GM needs to have a bankruptcy, It sickens me to say it.
My sister works there, and so does her husband.
Guess what----My sister makes $130k/year. (no she is not an executive) I have not heard that she received a pay cut. Get this---My sister actually received a bonus 5 years ago when GM actually lost money one year. I sum it up to bad management and no one watching the bank account.
GM now needs to go through a quick bankruptcy to allow the following to happen.
1. Throw the over paid execs out---A judge needs to do it.
2. ALL the retirees need to be off the payroll---It sickens me to say it but GM cannot keep paying out the money to the union retirees/salaried retirees and the exec. retirees. Some of the retiree benefits are covered under insurance policies---I have no specifics or details. Maybe offer a buyout like $50k if you dont take it then you get nothing after the fact.
3. Pay cuts for ALL employees, minimum 20%
4. Sell Saturn and Saab.
5. Allow more stockholder input to restructure the company.
6. Hang Rick Wagoner and other execs from a rope for allowing stock holder equity to be wrecked along with wrecking the company. This would destroy the good-ole-boy mentality in the company. 7. Lots of praying.
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Today's Featured Article - The 8N and the Fox - by Zane Sherman. Dec. 13 1998, Renfroe, Alabama. Last niht I dreamed about the day that I plowed the field of about 10 acres over on what Jimmy and Dandy called the Ledbetter field. I was driving the 1948 8N Ford tractor that Jimmy bought in 48 new This was prebably in about 1951 and maybe even befor the house was built. This would have made me to be about16 years old and I drove the tractor for nothing and would have paid to drive it if I had had any money which I didn't, but neit
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