Wonder what his golden parachute is? - Page 6 - Mercedes-Benz Forum

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post #51 of 79 (permalink) Old 03-30-2009, 12:53 AM
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Not at all, realize there can be more than one person with views different from yours. If you don't , rest assured that there are others who share the same distorted misconception with you.
He would never be able to grasp such a concept.

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post #52 of 79 (permalink) Old 03-30-2009, 01:00 AM
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He would never be able to grasp such a concept.

Isn't that one of the 1st signs, talking to yourself.......
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post #53 of 79 (permalink) Old 03-30-2009, 06:48 AM
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NO freakin' doubt.
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post #54 of 79 (permalink) Old 03-30-2009, 12:17 PM
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Did Wagoneer perform any worse than the executives at BofA, Citigroup ?

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By all accounts, Wagoner made progress in fixing GM. While CEO, he cut its U.S. work force from 177,000 to roughly 92,000 today.

Wagoner also closed factories; shed the unprofitable Oldsmobile brand; globalized GM's engineering, manufacturing and design to save billions; and led a resurgence in quality and performance of its long-neglected cars. In 2007, the company reached a landmark agreement with the United Auto Workers that shifted massive retiree health care costs to a union-run trust and ushered in a $14-per-hour wage for new hires, about half that of a current laborer.

But critics, including many members of Congress, say Wagoner moved too slowly, failing to cut enough of the company's huge health care and pension costs, and relying too long on high-profit pickup trucks and SUVs as gas prices rose and the market shifted toward smaller vehicles.

In the past four years, GM has piled up $82 billion in losses.

Still, Wagoner had the company moving in the right direction, Anwyl said.
GM CEO Wagoner forced out as part of gov't plan
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post #55 of 79 (permalink) Old 03-30-2009, 12:38 PM
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^ Pssst....you're being owned in the Coke thread. Might want to trip on over that way.
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post #56 of 79 (permalink) Old 03-30-2009, 01:15 PM
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Did Wagoneer perform any worse than the executives at BofA, Citigroup ?
Two good ways to answer that question.
  1. Damn Skippy, that's a mighty low bar you set.
  2. Two different industries with two different challenges, nearly impossible to map performance points.

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post #57 of 79 (permalink) Old 03-30-2009, 01:44 PM
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"There seems to be a double standard between manufacturing in the heartland and the cozy club room that is Wall Street."

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Wagoner out, bank CEOs safe - huh?!
Apparently, if you're the CEO of an auto firm, you may have to sacrifice yourself to get another bailout. But many bank CEOs have held onto their jobs.

NEW YORK (CNNMoney.com) -- Let's get this straight. If you are a CEO of a bank that's losing gobs of money, the government will bail you out repeatedly and let you keep your job.
...
"There seems to be this belief about how you need to treat financial executives with kid gloves because they're needed to dig us out of this mess," said Jamie Court, president of Consumer Watchdog, a nonprofit, nonpartisan, consumer advocacy group.

"The signal that has been sent to Wall Street is that their jobs are not on the line," he added. "There seems to be a double standard between manufacturing in the heartland and the cozy club room that is Wall Street."

So what gives? Is the government being too tough on Detroit? Or not hard enough on Wall Street?

Washington tougher on Detroit than it is on Wall Street - Mar. 30, 2009
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post #58 of 79 (permalink) Old 03-30-2009, 01:55 PM
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What's the legal justification behind asking for these resignations in one industry while those in another are not just left off the hook but given more pandering ?
You don't need a "legal" justification for "asking". This was a request (asking) not an order or a termination. However you are right, the others in the financial industries should also be "asked" to step down.
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post #59 of 79 (permalink) Old 03-30-2009, 01:57 PM
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I totally agree that these executives should be ousted given the mess they made.
But picking and choosing which industries , which companies (Bear Stearns/Lehman were decimated while Goldman pampered), which CEO's survive is inappropriate for the White House to be engaged in. This process cannot be anything but corrupt.
I won't say a damn thing.
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post #60 of 79 (permalink) Old 03-30-2009, 02:03 PM
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Wagoner's statement

On Friday I was in Washington for a meeting with administration officials. In the course of that meeting, they requested that I "step aside" as CEO of GM, and so I have.
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