GM Bailout? Feh!

[Liar]

It's but a drop in the bucket, but is bad PR and makes for good senate sound bites ad nauseum. They could at least have chartered.

It's not a pragmatic issue, but an ethical one. "Does it work?" is quite often a separate question from "is it right?"

On the other hand I think it would work to show a little symbiolic restraint sometimes. If the high execs of a big company in crisis said "all right, no more bonuses, spa trips, $6m salaries, $40m parachutes, private jets and untold bonuses until we float this sinking ship", would send a huge signal to everyone. Unions would have much less to get revved up about, politicians would have much less to point and sneer at, and the workers would feel much less like they were shafted by the management, but instead by the market.

 

[rgraham666]

One of my favorite books is Up the Organization: How to Stop the Corporation from Stifling People and Strangling Profits.

It was written by the guy who ran Avis back when it was "#2 but tried harder."

One of the chapters, and remember this book was written in the late 60s, was entitled "Are You Really Worth $250,000 A Year?" His answer was "No, you're not." He then went on to make if clear that he, as CEO, wasn't nearly as important as the people on the firing line where the real work got done.

I wish this book was required reading. It's funny, insightful, wise and our economy wouldn't be nearly as much trouble as it is.

 

[JAMESBJOHNSON]

LIAR

If you put the problem in a different context the error of a bailout becomes obvious. Like...if an army commander wasted soldiers lives and resources. he'd be sacked immediately.

 

[JAMESBJOHNSON]

ROB

There truly are people worth every dime they get, because they possess extraordinary and uncommon skills that are highly esteemed and needed. Like pediatric heart surgeons. Maybe one person in 10 MILLION can do what they do. And pediatric heart surgery isnt a job you reserve for your brother-in-law or Obama's daughter, and lock everyone else out.

 

[cantdog]

GM just gave 2 jets back....lol

Sold 'em on e-bay, no doubt.