GM to return two leased jets amid criticism

[Buickman]

Originally Posted by fp115

Well here's one, Rick and the other execs are getting no bonus this year.

getting NO BONUS??? and he lost $74 Billion in the last 5 years! company value GONE! no dividend! bankruptcy a breath away! and you offer that he gets NO BONUS??? shows how misguided your thinking is.

[fp115]

Originally Posted by Buickman

getting NO BONUS??? and he lost $74 Billion in the last 5 years! company value GONE! no dividend! bankruptcy a breath away! and you offer that he gets NO BONUS??? shows how misguided your thinking is.

I don't offer, its already done. His $2.2m salary is nothing to be too worried about, how is that going to save the company any money?

[Buickman]

Originally Posted by fp115

I don't offer, its already done. His $2.2m salary is nothing to be too worried about, how is that going to save the company any money?

it's not his salary I'm concerned with, it's his performance. let's assume for a minute that Wags isn't the crook I claim he is, say he's just a nice man trying his best. well his best didn't work and he needs to be replaced. he's had plenty of time to make his mark from CFO to head of NAO to COO to CEO to Chairman. I don't need to repeat his record of disaster, we all are aware that the company is worthless and already bankrupt on paper. in the name of decency the guy should resign, but like Marinelli he won't no matter how bad the losses stack up.

[fp115]

Originally Posted by Buickman

it's not his salary I'm concerned with, it's his performance. let's assume for a minute that Wags isn't the crook I claim he is, say he's just a nice man trying his best. well his best didn't work and he needs to be replaced. he's had plenty of time to make his mark from CFO to head of NAO to COO to CEO to Chairman. I don't need to repeat his record of disaster, we all are aware that the company is worthless and already bankrupt on paper. in the name of decency the guy should resign, but like Marinelli he won't no matter how bad the losses stack up.

Don't deviate from the original discussion, which was Wagoner not making sacrifices.

[Buickman]

Originally Posted by fp115

Don't deviate from the original discussion, which was Wagoner not making sacrifices.

sacrifices??? and they are what? paycut that was restored? no bonus for ruining the company? that doesn't qualify as a sacrifice.

[fp115]

Originally Posted by Buickman

sacrifices??? and they are what? paycut that was restored? no bonus for ruining the company? that doesn't qualify as a sacrifice.

He will still be making much less this year than he has in the past.

[Buickman]

Originally Posted by fp115

He will still be making much less this year than he has in the past.

that is not sacrifice. he shouldn't even have a job.

[2002 Caddy]

Originally Posted by Buickman

that is not sacrifice. he shouldn't even have a job.

We should return Rick and keep the jets.

BTW GM has 5 jets... Returning 2 when you still have 3 is not much of a sacrifice at all

[fp115]

Originally Posted by 2002 Caddy

We should return Rick and keep the jets.

BTW GM has 5 jets... Returning 2 when you still have 3 is not much of a sacrifice at all

GM must still keep some as some executives require them as per their insurance. The company's insurance can skyrocket by more than the plane's cost if some of the executives were to use public transportation.

[Sal Collaziano]

I bet they'll get jets back as soon as they have our money in their hands..

[Buickman]

Originally Posted by fp115

GM must still keep some as some executives require them as per their insurance. The company's insurance can skyrocket by more than the plane's cost if some of the executives were to use public transportation.

I seriously doubt that, even with the extensive travel done by Mr Wagoner. another thought, maybe he should stay in Detroit more often instead of globetrotting. perhaps he'd be a bit more focused.

[fp115]

Originally Posted by Buickman

I seriously doubt that, even with the extensive travel done by Mr Wagoner. another thought, maybe he should stay in Detroit more often instead of globetrotting. perhaps he'd be a bit more focused.

All travels at GM have been ceased, even driving from one city to another. Everyone is doing meetings through webEX and the AT&T meetings. Business travel is close to non-existant these days and if done, its on your own expense.

However meetings such as ones in Washington, there isn't much choice but to go there, can you see all the senators go to Detroit?

[Buickman]

Originally Posted by fp115

All travels at GM have been ceased, even driving from one city to another. Everyone is doing meetings through webEX and the AT&T meetings. Business travel is close to non-existant these days and if done, its on your own expense.

However meetings such as ones in Washington, there isn't much choice but to go there, can you see all the senators go to Detroit?

that being the case, a commercial flight would only make sense. besides, it's time for the hierarchy to mingle with regular folk. perhaps they might begin to understand how things are in the real world. execs should also take their company cars into dealerships and experience the joy of waiting in the service lane.

[03xtreme]

Originally Posted by Buickman

that being the case, a commercial flight would only make sense. besides, it's time for the hierarchy to mingle with regular folk. perhaps they might begin to understand how things are in the real world. execs should also take their company cars into dealerships and experience the joy of waiting in the service lane.

hmmm gm doesn't own the dealership, maybe i'm wrong on that, but i thought dealerships have agreements with manufacturers, thus even Hendrick (sp?) sells toyota's, believe it or not.

you should go back in history a little bit before you pin this on wagoner. he's done more with the product line than the last 2 or probably 3 ceo's have. i believe he brought in mr lutz.... and is the one owning the china market. he has decades of poor management to overcome and much of today is inherited and lingering from previous management.

got anything to say about the board of directors, after all they control his fate, not he himself.

[fp115]

Originally Posted by Buickman

that being the case, a commercial flight would only make sense. besides, it's time for the hierarchy to mingle with regular folk. perhaps they might begin to understand how things are in the real world. execs should also take their company cars into dealerships and experience the joy of waiting in the service lane.

With insurance, it is really difficult to take most forms of transportation. Costing millions more just to save a few thousand dollars per flight doesn't make much sense to me. However a lot of executives have lost privileges. Regional presidents don't have as many perks as before, their VPs jumped down an entire level in terms of support. Its costing much less for these guys as it has in the past.

That may be true, I usually do what i can to avoid dealerships, not so much the service but the experience at some of them. The CTS is an example of dealers frustrating me, I just found a way to get myself the price for the car and didn't allow the dealership any way to negotiate a price. Then again he didn't do much arguing because I bought 2 cars from them at a time.