" wrote in message
...
On Nov 17, 8:28 pm, "Canuck57" wrote:
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!
So 57 what would you have them do for this bunch?
http://www.theglobeandmail.com/servl..._gam_mostemail
I see no reason to bail them out.
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Just recently when the Canadian dollar was at par and even exceeded the US
dollar, the car dealers in Canada were still selling vehicles at the old
rate of approx 25% higher than US prices. They didn't drop their prices
until shamed into doing so...and the Toyota/Subaru people only dropped about
half the difference.
At this point, with the Canadian dollar sinking, the prices would be roughly
in line.
They were screwing us for about a year...so I say screw them. Enough with
the handouts.