4 ms·

You're saying the govt. should directly pay the thousands of affected people, at various income levels, directly? They can sit and watch tv and still make their

by jeromec 17y ago

You're saying the govt. should directly pay the thousands of affected people, at various income levels, directly? They can sit and watch tv and still make their salary? That won't fly with many fellow citizens. Remember, the "stupid executives" did not get the money, GM did (and taxpayers got shares in GM in exchange). The stupid executives are already wealthy, and would probably end up at some other company owned by a friend or whatever. You would not have punished them, but you would have punished GM's shareholders, the wider stock market, and likely the wider economy which depends on jobs and consumer spending to function.

zaidf 17y ago
They can sit and watch tv and still make their salary? I would rather they do this than give GM money to pay employees for a job that is doomed to disappear soon as gov money runs out. The gov is doing no favor to these folks by bailing them out via GM because until they are with GM, they think their job is secure. I'd rather these guys get a check for their GM salary each month from the government for doing nothing. Every check will be a reminder that before it stops coming(basically before the money alotted to GM runs out), the dudes better learn something that can pay. The stupid executives are already wealthy Very far from truth. There are many many stories of execs having a hard time finding a typical job, let alone another exec position. My Dad moved to Michigan couple years ago and the house market was full of mansion-like homes at fraction of a cost due to an exec who could no longer afford it. you would have punished GM's shareholders How would this punish shareholders? Last I knew, the stock market did not work under the assumption that the gov will bail out your company. In fact, the gov bailing out GM is punishing the hundreds of millions of non-GM stockholders whose companies are not being bailed out. GM stockholders made a bad investment if it goes down under. It won't be the first time or the last time that happens to a public company. jobs and consumer spending to function. Totally with you on this. I just don't think you need to keep GM alive to address this. In fact, I believe keeping GM alive is just digging a deeper hole for the near future.
- jeromec 17y ago
  Who said GM is going to disappear? Part of the govt. assistance was a restructuring of the company to be a viable business. Regarding executive compensation, GM CEO Rich Wagoner (who was ousted by the way) earned 1.5M in 2007, and will receive over 20M in pension by leaving GM. You don't call that wealthy? Regarding the GM shareholders I agree with you; they took the risk of investment, but the rest of my statement stands, which is that the collapse would have punished many people not responsible for the mismanagement of GM.

by jeromec 17y ago

zaidf 17y ago

They can sit and watch tv and still make their salary? I would rather they do this than give GM money to pay employees for a job that is doomed to disappear soon as gov money runs out. The gov is doing no favor to these folks by bailing them out via GM because until they are with GM, they think their job is secure. I'd rather these guys get a check for their GM salary each month from the government for doing nothing. Every check will be a reminder that before it stops coming(basically before the money alotted to GM runs out), the dudes better learn something that can pay. The stupid executives are already wealthy Very far from truth. There are many many stories of execs having a hard time finding a typical job, let alone another exec position. My Dad moved to Michigan couple years ago and the house market was full of mansion-like homes at fraction of a cost due to an exec who could no longer afford it. you would have punished GM's shareholders How would this punish shareholders? Last I knew, the stock market did not work under the assumption that the gov will bail out your company. In fact, the gov bailing out GM is punishing the hundreds of millions of non-GM stockholders whose companies are not being bailed out. GM stockholders made a bad investment if it goes down under. It won't be the first time or the last time that happens to a public company. jobs and consumer spending to function. Totally with you on this. I just don't think you need to keep GM alive to address this. In fact, I believe keeping GM alive is just digging a deeper hole for the near future.

jeromec 17y ago
Who said GM is going to disappear? Part of the govt. assistance was a restructuring of the company to be a viable business. Regarding executive compensation, GM CEO Rich Wagoner (who was ousted by the way) earned 1.5M in 2007, and will receive over 20M in pension by leaving GM. You don't call that wealthy? Regarding the GM shareholders I agree with you; they took the risk of investment, but the rest of my statement stands, which is that the collapse would have punished many people not responsible for the mismanagement of GM.