Aight. I was watching some coverage on the Automaker Bailout last night during my graveyard shift and I was in awe. These 3 CEOs were pretty damn arrogant. Now I fully understand the repercussions America will feel if the "BIG 3" go under but they could at LEAST look legit in their "begging" of American taxpayers. Congress grilled them on their arrival to the hearing in luxury private jets. The jets cost $20,000 a pop (round trip) as compared to the $288.00 round trip ticket in a coach seat. Lol. One of the congressmen even went as far as to read out each CEO's annual salary and ask if they'd be willing to lower that salary to just $1... in good faith to show the American public that they're committed to solving this financial crisis. Each CEO basically answered "no"......but just really sugar coated it. When asked straight up if $25 Billion would ABSOLUTELY be enough to end this crisis, CEO Alan Mulally blunted stated that if it wasn't........they basically would come back and ask for more. Alan Mulally will make $35 Million dollars this year alone, not including stocks and additional incentives.
Thursday, November 20, 2008
IN ECONOMIC NEWS
Aight. I was watching some coverage on the Automaker Bailout last night during my graveyard shift and I was in awe. These 3 CEOs were pretty damn arrogant. Now I fully understand the repercussions America will feel if the "BIG 3" go under but they could at LEAST look legit in their "begging" of American taxpayers. Congress grilled them on their arrival to the hearing in luxury private jets. The jets cost $20,000 a pop (round trip) as compared to the $288.00 round trip ticket in a coach seat. Lol. One of the congressmen even went as far as to read out each CEO's annual salary and ask if they'd be willing to lower that salary to just $1... in good faith to show the American public that they're committed to solving this financial crisis. Each CEO basically answered "no"......but just really sugar coated it. When asked straight up if $25 Billion would ABSOLUTELY be enough to end this crisis, CEO Alan Mulally blunted stated that if it wasn't........they basically would come back and ask for more. Alan Mulally will make $35 Million dollars this year alone, not including stocks and additional incentives.
Subscribe to:
Post Comments (Atom)
6 comments:
I think that Congress and America for that fact are going about this all wrong. The Republican weapon that is used in time of economic crisis is the "Trickle Down Effect". Which basically gives Mutli-Billion dollar corporations incentives like tax breaks and/or bailout money in the hopes that money will "trickle down" to the end consumer. Now we are talking about millions even billions of dollars here. This shit doesn't work. The Democratic weapon that is used in time of economic crisis is the "consumer push", where obviously tax breaks or rebate checks(we all remember those) are issued to the end consumers in hopes that consumer spending will push the economy. We are talking tens of hundreds of dollars here. Do you see the blaring difference? What i am proposing is this.....a $700,000,000,000 (700 billion) bailout plan for 305,704,776 Americans (we wont include these fuckin CEO's in question). Lets do basic math...division that is. I dont know about you but i could sure use an extra $2300 in my pocket....wait wifey also gets $2300... and dont forget my two kids...my family would get $10,400 in bailout money. How many people in your family? Do the math?
After watching this video, it sure makes it hard to buy American.... cars that is.
signed,
honda owner
Pensive - I dig your emotion. the "trickle down effect" was a tactic that ol' John McCain kept pushing, which spoke volumes about his true concern for the "little man". The lower and middle class would get about as much "trickle" as Jesus got on the cross when he asked for water. And when GW passed out checks for families to spend in order to boost the economy, it back fired. The "B12 concept" back fired when over 50% of those who received checks, either clung to them or paid off debt. Neither of which would stimulate the economy at the speed the government was hoping. So you're right, neither the Demos or Repubs spat out decent ideas. I like your concept brother, $10,000 would go a long way. People could ELIMINATE debt which would qualify them for mortgages and automobiles at a much faster rate, thus boosting the economy and hopefully the Dow. But I see 2 initial problems. If we didnt bailout the auto industry, tens of thousands of jobs will be lost, skyrocketing unemployment. 2nd would be the amount, we just cant write OURSELVES a check for nearly 1 Trillion dollars. Although the idea would solve issues fast, it would cause problems slowly. What to do What to do.
Beast.....I am glad you liked my Hybrid method of economic solutions (that seems to be a 22nd century word- HYBRID). However i see some disagreement in the fact that I wouldn't bail out the top 3 automakers. We are talking straight business here....business is cutthroat. There is nobody bailling out MOM & POP stores, because that is the law of the land... IF you cant run your business than your industry will eat you up and spit you out.... and i guarantee you there will be another MOM & POP store occupying your formerly leased space by the end of the week. Simply put this is just the Circle of Life...business life, that is.
So let me hit on the unemployment that a non-bailout would cause. I really dont believe that these automakers would go completely bust to the point where every single one of their empoyees are now lining up at the Unemployment line. First of all big corporations like these usually have self funded unemployment plans. Which basically means that there insurance carriers has made it obligatory for them to set aside funds in case shit happens. So lets say shit does happen and every one of their employees gets the boot....wouldnt they love the money from my Hybrid Bailout plan.
I think that it is hilarious that these three CEO's have banded together. If anyone of these corporations had a lock down on the industry that required government intervention that CEO would say fuck you Uncle Sam...laissez faire.
So lets say they get their bailout money(which i think is going to happen) government is going to have a tight leash on their operations...which leads us to a non-democratic society...its more of a communistic one.
Pensive - Mom and Pop shops don't have the amount of impact as compared to these automakers. But if we keep printing out this money, then we can expect to see our dollar value take a beating.
Hold on to your Pesos homie!
It's the perversion of the rich! I rememeber some council (may have been the same type as with the auto companies) was grilling the mortgage CEO's and asked them "Would you be suprised by a salary of over 1 billion dollars (or some other grossly large amount) and all of the CEO's were on mute...
Pure WTF-ness!
Andre- Appreciate you stopping by. What's up with all these CEOs!!? Some ruthless muthafuckas. Lets's not forget the gas/oil CEO'S who used no lube when fucking this past year. I guess that's why hell exists, for CEOs.
Post a Comment