Top GM exec says federal pay limits hurt company

Why don't they give them gm stock instead.

The government gave General Motors $49.5 billion to bail out the automaker in 2008 and 2009.

They filed for bankruptcy which stiffed how many people and how many jobs lost because of it and bet we are now supporting these people, plus how many handouts and grants since then, just how much taxpayers money have they really gotten and don't forget gmac (ally).

We will never recoup what that have stripped from taxpayers.

sure relax the restrictions just as soon as they pay back the loans and reduce the price of autos.

As a taxpayer I'd be happy to throw in my share of GM stock! Since 'we the people' still have over 30% interest, caps on compensation remain. The overly paid execs drive this company into bankruptcy; not ready to try that again.

Considering the plight of many Americans, my only response to GM is "poor baby"! Thought near death experiences would leave you humble and grateful not wanting and greedy.

unions are a huge factor in the price of a car

Those old blood-sucking unions that are responsible for most of the benefits that people like you enjoy and don't appreciate. Weekends, paid vacations, safe working conditions, 40 hour weeks, overtime pay and on and on. I am just amazed at those that think your good ol' employer would have just given you all those benefits out of the goodness of their heart. You live in a very fortunate age where these benefits are the norm and are taken for granted. Try researching the history of these items and the sacrifices workers gave in sweat and blood so that you can bad-mouth their efforts on your behalf today. When was the last time your boss recognized you for you efforts without being prompted? If workers expect a raise today, they get it usually by having to change jobs. In the greedy corporate world today, you wouldn't even dare asked for anything for fear of job loss or retaliation. Just like the Teabaggers who complain above government but take advantage of all it provides, you do the same about unions.

unions are a huge factor in the price of a car

executives are a larger factor in car pricing. Cost is cost and what these companies could make without over paying whining executives is substantial.

the union workers at GM, Ford were paid basically the same as the non union employees at Toyota, Hyundai etc.. around 28 dollars an hour

...but the executives at GM and Ford were pulling in 22 million dollars compared tho their competitors execs who were pulling in 1 to 2 million.

Just how many of those executives built a car? or engineered a design? NONE!

the union isnt the high cost ..these f*ing unproductive pompous execs are.

Every responsible working condition you have was given to you in the imsustrial age. Do you enjoy that your fire escape soors aren't locked to keep you inside? How about that overtime? A little thing called the industrial more than proved that the majority of higher ups don't give a crap about the peons, and why should they? It's heartbreaking that the American worker has been giving away all the benefits earned since we first banded together. We should give a crap about each other

unions are a huge factor in the price of a car

American Dreams

How huge a factor do you think hundred thousands and million dollar salaries and bonuses are in the price of a car? How many union members can you hire for a million dollars?

Coropartions are unions of investors.

GM should have been allowed to go under.

Dog_Blue

You sound like one of those people that believe America should fail. Nor can you prove GM would have been in much better shape.

Who would have financed the reorganization? Private and Public Banks had failed. Lack of financing is the reason GM was unable to sell cars. What you say does not make sense.

So many manufacturing companies have failed here, and we're still here.

Sometimes, it takes something that drastic, to wake a company up to it's own failings. Some make it some don't. Depends on the one running the company.

Those old blood-sucking unions that are responsible for most of the benefits that people like you enjoy and don't appreciate. Weekends, paid vacations, safe working conditions, 40 hour weeks, overtime pay and on and on.

Thanks for pointing that out Ron. I have never been a member of a union, but I know that when unions fought for those benefits for their members, all American workers benefited.

JFM;

I know more about the subject then you apparently do.

Dog_Blue

You know what you want to know. GM has had a junk bond rating for nearly ten years, during which there were years the General was selling record numbers of vehicles, artificially creating sells with sub-prime sales and rolling over balances.

GM was rolling over debt, paying fees to aquire the debt, blackmailing labor and commuinities for wage and tax concessions and incentives, paying only select suppliers and paying to service it's debt, covering it's obligations to Unions with it's junk stock while common stock holders receive minimum dividends and Executives received record salaries and bonuses even giving blue collar workers so-called bonus in lieu of pay increases, sucking every other dime out the company.

By the way, what is it you know I don't know?

Wasn't Akerson government appointed?

greg

Yeah, he lobbied for and got the appointment. However, his appointment was recent, just prior to the public offering and it was not under his leadership that the Corporation made it's comeback.

Bill.... I like it. WTF is this guy smoking. I mean how much money do these executives need to make to make them feel better.

Also if these executives feel that they don't make enough, there are many people to take their place and there are other companies to work at/

I say BYE-BYE