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View Poll Results: Should the US Government be allowed to fire a company president?

Voters
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  • Never! If it starts with the car companies, who's next? Let the board of directors decide!

    35 66.04%
  • Yes, in limited circumstances the Govt should "ask for the resignation" when deemed appropriate.

    18 33.96%
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  1. #1

    Default Should the Government be allowed to interfere in a private company?

    So Rick Wagoner is on the outs, he was fired by Barack Obama. Does the president have this power? That does everyone think about this?

    Should the Government be allowed to interfere in a private company?

    Steve
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  2. #2

    Default

    great topic for this board, related to this post i made a few weeks ago:

    http://www.gmtruckclub.com/forum/showthread.php?t=20233

    seems to be the same issue in a different light. interested to see if you guys have a different opinion about bailing out the auto industry.
    08 Colorado Z71
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  3. #3

    Default

    I personnally dont like to see goverment interference in private buisiness.
    But since GM asked and the goverment decided to spend "our" money on bailing companies out of a predicament that "I feel" the companies brought upon themselves then yes the goverment had better oversee my money. Even if that means stepping in and firing key people. I'm like a big stockholder I want a good return on my investment.
    Look at the AIG issue, these people are still trying to pillage the village long after it's been burned down, their waiting for the rescue forces to bring them relief funds meant to reconstruct so they can pillage them too for their bank accounts, not to rebuild.
    I was always taught a bonus was extra earned for doing above and beyond the set measure, if the companies are failing why do people think they deserve a bonus, you didnt succeed above the set measure. And so what if they quit because they didnt get their bonus, do you really think theres a company out there that can and will offer them a big bonus to come work for them, their last job was with a company that failed.

  4. #4

    Default

    The corporate world isn't that way any more. Everyone is managed by MBOs (management by objective) so that you start out at a set salary, but you earn a bonus if you can reach certain objectives. Even if times are bad or if the company isn't doing well, you still met what you were supposed to, so you get your bonus.

    In former years, it would have all been "salary", but now they lower the starting salary and give you the extra money if you hit your targets, ie. the "bonus". The end result is the same amount of money.

    That way, if they fire you or if you go on disability, you get your "salary" and they don't have to pay the extra bonus money, so they can save a lot of money. I've been working like the for the last job that I had and sometimes the bonus can be upwards of 1/2 the compensation.

  5. #5

    Default

    Personally no, the company got themselves into it, they should deal with it themselves. Your government shouldn't have given the money to the manufactures, but instead the people buying new vehicles.
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  6. #6
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    Default

    I don't think the government is bailing out JUST the auto-undustry, they are bailing out the United States as a whole. For instance when we were on strike here in Ohio, it wasn't just the local unions out on the street it was everyone in the community. Here are some of the companies that sent people out to stand with us on the picket line:
    Gyro George
    Speedway gas station
    Brookpark lanes bowling alley
    Antonios pizza shop
    Mr. Chicken
    Dunkin Doughnuts
    Pizza Hut
    Subway
    Arby's
    A handful of local bar owners and staff
    Parma GMC & Chevrolet dealers around the plant
    Shiloh truck drivers
    Local automotive shops, Conrad's, GoodYear, Jiffy Lube

    All of these places would shut down for sure because as they stated for the local news, WE are 75% of there business and we are some of the best tippers around. This bailout effects everyone in some way or another whether you realize it or not, if you have a GM or Chrysler plant around your neighborhood stop in a local restaurant or business and ask them how THEY would be affected by the downfall of any of the BIG 3. All I can say is that it is just a sad situation all around, I just give up any more to be honest. Only time will tell if the government can do better than we have been doing for the last 100 years, good luck to Obama and his administration.
    2004 Chevy Colorado
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  7. #7
    Legend cascott325's Avatar
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    Default

    in my opinion, the president of the united states is THE big boss man, and he has the power to do what he deems necessary to see that our country is doing the best it can. i mean look at general motors, look at chevrolet, look at nascar, note how many nascar teams out there are chevrolet teams, and see how much money chevrolet dishes out to each team... over 6 million dollars PER TEAM!!! over half of the field in nascar is chevrolet (i love that fact) but what about our money. as much as i hate to say it, going to a race or watching a race on television is a luxury. i need to know that the tax money that come out of every paycheck i draw, the $150 that come out of every $450 i earn is going towards bettering our economy, making America stronger as a nation, and ensuring that those willing to work will have a job. i do not agree with those who are not willing to work, getting a check. i do however, agree that the people who have a disability and cannot work should. though i may be an extreme republican, i am a logical human being who want to better his world and himself. i think that if we as a nation would forget trying to be so politically correct, grow some balls and learn to say NO once in a while, that we would be fine, and our treasury would jump back up in no time.
    2000 silverado with a 5.3l v8, shorty headers, upgraded plugs, 10 mil wires, magnaflow high flow cats, flowmaster 80 series muffler(2 in 2 out) w/ 18 inch stainless silverline tips. i have a k&n CIA. its a 4x4 z71 offroad package. Ls model.
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    Chris

  8. #8

    Default

    I understand the MBO theory.
    The company I work for just renegotiated all bonus contracts away from the MBO schedule to the traditional style bonus, this was willingly initiated by the employee's directly affected by the bonus schedule. It involved rescheduling some pay rates but in the end the employees will win by securing our employment for the future and loosening up capital for the company to grow. Most employees are earning higher than average wages for our sector anyways because our companies always been generous with raises.
    But the simple 2+2=4 fact is if you keep taking big bonus's when your company's on the ropes in the end all you do is close the company faster, taking away any extra time that may have been gained and may have given enough time to wait out the financial situation for better times.

    Basically taking everything you can now and not worrying about the future.
    One of the biggest problems Americans have is the attitude "I want it right now, and I deserve it".

  9. #9

    Default

    A lot of vary valid points. I have to mention that Wagoner did not play the game like the other CEOs did. He did not pillage funds from the company into his own coffers like the greedy BAST***s did. So I do not think its fair to ask him to step down in his situation, especially when they did not do the same to the banking industry. That being said, part of the reason we are in this mess now was do to the fact that over the last decade the government eased ristrictions on the banking industry. It is unfortunate that if you leave an avenue of abuse, someone will abuse the hell out of it. With the economy being so global we cannot afford to not have government oversight on major corporations when their fiscal health can decide if the country fails or prospers. I have been a union employee in 3 different fields, (my entire working life) and come from a family made up of union employees so my heart will always be with the workers and independance but the times we are in call for checks and balances. This is not the first time this has happened in America. If you let big business run the show unchecked, bad things happen!
    Well that was quite the rant, just my opinion. Thanks for listening!
    The diference between stupidity and genius is that genius has limits.

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  10. #10

    Default

    Since when does a loan constitute stockholdership? So if a bank loans money to a company, the bank can then come in and tell them how to run the operation, what color to paint the walls and who they can and can't hire and fire? If and only if that was part of the loan agreement, then maybe. The SBA gives out all types of loans all day long, does that give the President or Congress the ability to demand that they do business a certain way?

    Moreover, we're a nation of laws, not a nation of men. We don't have a soverign. The office of the President does not run the country, the occupier of that office can not do whatever he sees fit. That position is merely 1/3 of the government which should be here to protect and serve, provide roads for commerce, protection from crime, oversee property rights, etc.

    What I don't understand is how people who have never written and executed business plans can think they could do a better job running an automobile company, let alone the heir appartent Fritz Henderson, who I know a little bit about, he's another lifetime GMer.

    I think everyone knows the main reasons that trucks and cars are not selling is the previous high cost of fuel (unrelated to the performance of the company), the housing bubble that burst (again, unrelated) and other speculative and harmful business practices across the business world. All of these unemployed people don't need new cars. Construction firms that are not working don't need a new truck. Plus, cars and trucks are built better, so instead of keeping them 50,000 miles llike you did 30 years ago, you can not run them 200,000 miles.

    Just like other depressions and recessions in history, people who have jobs quit buying large capital expenditures like houses and autos. Throw in a credit freeze (again from the burst bubble) and it makes things all that much worse.

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