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 - Museum Coverage: The Stuttgart Agricultural Museum - by Cindy Ladage. While cold wind was blowing back in Illinois, in Arkansas, daffodils were in bloom, and the Magnolia trees were adorned with fragrant blossoms. Stuttgart, Arkansas was the site of this year's winter Minneapolis Moline Collector's show February 25-27, 1999. The show was held at the Oliver Museum created by Don Oliver, the pioneer of the four wheel drive tractor. Oliver along with Gale Stroh and Kenneth Bull using Minneapolis Moline tractors and parts created what has become known as
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