US Treasury is setting up funding for a GM chapter 11 filing

Reply Subscribe

Thread Tools

Search this Thread

Feb 25, 2009 | 12:28 PM

#31

anasazi

Thread Starter

Banned

Joined: Jul 2001

Posts: 3,604

From: Milton, FL

Quote:

Originally Posted by bkpliskin

the bigger problem is with the CEO's and such...
The CEO of GM makes something like $26 million/yr???
WTF!?!?!

Why would you be getting paid that much to run a company into the ground. The higher ups should be forced to front a large portion of their own money to get the company out of the hole. They put it there.

the problem isn't so much the CEO but rather the board of directors

Feb 25, 2009 | 05:28 PM

#32

SSbaby

Registered User

Joined: Mar 2005

Posts: 3,123

From: Melbourne, Australia

Quote:

Originally Posted by anasazi

the problem isn't so much the CEO but rather the board of directors

I know age isn't 'normally' a factor in most things. However, look at the age demographic of some of these board members. Most of them are retired CEOs of other companies.

http://investing.businessweek.com/re....asp?symbol=GM

There is no 'youthful' presence there. Is that a good thing or a bad thing? Rick Wagoner is nearly the youngest and he's been at that company for 30 years.

Personally, I'd say this isn't a good picture.

Mar 2, 2009 | 01:59 AM

#33

SCNGENNFTHGEN

Registered User

Joined: Jul 2002

Posts: 1,579

From: The Land of Pleasant Living

Quote:

Originally Posted by z284ever

$100 billion seems like nothing compared to the trillions the bo administration is poised to spend on pork bs.

Soon we'll run out of paper to print greenbacks and there will be no more money on the planet left to borrow. So my thinking is wtf, if we are going to **** away every last cent this nation can beg or borrow --- why not come up with $100b in funny money for the auto industry? I could think of worse ways to spend that money, (and so will congress).

qfmft!!