Posted on 11/21/2005 5:34:36 AM PST by 12B
Breaking on Bloomberg and Reuters. GM will cut 30,000 jobs in massive restructuring. More....
So let me get this straight. If an executive screws up big-time enough, so that he must lay off thousands, just to preserver the company, that has nothing to do with how well the executives have performed their jobs?
Yes, I can see industries being supplanted, new technologies, etc.--but even so, a case can be made that it is the job of the executive suite to see the new technologies or industries and change the company to thrive in the new conditions.
Cheers!
Even 12 hours later, that's still clever as hell.
LOL!!
As I pointed out to my wife when I first saw the Aztec, "That car looks like it was designed by vandals."
Cheers!
Tell me how nafta, cafta, illegals made americans buy toyotas instead of GM. Maybe nafta, cafta allowed gm to outsource their cars (buick rendezvous is mexican made), but that does not explain why gm market share went from 60% to 25% You can't blame this on illegals either.
I own my own business and I never got overtime and often worked over 40 hrs. Sometimes I worked for nothing when things went wrong, sometimes I worked for less than nothing.
There are a lot of bad companies and after a while, bad companies go bankrupt.
There are a lot of bad govt. programs and a lot of bad govt. workers. Those programs live on forever and the govt. workers almost never get fired.
I'll take the bad companies any day because sooner or later, they will get their just rewards.
Oh, it very well might, but not necessarily. And even good executives might make mistakes or miss trends (remember, these trends can elude virtually everyone in the industry). But the point of executive pay is really to hold on to executives who are still valuable to the company, and it should be based on what is necessary to keep him there as long as the value he provides is greater than the cost.
I'm as much opposed to overcompensated and underperforming executives as anyone--it's money taken from shareholders, but that doesn't necessarily mean that if a company performs poorly, the executives are all worth less, or even to blame. It can certainly be an indicator of executive performance (which is why stock options are frequently used in compensation), but there is not necessarily a direct relationship, and that is something for the board (which hopefully represents shareholders' interests) to decide. It's certainly not, as one poster described it, "sinful."
you dont suppose trial lawyers and assinine lawsuits had anything to do with health care costs, do you?
It can be. That poster's original claim was that companies will fire 100 workers to hold onto one executive who is incompetent.
I've seen that happen. Well maybe not a 100:1 ratio, but I've certainly seen companies cut muscle in order to save fat. I've seen companies run as if they were old boys' clubs, where the guys up top work in luxury and the guys at the bottom get the shaft.
Such companies eventually go under. Another poster described GM as a company that everyone knows is going under, with people at every level trying to loot as much possible before she does. I can buy that. I've seen it myself.
Sadly, it will be very, very close. I hope you make it.
Good Words, FRiend. :) Sadly, this is Super-Capitalism at work.
The remaining 80-90% or so just did what they were told and what the union rules stipulated, no more no less.
Not one of these examples was done by a company or corporation. Individuals do these things. Individuals sin. Corporations are not capable of taking actions. As a result, they do not have the capacity to be evil.
"You, my friend, need the learning and maybe if you read the Bible instead of Ayn Rand, you'd get it right (but probably not because you are obviously one of those people who could never humble themselves enough to do that and it isn't something you can show off on the coffee table so you look smart."
And you are an example of the reason I no longer attend church. I got sick and tired of the judgemental. At one time in my life I was a pre-seminary student at a prominant Christian College.
Your house must be emaculate with all the time you find to judge others.
Don't forget the "blinder" sunglasses. Who ever came up that design with the wide, temple bars, should be forced to drive on US1, at rush hour each day. For an added punishment, on the first of each month, forced to drive around the parking lots, at BJ's.
Apparently, you have never worked in a UAW (United Against Workers) factory, either. We tried that years ago when I was a steward. It's impossible to change anything in the UAW, because they're too corrupt & powerful. I had a friend whose uncle was the head of the local (Italian, by the way). He asked his Father to say something to him about the way things were being ran, figuring if anyone could do anything, it'd be him. His Father did say something over a round of golf one day. The Uncle's response: "Better tell my nephew to stop bein'an agitator. I'd hate to see him get hurt, ya know?" The UAW ended when Walter Ruether's plane (mysteriously) blew up over the ocean. Draw your own conclusions there.
Worked in factories from 1981 to 1993 snd from 1994 to present. Initiative and innovation are rewarded and people advance in position and commensurate salary. The Unions tried to organize and failed. A unionized factory 25 miles away eventually went under with the aid of their union partners. Was sold, became a private, non-union establishment and is now one of the most successful business interests is the area......
Yeah, and I see them, too. The ripple effect should be great for retailers at Christmas this year.
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