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Automotive News & Views United Automobile Workers of America (UAW)
16738 messages, Last post on Dec 03, 2009 at 10:07 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: dallasdude1 (Dec 29, 2008 5:50 pm) Ford's number one guy has a similar story with Home Depot. Last year Robert Nardelli walked away from a mediocre tenure at Home Depot (nyse: HD - news - people ) with $210 million. It was too late for the compensation scolds to complain; the board's real sin was committed years before in luring Nardelli to the company from General Electric (nyse: GE - news - people ). His contract said he'd get 90% of his pay regardless of performance, plus an enormous retirement package when he left. You wonder what kind of a deal he made with Ford. I know I rag on the UAW a lot. And they deserve to be chastised. What these CEOs and corporate boards have been doing over the last 20+ years is criminal. And guess what our Congress is no better on either side of the aisle. Look at Frank Raines and his $100 million scammed from now bankrupt Fannie Mae. And it was his watch when it headed into the toilet. Congress knew and did nothing. These boards can read a contract or hire a cheap attorney to do it for them. No excuse is good enough for these travesties.
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Replying to: dallasdude1 (Dec 29, 2008 5:50 pm) Sprint gave him $40 million, including a $1.5 million salary through 2009, $5 million in bonuses, stock options and restricted shares worth $23 million and an $84,000-a-month pension for life. Any ONE of those things would leave me set for life and he got ALL of them! If I had screwed up so badly on my job, I'd be lucky if I were still living indoors! |
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Replying to: gagrice (Dec 29, 2008 6:25 pm) Nardelli went to Chrysler from Home Depot. Mulally left Boeing for Ford. Topps should come out with trading cards for all these guys. Could use them on the dart boards if nothing else.
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Replying to: steve_ (Dec 29, 2008 6:40 pm)
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Replying to: lemko (Dec 29, 2008 6:44 pm)
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Replying to: fezo (Dec 29, 2008 7:08 pm) 
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Replying to: dino001 (Dec 29, 2008 2:10 pm) You failed to mention, child labor. Is that legal also? Then are crimes against the environment legal? Whats the statute of limitation on environmental crimes in America? I'm all for perfect competition. Unfortunately that just something for the text books. At the moment you have every industry represented in Washington. Each seeking advantage and special treatment. Why does Japan have a lobby group in Washington? Then those people who supposedly care about our health and well being, are anything but. Its no secret that the AMA, large pharmaceutical giants, managed care, and many more are more interested in money and not as concern with health care in America. If health care is the problem. Fix it. Is that not a reasonable expectation, to level this playing field, which is often cited as an out of control concern by every major corporation, partnership, and small business. So, its as if we have to fight the competition with one hand tied behind our back to boot. WWII was won by the "Rosie the riveter" going into the once off limits factory. How ever will we be able to build a war machine, God forbid, if all of our manufacturing base is shipped overseas? If these large corporations couldn't see beyond the sub prime mess, they are thinking in the short term. Blinded by greed they are anything but patriotic and don't look past the fiscal year. What was wrong with their thinking process? There is a reasonable argument that govt has a role in this globalization craze. Enough with the large multi nationals calling the shots. If China, with their one fifth of the future consumers, tells a corporation to jump. They don't just reply how high, but rather was that high enough? Its no secret that rocket secrets were given/sold to China. Secrets which now allow them launch satellites in addition to missiles into our country. Was that GM/Hughes/Loral? Its absurd to think that we are all going to become happy capitalist and go on our way. Bottom-line is that we are trading with the communist and they have the stick as multi nationals follow that carrot. This all reminds me of when Mexico supported NAFTA. Once they saw the factories moving to China, they did a one eighty. The comparative advantage is fine and dandy, but only when its done in a slow methodical planned way. Can we think of any auto maker who saw and or did something about this global economic meltdown coming?
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Replying to: steve_ (Dec 29, 2008 7:10 pm) |
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Replying to: steve_ (Dec 29, 2008 6:40 pm) All part of the same D3. You know if one goes they all go is the story circulating. What happened to the guy from Toyota? I cannot keep track of all these over paid suits in the auto industry.
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Replying to: dallasdude1 (Dec 29, 2008 7:14 pm) Health care cost has been rising higher faster than just about any part of our society. That was a campaign issue with Bill Clinton. May have gotten him elected. He had a Democrat controlled Congress and appointed Hillary to get universal Health Care done. Nothing happened then and nothing will happen now. No government in the world can afford the kind of health care people in the USA are wanting. We have as good as what Canada offers if not better. I know women that have had children on our nickel that get just as good a care as those with fully paid health coverage. Blinded by greed they are anything but patriotic and don't look past the fiscal year. What was wrong with their thinking process? Being blinded by greed is not just for the people on the top. It goes to the bottom of the human food chain. When one homeless guy steals another guys corner, it is based on greed. Some are just better equipped to parlay their persona into those lucrative positions. Then some of us are just fortunate to be at the right place at the right time. You have to be willing to go where your skills are needed. I just happened to have my resume on file with RCA White Alice in Alaska. When they called I said sure. I quit a good job with Pacific Telephone and took a leap of faith. It paid off. If the people in the UAW are set in Michigan or Ohio or Indiana and will not leave. Well they may be losing a chance at financial security that is not offered there. Iluv has given a great example of what is needed when a good job is lost. The smart UAW people are already looking elsewhere for employment. 26 weeks of unemployment runs out fast. With bankruptcy and NO JOBS Bank. The gravy train will leave the station with no seats for UAW members.
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