Phoenix Gold Phorum

Just read last night that the head of GM will be stepping down. I guess he was "asked" to by the government as part of a restructuring process for the GM and Chrysler to ensure their survival. don't feel bad for him one bit, everyone hates him but its his fault, plus, he's really to rich to care anyway. I don't think he'll be feelin' the pinch that alot of us are these days.

Yeah, and the CFO is taking over. Wagoner was the previous CFO.

So I expect more of the same bullshit from a corporate dinosaur.

And like the dinosaurs, GM will probably become extinct too if it can't find a way to evolve.

It should have been extinct already. Damn bailouts!

For fucks sake

http://abcnews.go.com/Blotter/story?id=7208201&page=1

Rick Wagoner will leave his post as CEO of bailed-out General Motors with a $20 million retirement package, the company's financial filings show. Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News.

$20 million, just as a fucking retirement package? That money could have an entire family living in excessive wealth, from the minute they are born, to the minute they die. Yet ONE asshole gets it, despite doing nothing to avoid the obvious eventual failure of the company, while he was at the helm.

I don't get it. Why are US CEOs paid so exorbitantly? I'll bet you can find hundreds of guys, who would work on a hundreth of his pay scale, and do a better job than him. Someone with passion for cars, who has the pulse of the consumer, instead of another overpaid accountant. It's fucking ridiculous.

stipud wrote:For fucks sake

http://abcnews.go.com/Blotter/story?id=7208201&page=1

Rick Wagoner will leave his post as CEO of bailed-out General Motors with a $20 million retirement package, the company's financial filings show. Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News.

$20 million, just as a fucking retirement package? That money could have an entire family living in excessive wealth, from the minute they are born, to the minute they die. Yet ONE asshole gets it, despite doing nothing to avoid the obvious eventual failure of the company, while he was at the helm.

I don't get it. Why are US CEOs paid so exorbitantly? I'll bet you can find hundreds of guys, who would work on a hundreth of his pay scale, and do a better job than him. Someone with passion for cars, who has the pulse of the consumer, instead of another overpaid accountant. It's fucking ridiculous.

And you wonder why they need fucking bailout money? Man these people piss me off.

In europe people are already on the street´s and demonstrating because of things like that! In France they took a manager as a HOSTAGE! Here in america..blablablablablabla....! What´s up with this country???

Sorry but you´re bombing another country just because somebody was thinking they have mass destruction weapons and here u got evidence all over and you do nothing but talking!!!

Because these CEOs probably have more say in running America than the people do. They own so much of the government and the infrastructure, they have a lot more leverage than they do in Europe.

http://www.autonews.com/apps/pbcs.dll/a ... 00276/1078

In a bid to boost flagging auto sales, the federal government will pay for any warranty repairs on a General Motors or Chrysler vehicle if either company can't because of financial problems or a bankruptcy filing, President Barack Obama said today."Let me say this as plainly as I can.

If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always," Obama said in a speech today. "Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty."

Hmm... not sure where I stand on this. On one hand it's an excellent way to protect the consumer, and increase sales in American automobiles. On the other hand, it sounds like just another thing these corporate sleazebags could exploit. Also, it would seem weird to me, if my tax dollars were spent on repairing other people's cars. Oh well, better than directly padding a CEOs wallet.

stipud wrote:http://www.autonews.com/apps/pbcs.dll/a ... 00276/1078

In a bid to boost flagging auto sales, the federal government will pay for any warranty repairs on a General Motors or Chrysler vehicle if either company can't because of financial problems or a bankruptcy filing, President Barack Obama said today."Let me say this as plainly as I can.

If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always," Obama said in a speech today. "Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty."

Hmm... not sure where I stand on this. On one hand it's an excellent way to protect the consumer, and increase sales in American automobiles. On the other hand, it sounds like just another thing these corporate sleazebags could exploit. Also, it would seem weird to me, if my tax dollars were spent on repairing other people's cars. Oh well, better than directly padding a CEOs wallet.

SOCIALISM!!!!!!!!!!!!!!!!!

fuzzysnuggleduck wrote:SOCIALISM!!!!!!!!!!!!!!!!!

Not really, since they are paying GM to do the warranty repairs, not the consumer.

stipud wrote:

fuzzysnuggleduck wrote:SOCIALISM!!!!!!!!!!!!!!!!!

Not really, since they are paying GM to do the warranty repairs, not the consumer.

Psht, that's what all the socialist say.