"E. Barry Bruyea" wrote in message
news
On Tue, 18 Nov 2008 18:45:19 -0800, "sdgreen"
wrote:


"Len McLaughlin" wrote in message
. ..

"Canuck57" wrote in message
...
Here is a solution for GM that will work.

Each and every employee of GM is to buy stock in the company. Proceeds
will be used to fund GM financial needs.

Employees must own shares to work at GM. The amount is determined by
their compensation. They must own at least 20% of their annual
compensation in common shares of GM. If you are new, you must buy 5%
of
your anticipate income immediately or you cannot be hired.

Managers need to own at least 25% minimum.

Executives must own the equivalent of last years total compensation or
more. This also applies to board members. Board members and executive
not owning at least 50% today are to be discharged unless they correct
the issue in 20 days or less.

Shares already owned count so you don't have to buy more if you already
have them. You may own them any way you wish, but must control the
percentage of shares required.

If you don't have them then 15% of your wage/salary goes towards share
purchases until topped up to the minimum for your job and pay scale.
If
you are an executive or manager, that amount increases to 25%. Shares
will be accumulated at the months lowest daily average minus 5%. You
are
not allowed to sell shares below your percentage or those not vested
for
3 years.

Shares will be initially issued by GM, later if solvent they will be
purchased off the market but for now new issues to raise cash. The
cash
will be used to finance the company. No need to rip or beg from
taxpayers like beggars and thieves. Plus, you get to own the company
and
vote for your choice of the CEO!

Solves a lot of problems for everyone.

CAW/UAW, put your money where your mouth is!
=======================

How about all executive bonuses being only in the form of ten year
deferred stock? This would make them plan 10 years ahead instead of just
as far as their quarterly or yearly bonus. If the company goes bankrupt
before the ten years, then they lose.
Just as pure democracy can have its drawbacks, pure capitalism can too.
-lm





========

The whole bonus system for Corporations indeed Crown Corporations needs to
be abolished, period.


It's not just Crown Corporations, civil servants who do not work for
C.C. also get bonuses as well as fat severance pay.
=================================

My reference was to the private sector but I certainly agree with a no bonus
policy for civil or crown.
-lm