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GM's firings today assure that I will never buy another GM product again

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GM's firings today assure that I will never buy another GM product again

 
Old 02-08-2019, 10:18 AM
  #41  
LarsAtTheBeach
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Originally Posted by red67john View Post

mary is just running her a company and earning her $2,000,000 salary.
*22,000,000
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Old 02-08-2019, 10:20 AM
  #42  
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Originally Posted by C2C3C4C6 View Post
As long is that Troglodyte Mary Barra is running [ruining] GM I will never buy another of their products, including the C8 which I had plans to do. I was shocked to hear that at the meeting where the sheep were led into the gas chamber they were led out to a fleet of taxi cabs to replace the corporate cars that had been confiscated. What a Gestapo move. Based upon GM's lack of culture, class and humanity I am sure that the C8 will probably turn out to be a pile of plastic crap and will kill off the Vette forever.
I don't know Jack about it or her but it sounds like an exec cutting waste. If there are enough people with company cars that don't need them that you can do this, who was giving out all those damned company cars in the first place? That's who your beef should be with.

Fat cats and union bosses are the problem, not front line workers or executives. Odds are she more than pays for herself, and if she didn't, no way GM board or the big funds would allow her to hang on. So I assume she's the bad cop doing what needs to be done.

PS: The Vette has been plastic for a long time.

Last edited by davepl; 02-08-2019 at 10:22 AM.
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Old 02-08-2019, 10:33 AM
  #43  
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The part missing in the posts above, but was stated on Fox News last night is Mary's track record for laying off in the US but creating jobs overseas and Mexico.
I was the victim of a similar move by a big pharma company. It was handled WAY better than Mary's gestapo like tactics.
I worked for several women in the past. The good ones were great to work for. The cut-throat ones were worse than the biggest SOB man I worked for. The worst one enjoyed watching people suffer. Hope Mary isn't in that category.
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Old 02-08-2019, 10:37 AM
  #44  
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Originally Posted by KEZ06 View Post
GM has always needed to be more well run. If she is not worth her comp. the investors will exit the stock. If she is worth it the stock will go up. As a stockholder I want the ceo buried to their eyeballs in stock so they get the same result I do. I do not understand why people think they are owed something from their employer besides the salary and benefits while employed. If you don't like the work or the lack of stability in the job go to work elsewhere. The announcement was 60-90 days ago. It's not like it was a surprise.



Originally Posted by LarsAtTheBeach View Post
*22,000,000
No, her salary is $2,100,000.
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Old 02-08-2019, 10:39 AM
  #45  
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It's not exactly cheap to let employees go either. Some of the relieved employee's functions have to be re-organized and delegated to others, it's just the nature of consolidation. Additionally many employers have found that a sudden dismissal (even if it's been pre-announced months prior) is less risky than informing specific employees their job is gone in 60 days, leaving them to 'simmer' during that time and perhaps doing something sinister in the meantime. Loyalty by employees as well as their employer is a scare commodity these days, it's purely business in a for-profit organization. The last bank I worked for did exactly that - saw many instances of the guy or gal who was happy and there one day, and was not permitted to enter the building the next, instead escorted by security to the HR office where a moderately generous severance package was explained, career training and job placement assistance offered, and their personal belongings returned. I have to admit, once you saw that, you realized it could happen to you so have a plan, do an exemplary job in the work place and you might survive.
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Old 02-08-2019, 11:47 AM
  #46  
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Originally Posted by artz66 View Post
I love how people bring up the bailout. That was 10 years ago, get over it. They paid what they needed to. Back and they can run the company however they see fit.
I'm assuming your sentence says that gM paid back the money they were given in the bailout. If you think this is true, you're wrong. They used additional TARP money to "pay back" the loans. So they used taxpayer money to pay back tax payer money. gM can rot in hell.
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Old 02-08-2019, 11:49 AM
  #47  
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Don't plan on owning another GM product the remainder of my life, has nothing to do with the layoffs, but the bail out, plus **** poor quality products.
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Old 02-08-2019, 12:07 PM
  #48  
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No one with any sense can blame a business for cutting unnecessary costs. I think most feel the problem is the manner in which GM handled the process and the fact that they are ramping up production in Mexico and China while firing American workers and shuttering plants in the US. Right or wrong, it's a bad look.
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Old 02-08-2019, 12:12 PM
  #49  
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Blame politicians for trade agreements.
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Old 02-08-2019, 12:15 PM
  #50  
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My dad worked for GM in the 60s. They had layoffs then, layoffs since, and will in the future. Anyone shocked by an auto industry layoff has been hiding under a rock for decades.
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Old 02-08-2019, 12:18 PM
  #51  
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Originally Posted by LarsAtTheBeach View Post
*22,000,000
Reread post no. 33 above. Her salary is $2,100,000, that's 2 million and $100,000.

As Chairman and Chief Executive Officer at GENERAL MOTORS CO, Mary T. Barra made $21,905,256 in total compensation. Of this total $2,100,000 was received as a salary, $4,956,000 was received as a bonus, $3,250,003 was received in stock options, $10,737,570 was awarded as stock and $861,683 came from other types of compensation.
Also:

https://www.freep.com/story/money/ca...mp/2126262002/

How much is she paid?

Last year, her total compensation was $21.96 million — about 295 times as much as GM's median employee. That's actually a drop from 2016, when she was compensated $22.58 million.

That total compensation, which includes stock awards and pension payments, represents more than what she actually saw in pay. She received a $2.1 million salary and $4.96 million from her nonequity incentive plan.

While exact comparisons to her counterparts' compensation is difficult because there is flexibility in how companies calculate compensation, last year Barra held her own against Ford CEO Jim Hackett and Fiat Chrysler Automobiles' late CEO Sergio Marchionne.

Hackett’s annualized pay was $17.4 million (total compensation actually stood at $16.7 million in 2017). Marchionne was paid $11.95 million in base salary as well as a bonus and a stock award of $35.8 million, which covers a three-year period, rather than one year as is the case for other companies.

More: GM CEO Barra had compensation of $21.96M in 2017

Barra has said she was raised to have a diligent work ethic. And, while she has a driver to ferry her to work and business events, she likes to drive herself everywhere else. She said she can be spotted around Detroit driving her Cadillac Escalade SUV on any given evening and weekend.

Last edited by Vette_DD; 02-08-2019 at 12:21 PM.
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Old 02-08-2019, 12:21 PM
  #52  
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Originally Posted by KarlK View Post
Don't plan on owning another GM product the remainder of my life, has nothing to do with the layoffs, but the bail out, plus **** poor quality products.
Same here. Bailing them out was a profoundly bad decision - we should have let Capitalism follow its natural course. If we'd spend that money re-training all the GM workers who were displaced by the failure of GM, we'd all be better off today.
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Old 02-08-2019, 12:25 PM
  #53  
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Hello Ford
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Old 02-08-2019, 12:43 PM
  #54  
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Ford's Bailout

Although Ford did not receive TARP funds, it did receive government loans. These were critical because banks were not lending during the financial crisis. It requested a $9 billion line-of-credit from the government. In return, it pledged to spend $14 billion on new technologies.

On June 23, 2009, Ford received a $5.9 billion loan from the Energy Department's Advanced Technology Vehicles Manufacturing program. In return, it pledged to accelerate development of both hybrid and battery-powered vehicles, close dealerships, and sell Volvo. It upgraded factories in Illinois, Kentucky, Michigan, Missouri, and Ohio to produce hybrid vehicles.

Ford used the funds to switch its focus to commercial electric vehicles. In 2016, CEO Mark Fields said, "We want to become a top player in electrified solutions. The company wants to lead…we can win such as with our commercial vehicles."

Eighty-one percent of the funds went to create new efficiency technologies for gas-powered vehicles. For example, they helped fund Ford's aluminum bodies in the F-series pickups. The Congressional Research Service estimated the loans saved 33,000 jobs. Ford will repay this loan by 2022.

Many argue that Ford needed the funds to sustain its cash flow during the recession. Ford says it was in better shape than the other two because it had mortgaged its assets in 2006 to raise $23.6 billion. It used the loans to retool its product lineup to focus on smaller, energy efficient vehicles. It got the United Automobile Workers to agree it could finance half of a new retiree health care trust with company stock. By April 2009, it retired $9.9 billion of the debt it had taken out in 2006.
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Old 02-08-2019, 01:04 PM
  #55  
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So everybody gave them, GM, **** when they let it all fall apart in 08' 09', but now their structuring themselves to avoid what they think is a change in market and stay profitable, and their bad for doing so. As much as it sucks its what happens with big companies that have share holders, anyone who works for these monster companies knows this especially white collar dudes. There was a combination of voluntary and firings and apparently they got a package. And whether she makes a million or a billion her job she was hired for is to keep it profitable and rolling and her job to trim the fat when it gets to be too much.
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Old 02-08-2019, 01:33 PM
  #56  
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Originally Posted by dvarapala View Post
Same here. Bailing them out was a profoundly bad decision - we should have let Capitalism follow its natural course. If we'd spend that money re-training all the GM workers who were displaced by the failure of GM, we'd all be better off today.
training to do what? Make Big Macs? Narrow minded economic logic.

Last edited by Red67John; 02-08-2019 at 07:10 PM.
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Old 02-08-2019, 01:55 PM
  #57  
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GM doesn't make a damn thing that I would pay a dollar for so this isn't the reason I won't be buying anything from them. However this place is a kick, talk about laying off is OK, it's necessary cost cutting but no mention of union jobs being vastly overpaid for screwing in lug nuts nor how the UAW was gifted shares in the company by Obama and how they have to employ extra wage roll workers just to make up for those who don't show up to work on any given day.

Anyone know the difference in profit sharing checks between the union employees and salary positions? I bet it's substantial. Why anyone would work salary for a auto company (or airline or etc...) is beyond me.
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Old 02-08-2019, 01:56 PM
  #58  
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Originally Posted by BLUE1972 View Post

Ford's Bailout

Although Ford did not receive TARP funds, it did receive government loans. These were critical because banks were not lending during the financial crisis. It requested a $9 billion line-of-credit from the government. In return, it pledged to spend $14 billion on new technologies.

On June 23, 2009, Ford received a $5.9 billion loan from the Energy Department's Advanced Technology Vehicles Manufacturing program. In return, it pledged to accelerate development of both hybrid and battery-powered vehicles, close dealerships, and sell Volvo. It upgraded factories in Illinois, Kentucky, Michigan, Missouri, and Ohio to produce hybrid vehicles.

Ford used the funds to switch its focus to commercial electric vehicles. In 2016, CEO Mark Fields said, "We want to become a top player in electrified solutions. The company wants to lead…we can win such as with our commercial vehicles."

Eighty-one percent of the funds went to create new efficiency technologies for gas-powered vehicles. For example, they helped fund Ford's aluminum bodies in the F-series pickups. The Congressional Research Service estimated the loans saved 33,000 jobs. Ford will repay this loan by 2022.

Many argue that Ford needed the funds to sustain its cash flow during the recession. Ford says it was in better shape than the other two because it had mortgaged its assets in 2006 to raise $23.6 billion. It used the loans to retool its product lineup to focus on smaller, energy efficient vehicles. It got the United Automobile Workers to agree it could finance half of a new retiree health care trust with company stock. By April 2009, it retired $9.9 billion of the debt it had taken out in 2006.
Unlike gM, Ford received a line of credit from a DOE fund set aside for the specific purpose of developing hybrid and battery-powered vehicles. Unlike gM, Ford is repaying the loans (not bailout money) on schedule and the loans will be repaid by 2022. On the other hand, gM took additional TARP money to "repay" the bailout money it received and taxpayers are out ~$11 billion as a result. That's about $2 billion more than the Ford line of credit.
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Old 02-08-2019, 02:17 PM
  #59  
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Originally Posted by Murray Anderson View Post
They were lucky to get that. When asked to hand your keys in, most places ask you to call someone. Were they GM cabs at least?
It was MetroCar, so a bunch of Chrysler 300s.
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Old 02-08-2019, 02:33 PM
  #60  
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Originally Posted by pickleseimer View Post
Do an exemplary job in the work place and you might survive.
Translation: Slather the right asses with kisses, because they always have need of sycophants.
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