I'm wondering if the leadership is aiming for GM to be more competitive with regard to EVs or not? Sometimes it seems that they don't know what they are doing.
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Competitive in EVs? Probably not if they are going to drag their heals until their competitors are in the game. I didn't see Hyundai's new EVs on the Amazon box but I do see them on the road.
If he was selling stolen classified documents to unfriendly countries, that's a big deal.
I guess we'll see the evidence at the trial.
GM leadership wants to project an image of superiority like it's still the 70's for the company when it didn't have any competition. They only really care about gas guzzlers that they can sell for high costs.
"Now, do you actually think any company would pay someone (yet alone 3 - and there are many more at GM) compensation of millions upon millions of dollars if they didn't know what they are doing????"
Uh, that happens all the time. Congress seems rather wealthy and the US is in steep decline. What makes you think the board is not calling the shots.
Also what makes you think gm is on the upswing.
Please list what those 3 have created and don't say jobs.
Did they create a new type of engine. Do they even have the ability/knowledge to build a car from scratch. If not, why are they getting paid so much.
"People are saying they're funneling payments to Trump for documents, like Xi and Putin."
Hmm, we should start with congress.
The members should list their skillset and their net worth and see if they matchup.
Stay simple.
For example if a heart surgeon said they were worth 5 million, that is fine.
If a congress person with a mere Bachelor's degree in government studies is worth 5 million, something does not smell right.
People are saying they're funneling payments to Trump for documents, like Xi and Putin.
Ivanka and Jared made a $2 billion deal with the Saudis also without having any skills or knowledge to contribute. What were the Saudis paying for?
And why did they buy the money sink property 666 Fifth Avenue?
If there are people who make high salaries but are useless and lazy, why haven't they been fired?
They're either management, or being protected by management for some reason, because there are people being fired for performance at this company, but apparently just not them.
More proof that your job security has more to do whether your boss likes you than how good a job you do or how hard you work.
Great point!
There are people on my own team that make well over $100k that are not only useless, but lazy and barely even dial it in. Many of which, I haven't seen since before March 2020 despite the 3 day mandate. For most Americans, over 100K is a very nice salary. Think about it from their perspective - people who don't even show up and do very, very little are earning that with great benefits and bonuses? Does their pay equal value? Absolutely NOT! And I'm 100% confident that anyone who lurks in these threads that actually works at GM knows that at least 20% of their team fits this description.
Whoever wrote the 'pay = value' diatribe is way out of touch. Perhaps it was one of those 20% that barely dial it in? I hope to see these people GONE. It's almost astonishing how 10% of the groups do most of the work. The management knows this is happening. Then when layoffs occur, managers don't have a say as to who is let go. Some of those worker-bees have their heads on the block, sparing the do-littles. As each year closes, fewer and fewer of those very knowledgeable, hard working people are left. I believe that is why there are more and more cases of worker-bees doing at least the work of 4 people. It's demoralizing and maybe it's time they push back.
@1ako+1nNUMvMP you asked:
Now, do you actually think any company would pay someone (yet alone 3 - and there are many more at GM) compensation of millions upon millions of dollars if they didn't know what they are doing????
YES! Just look at Hunter Biden when he worked for Burisma. Hunter knew nothing about the company, let alone the industry, and they paid him millions and made him an excutive too.
@1uim+1nNUMvMP - I am the author of the previous message in this thread.
Congrats - and best of luck to you!
Last day at GM today. So very happy to leave this mismanaged behemoth for a smaller company where folks will remember my name, my work and where I don't have to worry about the end of every quarter. Sure there will be problems, but not like this place where you are just a number to HR, located somewhere. The wind blows a little here and they just start shoving folks out the door (mainly older) not taking anyone's work history into account.
Salaries are still very competitive out there if you have experience and lots of jobs, but the market is slowing a bit motor city.
Don't be fooled into believing any human capital shortages out there, especially if you are mobile and can move. One just needs to update their resume with the latest keywords. Still a shortage for talent, especially at the suppliers and they also pay better.
OP - you write that "Sometimes it seems that they don't know what they are doing"
Let me explain as simply as I can how silly that statement is: Top 3 executives of the company are (all values from CY 2022 and are total compensation) - Ms. Barra, CEO (paid $28.9M); Mr. Reuss, president (paid $14.4M); Mr. Jacobson, CFO (paid $10.2M). By the way the "M's" are millions of dollars.
Now, just to put that in perspective - those are dollar amounts that the VAST (like 95% plus) number of citizens around the ENTIRE WORLD "dream" about winning in the lottery (no matter what their salary is).
Now, do you actually think any company would pay someone (yet alone 3 - and there are many more at GM) compensation of millions upon millions of dollars if they didn't know what they are doing????
Think about it - GM even has a CEO and a president. I certainly am confused - and I work here. CEO's are typically in charge of most companies, but president sounds pretty powerful also. The company is willing to pay for essentially two TOP leaders of the same company. I mean really - who runs GM - the "president" or the "CEO"? Probably neither - they probably both work from home, but share the responsibilities. But it doesn't matter - because GM must "value" their knowledge and expertise so much that they pay them millions and millions of dollars. So, again, I ask - do you actually, truly, think that GM would compensate these individuals millions upon millions of dollars if they didn't know what they are doing????
OF COURSE THEY KNOW WHAT THEY ARE DOING TO GET PAID THAT MUCH MONEY!
Think about it in terms that you and I can probably relate to - none of those 3 individuals would pay a custodian $250K/year if the custodian didn't know how to clean a building. So of course these leaders are getting paid what they are worth - and therefore, THEY KNOW WHAT THEY ARE DOING!
And here is further proof - if they didn't know what they are doing - all/most GM employees would never purchase a GM vehicle again. Because the employees are on the inside (they have the inside scoop that millions and millions of regular customers do not have) - the employees must know the facts of this discussion. BUT - WHEN I ACTUALLY SEE EMPLOYEES driving to work (2 or 3 days per week maximum) - they "mostly" are all driving GM vehicles. So, even GM employees support the fact that GM executives and management are worth their salary and therefore "KNOW WHAT THEY ARE DOING"
Now - do you understand the fallacy of your thinking and how wrong it is?????
In all seriousness, sorry to be harsh or burst your bubble on what you may believe in - I just didn't want you to continue to be confused on this matter any longer. Now be a good employee - buy a GM vehicle - and tell everyone else who is not an employee to support your company/buy your products (because GM IS an American company!)
@1atp+1nNUMvMP
True but there are other regional market loyalties in the US, for other automakers. It's not a bad thing.
GM owns the old Midwesterner market. They're very loyal.
"Imagine a car company that dominated the world car volume to bankruptcy."
Seven reasons GM went bankrupt relative to 2009 (none of them are "operating margin") [1]:
- Not filing for bankruptcy sooner
- Driving incentives into the ground
- Ki-ling the EV1 electric program
- Selling control of GMAC
- Ignoring Jerry York (read the article to find out why)
- Mishandling Fiat
- Overreacting to the truck bo-m
GM earned $2.5 billion last quarter, and that was after OPERATING MARGIN and a Bolt EV recall. If a company is losing money, you can look at things like operating margin. GM is making billions each quarter and that goes back for years and years. GM is not the loser business case you make it out to be, and they sold more cars than any other company in the United States in 2022. [2] Perhaps you are bitter about something? Get busy down-voting!
Sources (You all should think about using them!):
[1] https://abcnews.go.com/Business/story?id=7721675&page=1
[2] https://www.businessinsider.com/gm-sold-80000-more-cars-toyota-2022-after-losing-no1-2022-10?op=1
Management is lost !
Imagine a car company that dominated the world car volume to bankruptcy.
Operating margin is an executive management problem, all the quality issues and outdated processes, engineering tools and procedures is a management problem.
The workers are doing what is demanded and what they are told to do.
Average Annual Operating Margin, General Motors
1960s: 8.7%
1970s: 5.5%
1980s: 3.0%
1990s: 1.3%*
2000s: -0.5%
- Excludes one-time $20 billion accounting charge for retiree health benefits in 1992.
Sometimes?