Top Republicans Call for GM to Declare Bankruptcy

[Peejay]

Not sure...at this point Toyota and Honda have pretty much the same pay scale as the American companies. So it would either have no affect or it would affect both groups.

Thanks Ravi - so the competitive advantage, which is essential in a market-based economy, may not rest on the skills of the workforce (prima facie I mean) or the dollars per hour paid to the workers on the factory floor, but it might be with the design of the product, its attraction to consumers?

From what I heard, it cost around 70.00 dollars an hr. for wage, and benefits with the big 3. It costs about 44.00 an hr. for wage, and benefits with Toyota. I hope that helps.

If that is so, and I don't know that it is, it doesn't seem out of line. Years ago, in a non union service industry, my $10 guys cost over $70 an hour to operate. Currently, most hourly rate service industries get in the neighborhood of $100 an hour for a man. Just call the Telco and have them send a guy out.

Of course, one big difference is the cost of a service vehicle that is broken down into that hourly cost.

 

[belboz]

Who asked for this global market anyways....

 

[Sarah G]

Chuck could have stayed on board with GM. No one fired him. Just pretty much said "if GM wants the money, you have to go." Obama today also suggested bankruptcy for GM. If they show promise, they will get more help. If not.....

"resign or get the money"= "either your brains or your signature will be on the contract".

What choices Obama gave him.

I just loved that line in the movie.

That isn't what happened in this case though, Obama is trying to get them to work this out for themselves.. I think it's the right thing to do.

 

[RightofCenter]

Since no one has bothered to answer this yet: WHY is it that GM was singled out, to have their CEO removed, and Wall Street, AIG, and all the banks, were left intact?

 

[Sarah G]

Wagoner was singled out because he wanted the bailout and could not give a clear explanation at the congressional hearings about why. It really started there, he didn't seem to know what he was talking about.

It was his performance there that pissed everyone off. Mitt Romney was upset with the CEOs in general, he said that management had to go.

 

[manu1959]

Since no one has bothered to answer this yet: WHY is it that GM was singled out, to have their CEO removed, and Wall Street, AIG, and all the banks, were left intact?

AIG's ceo was removed the guy (liddy) you say insulted on tv was appointed by the government for a salary of $1 per year.....

wall steet is not a company but a place and has no ceo......

as for the banks....kinda hard to kill the folks that are underwritting all the money you want to have loaned out and print.....some of the banks didn't want the money but were "forced" to take it....

 

[DiveCon]

Wagoner was singled out because he wanted the bailout and could not give a clear explanation at the congressional hearings about why. It really started there, he didn't seem to know what he was talking about.

It was his performance there that pissed everyone off. Mitt Romney was upset with the CEOs in general, he said that management had to go.

the point you are missing is all those others wanted bailouts too


NONE of them should have got em

 

[DiveCon]

Since no one has bothered to answer this yet: WHY is it that GM was singled out, to have their CEO removed, and Wall Street, AIG, and all the banks, were left intact?

AIG's ceo was removed the guy (liddy) you say insulted on tv was appointed by the government for a salary of $1 per year.....

wall steet is not a company but a place and has no ceo......

as for the banks....kinda hard to kill the folks that are underwritting all the money you want to have loaned out and print.....some of the banks didn't want the money but were "forced" to take it....

a lot of those banks DID want the money, but when they found out about all the strings attached to it, they gave the money back

 

[manu1959]

Since no one has bothered to answer this yet: WHY is it that GM was singled out, to have their CEO removed, and Wall Street, AIG, and all the banks, were left intact?

AIG's ceo was removed the guy (liddy) you say insulted on tv was appointed by the government for a salary of $1 per year.....

wall steet is not a company but a place and has no ceo......

as for the banks....kinda hard to kill the folks that are underwritting all the money you want to have loaned out and print.....some of the banks didn't want the money but were "forced" to take it....

a lot of those banks DID want the money, but when they found out about all the strings attached to it, they gave the money back

there was an article posted on this thing somewhere about the meeting with the banks when they were going to be told they would take the bail out.....i think this is why the bad banks just spread it around.....the god banks are just going to sit on it then give it back over time....

thus....no loans to the consumer.....after all can't loan to a bad risk and give the govt their roi....

 

[Ravi]

Then why can't GM turn down the money and keep their CEO? I don't see anyone holding a gun to their heads and demanding they take the money.

 

[dilloduck]

Then why can't GM turn down the money and keep their CEO? I don't see anyone holding a gun to their heads and demanding they take the money.

damn and ouch---I was thinking the same thing.