This is what happens when you do business with the federal government. If you take a handout/bailout from Uncle Sam, then the politicians in the Congress are going to come after you. They will make you cry. They will make you beg. And they will get on a power trip in order to make you look bad.
Then they'll come in and tell you what you can and cannot do with your company. They will also tell you how much you can make.
"The Pay for Performance Act of 2009 would impose government controls on the pay of all employees - not just top executives - of companies that have received a capital investment from the U.S. government. It would be changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies." - The Washington Examiner
The government is going to have these companies stupid enough to take a bailout, to bend over a bunch of times and grab the ankles, for whatever money they get from the government.If you play, you pay.
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11 comments:
I'll bet that, right about now, Ford is pretty damn happy they didn't take any of that bailout money.
Barack as a GM car salesman? This is nothing new I hear. Apparently Bush 41 turned Airforce One into a corporate jet and flew many American executives to Japan.
Once they got there, I am told by a wise old man who lives in my neighbourhood that Bush 41 and all these Big Hitters bowed three times in front of the Emperor of Japan and begged him to force Japanese people to buy American cars.
For Japanese dissenters, Bush 41 offered a place of re-education in Guantanamo, Cuba. The Emperor turned him down, apparently.
Then, so I am told, Bush 41 got back at the Emperor by puking on his Prime Minister during dinner that evening?
Is this true?
The automakers should have seen this coming the government wants control of everything,and they are going to use the the automakers as their stepping stone.Government is out of control.
Good grief. Do you think that people are starting to realize their mistake in voting for Hopey Change? I wouldn't buy a GM car if you paid me!
Government Motors. Haha, I love it. We all know the great job the government did with social security, and welfare reform, so I guess GM will thrive now ?
Glad I am a Ford guy
Hey, GM is getting exactly what it deserves.
Actually, that's not entirely true. It deserves to be out of business for making junk that consumers don't want to buy.
Shame on GM and Chrysler for begging for government money to keep operating. I hope they both fold.
Screw 'em.
The Hawg!
It's a sad, sad state of affairs. Government never has worked. It's the most dysfunctional entity out there.
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Health is Wealth
http://arlenecollado.com/
Well apparentely no one does get it as it's full speed ahead!
Of course Obama can change a tire. He was the candidate of change.
To change a tire
1. Have 100 ACORN workers complain about the flat tire.
2. Have Barney Frank and Nancy Pelosi approve a few million for a new art center in the auto repair district.
3. Establish the office of the Tire Czar, and hire a few hundred staff members.
4. Develop new federal tire changing standards.
5. Search for a UAW approved garage.
6. Arrange for billion dollar bailout for garage.
7. Have garage change tire, then raise the garage owner's taxes.
I have to take exception with those that say that GM makes a bad product--I don't think that they do. The Chevy Malibu, The Buick LaCrosse, Chevy trucks, and other vehicles are well made. The issue is that GM's business model (re:legacy cost)is lousy. That being said, the government should not be bailing them out and they should not be looking for a bailout.
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