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General Motors Company Message Board

  • the_moolah_mullah the_moolah_mullah Jun 28, 2013 8:46 AM Flag

    NEW GENERAL MOTORS MEME

    Takes $49b in bailout money
    pays bonuses to management and uaw

    Sentiment: Strong Sell

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    • "Takes $49b in bailout money
      pays bonuses to management and uaw"

      OK, let's hear your side, mullah. What would it take for GM to become a 'normal' company again, by that I mean be able to conduct its business like spending money overseas, granting bonuses, etc. without your endless scrutiny on every little expense.

      Here's some choices:

      1. Pay the government $XX billion which is the difference between $49B and the accumulation of repaid debt, proceeds from previous stock sales, and the current value of the stock. This would take a BOD vote, maybe even a shareholders vote because this money is not owed. It would be a gift to the Obama administration.

      2. Issue additional stock to the UST for the difference described in #1. Again, it would legally have to be approved according to the by laws of the company since it is not a debt or liability.

      3. Another plan of your liking.

      • 9 Replies to wngr123
      • Wngr,

        Time for GM to pay back American taxpayers for the massive favors they gave you:

        IDEA #3: PAY FUTURE EMPLOYEE/MANAGEMENT BONUSES IN THE FORM OF STOCK SHARES REPURCHASED FROM THE US TREASURY AT THEIR ORIGINAL PRICE PLUS INTEREST

        Why should GM managers and UAWs get cash bonuses, while we taxpayers stand here with our pants around our ankles? This is injustice. This is unfair. This is wrong! GM can pretend it is a victim here, but it was clearly a co-conspirator and most willing beneficiary.

        GM managers and UAWs should get all bonuses in the form of repurchased US and Canadian Govt shares. Here's how it could work:

        1. GM begins share buybacks of remaining US Govt shares back at $75 per share, or whatever level it takes to make US taxpayers whole.
        2. GM issues the repurchased shares to employees instead of cash bonus checks. So maybe if your bonus next year would have been $3,000, you will get 40 shares of GM instead. This increases YOUR skin in the game; at the same time, it reduces the taxpayers' risk and makes up our losses; both good things. UAWs are motivated not to strike and managers are motivated to grow earnings, so profits and share price should go up faster than they have been!
        3. If GM has so much cash that they were talking about paying dividends to shareholders, then they can and SHOULD start buying back our shares at well above market price. A company has the right to do this if shareholders approve and the US and Canadian govts are the largest shareholders. If GM can't afford the cash to start some buybacks, why are they paying bonuses?
        4. Once all US Govt shares are bought back, it's the Canadians' turn to get THEIR money back.
        5. As far as the UAW Medical Trust, screw them. They should never have seen a dime during the BK.

        I trust these thoughts will not be liable to the least objection.

        /mm

        Sentiment: Strong Sell

      • WNGR,

        Y ah oo is not letting me post my replies.

        /mm

        Sentiment: Strong Sell

      • Here are some ideas for GM to do for starters

        1 TELL THE TRUTH

        2 SURRENDER THE REMAINING TAX OFFSETS

        3 PAY FUTURE EMPLOYEE/MANAGEMENT BONUSES IN THE FORM OF STOCK SHARES REPURCHASED FROM THE US TREASURY AT THEIR ORIGINAL PRICE PLUS INTEREST

        /mm

        Sentiment: Strong Sell

      • Wngr,

        I had a serious answer composed to this and Yahoo killed it. They seem to want more short posts and few thoughtful essays.

        /mm

        Sentiment: Strong Sell

      • (((((OK, let's hear your side, mullah. What would it take for GM to become a 'normal' company again, by that I mean be able to conduct its business like spending money overseas, granting bonuses, etc. without your endless scrutiny on every little expense. Here's some choices:
        1. Pay the government $XX billion which is the difference between $49B and the accumulation of repaid debt, proceeds from previous stock sales, and the current value of the stock. This would take a BOD vote, maybe even a shareholders vote because this money is not owed. It would be a gift to the Obama administration.
        2. Issue additional stock to the UST for the difference described in #1. Again, it would legally have to be approved according to the by laws of the company since it is not a debt or liability.
        3. Another plan of your liking.)))))

        And so I shall.
        But as I start, why do you say I was endlessly scrutinizing every little expense? In fact, I recently DEFENDED GM's usage of charter jets for execs, in case you missed that. At $4400 an hour, why would you want a CEO taking his shoes off for some $14 an hour TSA loser?

        /mm

        Sentiment: Strong Sell

      • My attitude toward anything the moolah posts? "rolls eyes" - "whatever". Michele Bachman gets my same reaction. What a damned joke.

      • Never a dime to shareholders Taxpayer get screwed yet again. So much fun telling the real truth.

      • It appears that spending too much time interacting with the rest of the basher ilk is beginning to affect Webby/Clown/Mullah in a profoundly negative way. This clever, thoughtful post could have just as easily been made by the newly minted QQQ or any of dozens of other idiot members of the ilk.

        Maybe we could get together with Supor, Justum and other concerned posters and do an intervention.

        Sentiment: Buy

      • Do you think that the Colonel General (demoted for bad behavior) is receiving unfair criticism?
        The General was bad anyway you slice and dice it. By bringing in management talent from
        Vauxhaul/Opel, Ackerman meted out the worst judgement of all. The essence of his move was
        "our bootlickers don't measure up.

        The plain fact is that when someone goes belly up, it takes years of exemplary behavior before
        they receive the respect due honest, reliable performers. Getting down on your knees and
        pleading for mercy just won't cut it.

 
GM
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