Here we go again, greedy GM ecxecutives want higher pay, for what? they are the ones who caused the failure of this company. How abotu first paying back the government 100% of every single dollar invested by the government to save your sorry rear ends.
I will NEVER buy a GM product until they pay back my tax dollars.
Human nature to want more. Ever King Midas that had it all wanted more. No problem with this I have a problem with the B of D's and the common stock holders that bend over for them.
Between the B of D's, mgt and labor they believe they own 100% of all profits. Think. Who is supposed to own the corp? The common stock holders.
ECON 101 says that the owners are supposed to head the list to share the profits. De we no. Greedy 3 believe they own it and divide it among themselves. The owners, stock holders are at the bottom of the list and as usual the bucket is empty. No dividends for the owners. I do not buy the baloney 'we can't afford to pay a dividend'.
It is time for stock holders to wake up.
You know they don't make enough. CEO's pay is only about 1,000 times the lowest employees pay per hr. You know they can't live on that little.
Common stock holders should revolt and insist they raise the salary to 2,000 times.
Whatever - GM wil be a raving success regardless of what your opinion might be. First, the GM execs are STILL under scrutiny of TARP oversight. Second, there is nary an exec that is at the helm now that was here at or before the government assistance. And, GM has been profitable for 12 quarters in a row (and many more to come). Regarding any repayment, the loans/guarantees that were provided to GM ARE INDEED fully paid back. Regarding government ownership of shares, well, that's for the government to decide when they sell those shares.
You have NO idea what would have happened if GM and Chrysler (soon followed by Ford) went under...
You are truly an idiot; I think that is evident to all.
For example, you continue to point to the fact that 'GM has been profitable for 12 quarters in a row' as a rationale for owning it.
Are you SERIOUS?!!!
Try to envision this hypothetical situation:
Take any other American company you want.
Put $50B in their bank account.
Then gave them $42B worth of tax offsets on top of it.
How much do you think they'd be reporting as earnings 3 years later?
This company is so hosed up, even after a $90B do-over, and with a decent CEO on top finally, they still can only eek out operating margins of 2%.
You must be a GM employee, let me state when I talk about loans, I also talk about the stock the government got in return. Mow mybe the cash loans have been paid, but US taxpayers are going to lose our rearend on GM performance.
The Treasury Department today said that it will sell all its stock in GM within 12 to 15 months and sell 40% of its stake within weeks, starting with a $5.5 billion deal for GM to buy back 200 million of its shares as soon as next month at $27.50 per share.
The government would have needed about $53 per share for its 26% stake to break even on the bailout. The deal negotiated with GM for the 200 million shares will cut the U.S. stake to 19% but raise the price needed to break even on the remaining 300 million government shares to nearly $70.
This loss will be the biggest in the history of our country. As for what would have happened, this is what capitalism is all about. If you do not agree, how about moving France. I am sure you would love their type of government, socialism.