1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

Didn't Take Long for GM to Hose You Again

Discussion in 'Off Topic Threads' started by GW22, Feb 21, 2010.

Thread Status:
Not open for further replies.
  1. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Remember way back last year when your government used about $60 Billion of your tax dollars, without asking, in order to take over and prop-up incompetent General Motors Corporation and drag us one giant step closer to Socialism?

    Well, as their way of thanking you, the U.S. treasury just approved slipping a $1.7 Million salary to their CEO, Ed Whittaker Jr. That's not so bad I guess. I mean, after all, the guy arrived with a lot of related experience in the telecommunications field, and he's been working very hard in the auto industry for more than eight long months. Plus we all know GM is back on top in their industry. So certainly he is entitled to a modest $1.7 Million salary. Oh yeah, they also slipped him a sweet little deal which entitles him to 7.3 Million in stock later on -- after the average knucklehead citizen has quit paying attention. Not bad for 2/3 of a year's service, huh?

    Isn't it interesting how the government seems so outraged at "corporate greed and excess" until it's one of their own hand-picked puppets who's doing the raping and pillaging?

    Will we ever learn? Doubtful.

    -Gary
     
  2. Chugiakshooter

    Chugiakshooter Member

    Joined:
    Jun 14, 2009
    Messages:
    506
    You asked for it you got it TOYOTA!!!!!!
     
  3. TommyTEREX

    TommyTEREX Member

    Joined:
    Jan 29, 1998
    Messages:
    495
    Let`s see, GM, Bad ABS sensors, cobolt steering, v8 piston slap, not to mention years of bad cams, brake calipers,seats, rusty bodies, the list goes on.

    Now toyota`s in the barrel, and everyone wants to bury them. At least toyota didn`t say, "Buy our junk, it`s american".

    JMO. Tom R.
     
  4. CalvinMD

    CalvinMD Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    9,854
    Location:
    Northeastern MD @ the top o the Bay
    No...they said "Buy our Junk..its got to be better 'cuz it Japanese".....yea right?...
     
  5. TommyTEREX

    TommyTEREX Member

    Joined:
    Jan 29, 1998
    Messages:
    495
    Drag is set, and a hit on the first cast.

    Tom R.
     
  6. Setterman

    Setterman Well-Known Member

    Joined:
    Feb 12, 2007
    Messages:
    11,164
    I thought the compensation package was 9 million? What the hell is the matter with this administration? The Dems jump all over the banks and insurance companies about high wage and bonus packages, and then pay their Gubmit Motors dude a 9 million dollar salary package? "Thank you" taxpayers.

    And they wonder why they're approval rating sucks.
     
  7. Big Heap

    Big Heap TS Member

    Joined:
    Jan 29, 1998
    Messages:
    1,748
    The Congressional Oversight Panel, tasked with monitoring TARP expenditures, is holding hearings on the auto bailout. In the blue corner: the post-Rattner head of the twenty-four (now) member Presidential Task Force on Automobiles (PTFOA) Ron Bloom. Big Ron II is expected to hew even more closely to its previous proclivity for a passive/aggressive approach to GM’s non-management management. “Given the emergence of the new GM and the new Chrysler, the involvement of the Auto Task Force with the companies will now change,” Bloom told the panel [via Market Watch]. Once again, Ron proclaims that only “core governance issues including the selection of a company’s board of directors and major corporate events or transactions” will be subject to PTFOA meddling going forward. (After all, they’ve got Advertising Czar Bob Lutz to handle the little things like “crapping on advertising.”) But even though the White House is on hand to show how easy putting your best platitude forward can be, the UAW won’t be joining the testimonial fun.


    The Congressional Oversight Panel isn’t happy about the non-development. “The UAW came before Congress and pleaded for billions of taxpayer assistance,” GOP member Rep. Jeb Hensarling tells the Detroit News. “Their ownership stakes in Chrysler and GM look suspicious at best and like sweetheart deals at worst. It’s outrageous they would benefit from the taxpayers’ money and then refuse to testify about it.”

    Outrageous, yes. But not entirely unexpected. Hensarling said it himself . . . “Without [the UAW], the panel cannot provide meaningful oversight for $80 billion of taxpayer support rewarded to Chrysler and GM.”
     
  8. b12

    b12 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    3,051
    I read this stuff and see the mood the people are in but all I can say is you all are a bunch of stupid asses for not paying attention when you elected Barry Obama. He is right. If you don't make over 250 million he won't tax you. Heck no he is just going to take it. HA HA HA.

    One more thing and pay close attention on this one. Their is word around that one of the Canadates for Presi. on the Rep. ticket is that stupid goard Mitch Daniels. You have got to be kidding me. This is the man that Sold our toll road to the foriegners and switched the timezones around. If their ever was a Republican Obama this bone head is it. I will garantee you he is only for big business. I seen him have his picture take in August of 08 at a large medical device Co. showing how he is getting the Company 100 more jobs with the million dollar grants he was giving and with in 90 days laidoff 300 workers. Problem is the Dem. ringer they throwed in to run against him was not electiable.
     
  9. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    The raping of the American taxpayer continues...

    I just saw that, in addition to throwing $9 Million at Whittaker after 8 months of work, GM is also still paying $3000/hour to the guy he replaced. Hey, I've got an idea -- go buy a new GM and support stupidity and Socialism!

    If the government had simply let GM go bankrupt like they should have, all their ridiculous contracts could have been thrown in the trash.

    So, seriously, if you buy a new GM at this point, aren't you a big part of the problem because you are rewarding failure and incompetence? Or do you disagree, and think that the government takeover and the continued honoring of horrible contracts on the taxpayer's back is a good thing? If the latter, and GM eventually comes off welfare as a viable company, haven't you just strengthened the push toward American Socialism? I mean, this isn't anything like the loan to save Chrysler a few decades ago (which eventually failed anyway, by the way) -- this is a wholesale government takeover. What will you be willing to tolerate next? Have you asked yourself, as an American citizen, exactly how much you ARE willing to tolerate? Do you thing George Washington or Teddy Roosevelt would have tolerated the same?

    -Gary
     
  10. Anchorsteam

    Anchorsteam TS Member

    Joined:
    Feb 23, 2010
    Messages:
    872
    ...wonder if Whittaker has any connection to the Obama Administration...
     
  11. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    "...Any connection to the Obama Administration?" They hand picked him. He had zero experience in the auto industry. Then they greased him with $9-Million before he even moved to Michigan. What do you think?

    -Gary
     
  12. TOOLMAKER 251

    TOOLMAKER 251 Active Member

    Joined:
    Jan 29, 1998
    Messages:
    3,398
    GW22, you better do some research on Teddy Roosevelt, he was our 1st. socialist, communist whatever you would like to call it president. Don't confuse him with great men in our history like George Washington.
     
  13. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Toolmaker, you need to do some research so you can distinguish between Teddy Roosevelt and Franklin Roosevelt.

    Back when it still meant something, Teddy Roosevelt was a Republican (although as independent as was possible while being one). He not only fought in a war, but personally led the charge. He also sent his sons to war for us. He was born into wealth but tossed his silver spoon aside and voluntarily chose the "strenuous life." He worked on behalf of real Americans and kept the robber barons from making slaves of everyone else. TR once took a bullet during an assassination attempt, then got up and finished his speech as though it were a mosquito bite. Teddy Roosevelt is the very definition of a great American.

    -Gary

    PS: TR also WROTE more books than most Americans these days have READ.
     
  14. esoxhunter

    esoxhunter Well-Known Member

    Joined:
    Mar 15, 2006
    Messages:
    2,064
    Location:
    Wisconsin
    I have to agree with Toolmaker. If you look into Teddy Roosevelt"s past; you will see he had a very liberal agenda. He would be considered a RINO today. (Similar to John McCain, who also was a respected war hero). JMHO. Ed
     
  15. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    When you look at Teddy Roosevelt you need to consider the context of his era. "Republicans" and "Democrats" were nothing at all like they are now. Even if they were, Roosevelt was independent and completely for the American people -- irrespective of political parties or ideology. He even started his own party -- the Bull Moose Party.

    Modern liberals sometimes try to link themselves to TR's glorious legacy, or discredit him, by pointing out that he fought corporate America. But, again, you need to evaluate this claim in the context of the late 1800s and early 1900s. Back then, the wealthy robber barons literally ran this country. Literally -- not like now, with undue influence and bribery - but literally. Rockefeller's wealth and power back then would make Bill Gates' influence seem laughable. TR realized that working class Americans were being enslaved by these these robber barons and he helped stop it. That's what his anti-trust and progressive taxation ideas were about. It has nothing to do with the modern concepts of "Liberalism" or "Socialism."

    -Gary
     
  16. TOOLMAKER 251

    TOOLMAKER 251 Active Member

    Joined:
    Jan 29, 1998
    Messages:
    3,398
    GW22, I did my research long ago, He started the progressive movement (bull moose party) Your definition of progressive movement might not be the same as mine. Progressive= socialism= communism,
     
  17. Brian in Oregon

    Brian in Oregon Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    25,251
    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    Can examples of Teddy Roosevelt's "liberalism" please be posted?
     
  18. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Not by anyone with more than a superficial understanding of history and language.

    -Gary
     
  19. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    No ks5shooter, we blamed the government for not making General Motors management and the UAW suffer the natural consequences of their irresponsible actions over the last four decades.

    -Gary
     
  20. b12

    b12 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    3,051
    Teddy Roosevelt was elected with big powerfull wealthy giants. Teddy new he needed the money to take him in to the Presidency and it worked. But he did stay with the powerful. This was his very intentions. One of the famous lines about Teddy was from one of the powerful rich in one of those back room meetings and it was like this. We bought the son-of-a-bitch to put him in the white house but the son-of-a-bitch didn't stay bought.
     
Thread Status:
Not open for further replies.
Search tags for this page

general motors corporate governance 2008 ed whittaker