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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
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If a company fails, why does the CEO get a golden parachute? It was his ineptness that lead them to this situation, why should it be rewarded? Rarely in Asian countries do CEOs have such a huge golden parachute. Maybe some unemployment wages, since finding a CEO job is not easy.
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Replying to: chikoo (Nov 21, 2008 12:01 pm) Because the CEO was clever to have the provision written in his employment contract. It doesn't have to be liked, but it does have to be honored because it is legal. 
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Replying to: chikoo (Nov 21, 2008 11:58 am) Regards, OW |
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Replying to: euphonium (Nov 21, 2008 12:44 pm) I am not arguing that. I am raising this question if this is fair and as a lesson learned, we, the shareholders, should not approve of a golden parachute that puts us to shame, in the future. |
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Replying to: pf_flyer (Nov 21, 2008 10:42 am) "Nothing will get through Congress to be signed by President Obama if there aren't some serious changes on each side, and telling the American people to 'wait until 2010' isn't the answer. Obama isn't going to start his term by infuriating the moderates who really put him into office. Offer some sacrifices and get something, or take your chances in bankruptcy court." |
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So lets pump stupid money into something that's not working. Meanwhile back at the ranch out West, Aptera struggles to get production going, Tesla is going now but not like anything on the scale of Detroit. Do they get any money? Of course not. Clean sheet design of electric cars and it's eerily quiet from the federal government..... got to keep that oil strong. Detroit clinks their tin cup on the sidewalk and the money is expected. Oh, but don't worry, R&D is getting the Volt going with GM. The only problem is the car is a complete joke.
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GM management is responsible for the shape the company is in. It's nice to be able to lay part of the blame on the unions, but it's management that OK'd the union deals.They've made bad decisions and given us bad products & bad quality for years; now they want us to bail them out? They want us to believe that the same inbred, short sighted management that was dumb enough to get get the company into this fix is smart enough to get it out of it. LOL. There might be some hope for Ford. They hired a man from outside the industry that appears to be trying to get the company back on track with some new competitive products that, according to Consumers Report Etc., rival the Asian mfrs. in quality. As for Chrysler, nobody will even miss them if they go under. |
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GM has the Chevy Camaro around the corner! This dud should appeal to the nostalgia crowd and the under 10 group that watched the movie Transformers. My grandson sure loves Bumble Bee,  Once the novelty wears off what else do they have to offer? Bloated, blundering SUV's, hybrid wannabees that get 2 mpg more than their gas only counterparts? I saw a Challenger this weekend and no one cared. The Mustang at least is living up to its late 60's early 70's glory days and beginning to look like it. I see Ford as the only survivor of this mess. Chrysler for all intents and purposes is dead and GM is gasping for air.
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Replying to: rogeliov (Nov 21, 2008 4:36 pm) My 5 year old loves bumble bee to death, but when he saw it in the Auto show, he did not even take a second look at it.
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Replying to: chikoo (Nov 21, 2008 5:22 pm) |
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