Should your tax dollars bail out GM/Ford??? - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 34 (permalink) Old 06-26-2008, 07:02 PM Thread Starter
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Should your tax dollars bail out GM/Ford???

To go along with the deathwatch series on the truth about cars (www.thetruthaboutcars.com), I wanted to ask if you care to have BILLIONS of your tax dollars thrown at large corporations that have run themselves into the ground?

Is it right or wrong that the brass of these corporations reap huge rewards ($15.4 million annually to Rick Wagoner + benefits) and have no performance based clauses in their bonus structure or pension plans?

If they made their bed, should they sleep in it too?

http://www.thetruthaboutcars.com/wag...nt-page-3/#top


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post #2 of 34 (permalink) Old 06-26-2008, 07:22 PM
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Re: Should your tax dollars bail out GM/Ford???

They dug the hole they can dig themselves out. They have ceos that make millions make them bend over.

Corey, 25yo bodybuilder
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post #3 of 34 (permalink) Old 06-26-2008, 07:29 PM
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Re: Should your tax dollars bail out GM/Ford???

I wouldn't say GM or Ford dug themselves into the ground. Americans have loved trucks and have always loved trucks, until crude oil doubled in price. If these two companies go under no one will save them, and many people will have no retirement to rely on. Ford and GM have never done a good job selling small econo cars, but they have always known how to build a nice truck or suv that everyone loves. I can't say yay or nay for our tax dollars bailing them out, but i would agree that it would suck to know your retirement is now worth absolute shit. I would actually be willing to save the company if they really made more economical cars.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #4 of 34 (permalink) Old 06-26-2008, 07:34 PM Thread Starter
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Re: Should your tax dollars bail out GM/Ford???

Would you be more apologetic to the company if the GOV bailed them out if it included a raft of sanctions?


-NO guaranteed pension, must recover from Chapter 11 AND be profitable for 5 years after recovery

-Income capped at $1M including benefits (gotta pay the rent on the mansion right?)

-UAW union is kicked in the sack and all labor deals fall under gov supervision. (ie: no $70 hour bolt inspectors)

-Rank and file (who just lost their pension) are covered by gov sponsored pension (heavily funded by the corrupt UAW) to prevent a glutt of retirment age workers hitting the streets begging for change


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post #5 of 34 (permalink) Old 06-26-2008, 07:35 PM
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Re: Should your tax dollars bail out GM/Ford???

Dont get me wrong Im a truck guy at heart. LOVE them and hate cars. But when those companies are going under and the ceos, execs are still making MILLIONS a year thats something to be said. And GM is a HUGE fucking corporation so they can fuck themselves. If your running a company and its going under and your still taking home 50million a year, I think YOU should be held responsible and start firing some of those assholes.

Corey, 25yo bodybuilder
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post #6 of 34 (permalink) Old 06-26-2008, 07:41 PM
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Re: Should your tax dollars bail out GM/Ford???

What you have to understand is a CEO is a CEO for a reason. They did at one time do well at the company or at a previous company, which is why they get paid the money that they do. I can't say they don't deserve it, but if I was a CEO and they wanted to cut my pay I would most likely tell them to eat sh*t and die. You work hard to become a CEO and you should be paid accordingly even if that means multi-million dollars, while you're employees make pennies. That's just how the world works. The rich get richer and the poor get poorer.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #7 of 34 (permalink) Old 06-26-2008, 07:47 PM Thread Starter
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Re: Should your tax dollars bail out GM/Ford???

"Rabid" Rick Wagoner was promoted from within via the Peter Principal. His personal dominance has lead the worlds most prolific automobile company from a domestic marketshare of >40% down to <20% in less than 20 years... (I vote for a HUGE bonus!)

http://en.wikipedia.org/wiki/Peter_principle

For a vastly biast wiki article on Mr. Wagoner, visit his personal spin site writeup.

http://en.wikipedia.org/wiki/Rick_Wagoner


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post #8 of 34 (permalink) Old 06-26-2008, 07:54 PM
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Re: Should your tax dollars bail out GM/Ford???

[quote author=weezerfan84 link=topic=115887.msg2422612#msg2422612 date=1214523662]
What you have to understand is a CEO is a CEO for a reason. They did at one time do well at the company or at a previous company, which is why they get paid the money that they do. I can't say they don't deserve it, but if I was a CEO and they wanted to cut my pay I would most likely tell them to eat sh*t and die. You work hard to become a CEO and you should be paid accordingly even if that means multi-million dollars, while you're employees make pennies. That's just how the world works. The rich get richer and the poor get poorer.
[/quote]

Ya but I would also expect the ceo to help out and get things rolling. Granted shit hit the fan FAST and no one was prepared. But then again if I was a ceo with 400mill in the bank, honestly I wouldnt give a shit about anyone else IM RICH!

Corey, 25yo bodybuilder
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"Little GTO" she is ill right now, pos
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post #9 of 34 (permalink) Old 06-26-2008, 08:08 PM
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Re: Should your tax dollars bail out GM/Ford???

To be honest when a company is that bad; cutting the CEO's salary is not going to save the company. What happens is marketing, CFO, or some other officer in the company is going to be held on the fence. CEO's are generally overthrown by the board, which only happens when the company is in such bad shape that the CEO doesn't even care. He or she is making money regardless.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #10 of 34 (permalink) Old 06-26-2008, 08:12 PM
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Re: Should your tax dollars bail out GM/Ford???

So long gm and ford! Ford sucked after they killed the SVT cobra anyway. I dont like any of there current line up.

Corey, 25yo bodybuilder
06 mazda 3 2.3l sedan CRM
"Little GTO" she is ill right now, pos
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