JohnLarue said:
Merging two bad companies into one will not make a winner
Product innovation is poor
Were not prepared for the sharp rise in gas (yes oil is down below 80 /bbl - nut for how long- they may have caught a break there)
Quality sucks
Cost of labor is not competitive
Credit crunch will stifle sales in a very competitive market
The merged company will only survive if they close many plants, start building cost effective fuel efficient cars and most importantly form a working partnership with the unions.(ie substantial cuts in pay 25-40% reductions)
The unions had better wake up & pitch in or this merged company is gone
Here we go again. "It's the Union's fault"
Like the Unions are designing the cars. Sales of North American cars are way down because of shit quality, shit reliability, poor performance, boring styling, not because they're too expensive. North American cars are already far cheaper than Japanese cars and people still don't buy them. The Japanese manufacturers manufacture in North America and pay similar compensation to thier North American counterparts. Yes, the Japanese do not have similar legacy costs like the NA producers do. But in time, they will. Japanes labour (as far as the imports go) is actually MORE expensive than American labour.
The difference is one of Engineering. Plain and simple.
Why is it that people beat the shit out of the little guy, yet the fat cats making 50 million a year a get a pass.
If you think it's a good idea to bust some guy working on the line by 40%, keep in mind the taxes that he's paying and the money he's dropping into the economy.
As far as I'm concerned, the CEO of GM (who should be fired) should not be making more than 250 grand a year.
In 2006, Wagoner's total compensation was $14,415,914.
Link:
http://investing.businessweek.com/b...=878402&previousTitle=Mahindra & Mahindra Ltd.
Your average guy on the line probably makes $65,000 a year, maybe 85,000.00 with a pile of overtime.
You think that the fat cat is worth 221 times what I guy on the line is worth?
You think that's right?
Back in Harly Earl's day, he wasn't making 221 times what the guy on the line was making, I can assure you.
I'm the furthest thing from a socialist, but this kind of shit is everything that is wrong with our current system.
Everybody blames the little guy, but the fat cats get a pass.
