So when this company fails again is the government going to provide bridge loans again ? Remember all three executives flew on private jets to Washington folks. Perhaps we should have let the two OEMs sink ten years ago , maybe our country should have felt the pain from these b--tard's because any way you slice it we have already felt it , with our tax dollars and now here again we still continue to pay ten years later. GM shows no accountability or corporate stewardship to not only the country as a whole but to local community , they try to cover up their sins buy doing small time volunteer work in places like to Pontiac , big deal! Those folks don't need charity they need jobs! Think of the countless communitys they have destroyed because the job went to another country , it's ok to take care of the people of other nations but not ours first? Do you see any new plants being built in Flint? The answer in No! Now a new Blazer in Mexico? What does that union that you hold so near and dear to your heart actually accomplish for you ? Nothing ! It's like the holy sacred cow. Bottom line is GM and corporate wins again , these politicians can do all the grandstanding and political Posturing they like but we all know they speak from both sides of their mouths.
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FCA is useless company as well... lot of dead weight and good old boys club... it will crash as well when the economy takes a recession... its due don’t you know that
Vmz - I have a suprise for you , the companies like Honda and Toyota , they are teamsters my man , do some research its true.
Atx- you are someone I would enjoy having a coffee with and chatting , when I started at GM I was 25 in 2003 , all of these facts we have discussed on this thread I have always known about. I worked with older employees at that time that told me some stories wooo , I miss them. I created this thread because I wanted to read what people would write , I had the pleasure of working with some amazing people that started with GM some in the late 60s early 70s , of course now all retired , man they we're great , I'm considered gen X graduated high school in 94 , now I'm 40. My generation got on well with those older colleagues because basically they were are parents age and we grew up properly , good music , free spirited attitudes and learned how to see threw the b---s--- of corporate spin doctoring , I grew up at GM and it feels like a family separation to me. I hope the younger generation will take the time to research the business of automotive and the politicking that goes along with it , someone some day hopefully will say enough is enough and make a change , Marry Barra is a very clever manipulator , highly narsassistic in nature and has alot of you young and old warped into her culture of beliefs all so she can collect her payday. On a clear day you can see GM , it's a very clear day.
"Answers to the shareholders?"
Do you own any shares of stock?
Has a company ever taken your opinion into account?
Unless you own 30% or more of the shares, they don't care about what you think.
The millions of shareholders with just a few shares of stock are totally ignored. They have no influence over policy, and they don't get to put up people to get elected to the Board of Directors.
Usually those people are hand-selected friends of the CEO, who in turn serves on her friends' Board of Directors.
Bottom line is that a corporation answers to shareholders who care about return on investment and not about communities or employees. I stayed through the bankruptcy when I could have left and moved but stayed and put in a lot of hard work only to be laid off this year.
I agree with the OP that people like Henry Ford helped to build the middle class. All these equity companies and Wall Street greed have destroyed this country. There are some good books such as Glass House by Brian Alexander that depicts this decline with the glass industry. It has led to a breakdown of communities, underemployment, and d--g abuse. It’s very much the same with the auto industry.
Vmz - You need to detox from all the b---s--- you have been fed , it's ok you have our support. GM isn't a happy house hold brand name anymore , Ford , FCA , Toyota , Honda all have my support . Europe and "China/GM" motors Corp doesn't. Wipe the sh-- out of your eyes it's not all the uaw to blame , everyone in our business already knows they are as corrupt as Marry Barra.
Alot of it is due to high legacy costs also, two million retired folks out there cost GM alot of money , plus the uaw has taken concessions along the way , it's not solely on the back of the Union , alot of it has to die with over compensation for managers on up to the CEO , don't forget the people that remained after layoffs received bonuses right along with the uaws profit sharing.
It's all true , every bit of it. All of the points here in this thread are valid.
If that were true we wouldn't have over 40 factories with foreign nameplates in America. Toyota, Volkswagen, BMW, Honda, and even Subaru have no problems building and even expanding their presence on American soil, even giving us American jobs. If you want to lay blame, it lies directly at the feet of the UAW, which makes American automakers uncompetitive even on our home turf .
Mij- I like you , regulation absolutely spot on. This country should be a matropolis at this point . The American people should demand regulations. Maybe we needed a depression to wake folks up to the painful realities many suffered generations ago. I feel that is what it will take to lite the fire for change , it certainly did back then. Can you imagine what would happen if today's yuppie/ millennial lost the sacred Starbucks!
P.S. Henry Ford's vision was simple , to put man to work so that they can build their homes , their community's around them , provide for family. There is such a thing as common decency and humility and I feel that this country has lost that along time ago , I also feel there is a scence of urgency in some folks to rekindle that shirt in America again , remember Henry Ford was already wealthy he choose to spread it out. When you look at that American flag remember what makes it so great and why so many people want to come here , America has always been diverse from day one , all this so called new diversity business is just alot of people handing us the business Period , We are way smarter than the machine gives us credit for. We already are the most diverse nation on this planet so who are they trying to kid. The average person just wants the basics in life and make it to retirement so all of this stuff internal from the CEO is just stuff , utter nonsense and deviation from the core business and that is Automotive kids. Fire Marry Immediately sure , it would be a great pleasure for many but the truth is you will see yet another corporate huckster right behind her.
This is why corporations need to be regulated.
Corporations are naturally sociopaths and care about nothing but making money for their CEOs, and as a side effect, for the company itself.
They'll do anything to make a buck, no matter how harmful it is to society.
That's why the government needs strong regulation of companies to curb their worst impulses.