GM gives up two corporate jets

Discussion in 'Economy' started by DavidS, Nov 21, 2008.

  1. DavidS
    Offline

    DavidS Anti-Tea Party Member

    Joined:
    Sep 7, 2008
    Messages:
    9,811
    Thanks Received:
    766
    Trophy Points:
    48
    Location:
    New York, NY
    Ratings:
    +767
  2. NOBama
    Offline

    NOBama Senior Member

    Joined:
    Sep 23, 2008
    Messages:
    1,242
    Thanks Received:
    173
    Trophy Points:
    48
    Ratings:
    +173
    More

    Wow, what a concession! Giving up 2 of the 5 corporate jets. Times are hard all 'round. I wonder if they'll put them on eBay? :lol:
     
  3. Angel Heart
    Offline

    Angel Heart Conservative Hippie

    Joined:
    Jul 6, 2007
    Messages:
    2,057
    Thanks Received:
    341
    Trophy Points:
    48
    Location:
    Portland, Oregon
    Ratings:
    +341
    It's a step in the right direction. Now they need to get rid of the rest. Time for them to clean house and tighten the belt.
     
    • Thank You! Thank You! x 1
  4. Zoom-boing
    Offline

    Zoom-boing Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    25,071
    Thanks Received:
    7,261
    Trophy Points:
    260
    Location:
    East Japip
    Ratings:
    +10,130
    A day late and a dollar short if you ask me. The only reason they did this is because they got called on it. No integrity whatsoever.
     
  5. Gem
    Offline

    Gem BANNED

    Joined:
    Aug 11, 2004
    Messages:
    2,080
    Thanks Received:
    782
    Trophy Points:
    0
    Ratings:
    +782
    Does getting rid of the jets...even all of the jets...address why these companies are failing in the first place?

    I'm sorry, maybe I'm missing something, but I just don't understand the hoopla over the corporate jets. So many in the media and the corporate world seem far too willing to get the masses all in a tizzy over the jets so that we can ignore the real problems these companies face.

    If we got rid of the jets...if we started paying the CEOs $40,000 a year...would these companies miraculously recover? No, of course not. Getting rid of the jets, lowering the salaries of the company execs would be tokens, symbols only. I'm tired of trite politically staged apologies...big gestures that look good on tv and mean nothing. As far as I'm concerned they can keep their jets and their salaries...as long as they are willing to do what needs to be done to fix their friggin' companies.

    Unfortunately, I don't see the CEOs being interested in doing that...and I don't see the Congress or the media being interested in making them do that...
     
    • Thank You! Thank You! x 1
  6. Luissa
    Offline

    Luissa Annoying Customer Supporting Member

    Joined:
    Sep 7, 2008
    Messages:
    43,190
    Thanks Received:
    5,593
    Trophy Points:
    1,785
    Location:
    TARDIS
    Ratings:
    +5,664
    I am not a business man but when my company started to not look so well like about fifteen years ago I would have not leased the planes in the first place but if I had they would have been the first thing I would have given up along with my large bonus and I my bloated income. All this also before I laid off my workers.
    I worked for Kmart when they filed for chapt 11 or 13 can't remember which one now, that year the new CEO made $4million along with recieving a bonus which is a bunch of crap when people were loosing their jobs, hours, and benefits!
     
  7. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,618
    Today's megocorporate managment has no integrity.

    They screw the workers, they screw the stockholders, and then they screw with the money.

    Gem I don't think you really realize how well paid these guys are in comparison to their workers.

    Nobody is worth that much money.
     
  8. Andrew2382
    Offline

    Andrew2382 Gold Member

    Joined:
    Oct 1, 2008
    Messages:
    3,994
    Thanks Received:
    530
    Trophy Points:
    153
    Ratings:
    +537
    how do they hand it in mid lease?
     
  9. Gem
    Offline

    Gem BANNED

    Joined:
    Aug 11, 2004
    Messages:
    2,080
    Thanks Received:
    782
    Trophy Points:
    0
    Ratings:
    +782
    editec wrote:
    Then why do they all get paid that much money? Don't misunderstand me...I think that their salaries and compensation and retirement packages are downright obscene...but its a corporations perogative to set the salaries of its employees.

    Look at all the successful corporations in the world...tell me what their CEO's make and what their benefits packages look like. I think we can both agree that most large corporations have ridiculously well-paid execs.

    We can rage about that all we want...but the bottom line is that rarely is that the reason for a corporations failings.

    I just feel like we are harping on this issue of the salaries because its easy to point to one fat-cat and say "Look! HE'S the problem!"

    Well, why isn't the salaries of these people the problem when a corporation is doing well...but suddenly its the problem when the company isn't doing well?

    As far as their salaries in comparison to their workers...well come on now...a lead actress makes more than an extra....a doctor makes more than a nurse assistant...a teacher makes more than a paraprofessional...

    As I said...I get as angry as the next man at the sight of men riding in corporate jets in expensive suits to ask me to give them money. But if they all said they wouldn't accept a dime in salary or benefits....the problem would be nowhere close to solved.

    I just feel that this is swiftly becoming media manufactured "faux-outrage" to stop us from really examining why these businesses are REALLY failing.
     
  10. Richard-H
    Online

    Richard-H Gold Member

    Joined:
    Aug 19, 2008
    Messages:
    2,287
    Thanks Received:
    385
    Trophy Points:
    130
    Ratings:
    +511
    The reason these companies are failing is because of management. Modern day execs do not run their companies for profit, they run them for pilfering.

    These people get their jobs because they join a consortium of people who control the largest block of major stock holdings. They elect each other and then mutually decide one another's salaries. They run a real you scratch my back and I'll scratch your's relationship. Though they have some impetous for protecting the stock price (because they wouldn't be Exec's unless they owned some), in fact they make more money, with less risk, through incredible compensation.

    They do have to maintain some resemblence of credibility.

    These people by no means have any skills at managing these companies. Most of their 'work' is done by assistants.

    Restructuring companies is one trick they do - effectively gutting the company, thereby liquidating it's assets. It makes the immediate profits look good, but ruins the company for the long term. (There a bit of a lag between when a company's productivity drops and when the sales drop).

    Another thing they have done is to put a dead stop to raises and have generally reduced all forms of employee benefits. This is a very large source of the executives compensation.

    These people have no integrity. There are many people who would gladly do these jobs better for a whole lot less money.

    The government would be protecting the stock holders if they would regulate executive compensation.
     

Share This Page