleaning up the mess from the last executive staff that fucked it up in the first place...and got paid well to do so.
Oh, and guess who is going to be picking up the tab for the health care for all of those losing benefits, or worse, their jobs? That's right, the taxpayer. But, don't worry, that executive who ISN'T taking any kind of significant pay cut and can probably afford to buy the clinic they would need to go to, won't be paying their share thanks to BushCo's tax cuts.
Just HOW much pain is the electorate willing to endure?
Me, mine & the bottom line.
posted by Mike at 1:24 PM
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