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GM Solution that will work, send it to your MP
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! |
GM Solution that will work, send it to your MP
"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! I like it. |
GM Solution that will work, send it to your MP
"Calif Bill" wrote in message m... "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! I like it. Send it to your senator, congressman or MP..... Lets not let main street get screwed for UAW/CAW. Time they did something other than whine. I don't see others getting bailed out. What makes UAW/CAW so sacred. Ford and Chrysler can pick up the slack and save more of their people. |
GM Solution that will work, send it to your MP
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! The company, board of directors, will still be able to vote down any proposal by the employees due to the BOD voting the company owned shares. |
GM Solution that will work, send it to your MP
"BAR" wrote in message ... 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! The company, board of directors, will still be able to vote down any proposal by the employees due to the BOD voting the company owned shares. Hey, if the union had a spine they have management by the curlies. Seriously. If they are selling 3% of Suzuki for 3 days of operating cash flow I would say they are about as open as they will get. Call up the board of directors, come with a decent in the guts and super serious plan sparing nothing. Don't waste their time with meatball politics. They will look at page one and if they don't see a huge turn around they will not get to page 2. Hint, $2/hr isn't going to cut it. Oh I know the union line, no my job. Guess what, it is very much your job to assure who you work for is financially healthy. Either that or pass the job to someone who cares. |
GM Solution that will work, send it to your MP
On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? Isn't that communism? |
GM Solution that will work, send it to your MP
wrote in message t... On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? Isn't that communism? Nope. Not at all. Some very successful companies have many employees financially involved it its well being. Which is precisely GMs problem, making them shareholders diffuses 30 years of union rant. For example, say people are not buying a model of car. Having 1600 plant employees hammering on invested management is going to see change quickly and decisively. For it they don't they too loose. Nice motivation. But if they are successful, $3 becomes $6 becomes $60.... And most importantly, turn their brains back on how capitalism is supposed to really work. But then again, the only thing UAW/CAW wants is a free lunch on the rest of us. Change? Why change? Just like deer looking into headlights. No consideration at all on who bails out the many more thousands who have lost jobs, just a me-me attitude of selfishness. Tax then for us attitude is just ludicrous. Buzz Hargrove knew when to save his ass. Bet he locked in his pension before Chrysler "adjusts" it. http://en.wikipedia.org/wiki/Buzz_Hargrove Socialists do eat their young, just remove capitalist to find out. |
GM Solution that will work, send it to your MP
wrote in message t... On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? Isn't that communism? Of course not. Think UPS Think Harley-Davidson. There are several more examples I can't think of at the moment. I was going to try it with the company I owned prior to the unexpected, surprise offer of acquisition by another company. The idea was an employee buyout, over time, at a price that now, as I reflect back, was incredibly cheap. I would have been paid out over a 10-15 year period that would help fund my retirement. I turned the "keys" over to a young, smart guy (this wasn't my son ... he came later) who wanted to run the company in the future. After three months, he handed the keys back and said he didn't realize the time and stress requirements of the job. It was understandable. He had a young family, two small kids, and the demands of the job takes it's toll on the family. In the case of Harley, the employee buyout from Brunswick is what transformed it back to being a profitable company. The quality of the bikes also improved dramatically. Eisboch |
GM Solution that will work, send it to your MP
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! What was that Tom Hanks movie about a US car maker being taken over by a Japanese outfit? Seriously, this is finally a good idea on your part and it should be part of every company large and small. The only problem I can see is gettingover the "Us Them" mentality that goes way back to the 30's during strike breaking. You'd have to look at some way of resolving that. CAW/UAW is not the problem, only a symptom. The problem is the GM corporate culture as well as American corporate culture. As Canadian, we can't even start to toss money at GM until we know which way th eUS is going to go. We'd be better off tossing money at Toyota and the other non-NA manufacturers. |
GM Solution that will work, send it to your MP
"Eisboch" wrote in message ... wrote in message t... On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? Isn't that communism? Of course not. Think UPS Think Harley-Davidson. There are several more examples I can't think of at the moment. I was going to try it with the company I owned prior to the unexpected, surprise offer of acquisition by another company. The idea was an employee buyout, over time, at a price that now, as I reflect back, was incredibly cheap. I would have been paid out over a 10-15 year period that would help fund my retirement. I turned the "keys" over to a young, smart guy (this wasn't my son ... he came later) who wanted to run the company in the future. After three months, he handed the keys back and said he didn't realize the time and stress requirements of the job. It was understandable. He had a young family, two small kids, and the demands of the job takes it's toll on the family. In the case of Harley, the employee buyout from Brunswick is what transformed it back to being a profitable company. The quality of the bikes also improved dramatically. Eisboch ==================== Excellent way to go and maybe the only way for the future. Isn't Canwest in this picture too. I'm sure there's many more but you can bet the CEOs will fight it to the end unless the government forces it on them. As the next poster mentions , the old them/us mentality can be a problem but once your paycheck is tied to your input, that mentality can change quickly. The strike should be a relic of the past, it can be damaging to both the employee and/or the company. The auto industry is where it's at because of strong unions as well as bad management. As owners , workers will have an option vote to just having a strike vote. Now the workers can lose everything including their pensions, so there has to be a better way than handing out million dollar bonuses to non-performing CEOs., while the paychecks and the pensions goes down the drain. I'm a firm believer that the best ideas can most often come from the shop floor and not the boardroom. |
GM Solution that will work, send it to your MP
On Nov 18, 8:07*am, "Len McLaughlin" wrote:
"Eisboch" wrote in message ... wrote in message et... On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? *Isn't that communism? Of course not. Think UPS Think Harley-Davidson. There are several more examples I can't think of at the moment. I was going to try it with the company I owned prior to the unexpected, surprise offer of acquisition by another company. The idea was an employee buyout, over time, at a price that now, as I reflect back, was incredibly cheap. I would have been paid out over a 10-15 year period that would help fund my retirement. I turned the "keys" over to a young, smart guy (this wasn't my son ... he came later) *who wanted to run the company in the future. After three months, he handed the keys back and said he didn't realize the time and stress requirements of the job. It was understandable. *He had a young family, two small kids, and the demands of the job takes it's toll on the family. In the case of Harley, the employee buyout from Brunswick is what transformed it back to being a profitable company. The quality of the bikes also improved dramatically. Eisboch ==================== Excellent way to go and maybe the only way for the future. Isn't Canwest in this picture too. *I'm sure there's many more but you can bet the CEOs will fight it to the end unless the government forces it on them. As the next poster mentions , the old them/us mentality can be *a problem but once your paycheck is tied to your input, that mentality can change quickly. The strike should be a relic of the past, it can be damaging to both the employee and/or the company. The auto industry is where it's at because of strong unions as well as bad management. *As owners , workers will have an option vote to just having a strike vote. Now the workers can lose everything including their pensions, so there has to be a better way than handing out million dollar bonuses to non-performing CEOs., while the *paychecks *and the pensions goes down the drain. I'm a firm believer that the best ideas can most often come from the shop floor and not the boardroom. It would be interesting to see if the companies and the unions would agree to say a 20%-25% wage reduction and freeze at that level for say a 30% total share in the company, making the union the largest share holder. The union would them be responsible for providing best trained labour for the joint enterprise. |
GM Solution that will work, send it to your MP
On Mon, 17 Nov 2008 22:17:33 -0500, BAR wrote:
No need to rip or beg from taxpayers like beggars and thieves No. Rip off the shareholders, especially the widows and orphans. Casady |
GM Solution that will work, send it to your MP
Richard Casady wrote:
On Mon, 17 Nov 2008 22:17:33 -0500, BAR wrote: No need to rip or beg from taxpayers like beggars and thieves No. Rip off the shareholders, especially the widows and orphans. Casady The share holders bought into the risk. We didn't |
GM Solution that will work, send it to your MP
"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! What you're suggesting is socializing the ownership of GM. It's not full-on Marxism, but basically the same thing. In this case the employees are not the problem but are expected to provide the solution. This is typical of what is happening eveywhe non-owners involuntarily forced into becoming investors in banks and auto manufacturers, whether it be taxpayers or GM employees. How much longer is socialism going to have to support the capitalists and "free" markets? |
GM Solution that will work, send it to your MP
"Canuck57" wrote in message
... wrote in message t... On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? Isn't that communism? Nope. Not at all. Some very successful companies have many employees financially involved it its well being. Which is precisely GMs problem, making them shareholders diffuses 30 years of union rant. That's fine if the financial involvement is voluntary. Mandatory investment by workers is essentially socializing ownership - the same principles as Marxism. 100% employee-owned businesses generally do well. That is because as owners, if they want to exploit and mismanage the company, they are only exploiting and mismanaging themselves. There is a direct realtionship for financial reward, such as performing well, rather than getting rewarded whether the company is failing or succeeding (the norm for today's executives). However, even if employees flocked together to buy some of GM, as a class they would still be in a minority position. Why would anyone allow a minority shareholder to call the shots? It just doesn't work that way. |
GM Solution that will work, send it to your MP
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GM Solution that will work, send it to your MP
On Nov 18, 1:27*pm, (Richard Casady)
wrote: On Mon, 17 Nov 2008 22:58:02 -0600, wrote: On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? *Isn't that communism? * The company logo of the Chicago&Northwestern railroad said "Employee Owned" I always figure they had raided the pension fund. Casady Screw the unions.. My wife just called from Motor Vehicle in Enfield. They have been on a work slow down for a couple of years now. I was in Old Saybrook this morning, they moved 15 people in front of me in about 12 minutes with three to four windows. As usual, my wife just called me from Enfield and they have moved 10 people in 1 hour, with 4 - 5 windows but says they are taking breaks after every person... Bull****, they aren't worth 10 cents an hour... |
GM Solution that will work, send it to your MP
On Nov 18, 1:38*pm, wrote:
On Nov 18, 1:27*pm, (Richard Casady) wrote: On Mon, 17 Nov 2008 22:58:02 -0600, wrote: On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? *Isn't that communism? * The company logo of the Chicago&Northwestern railroad said "Employee Owned" I always figure they had raided the pension fund. Casady Screw the unions.. My wife just called from Motor Vehicle in Enfield. They have been on a work slow down for a couple of years now. I was in Old Saybrook this morning, they moved 15 people in front of me in about 12 minutes with three to four windows. As usual, my wife just called me from Enfield and they have moved 10 people in 1 hour, with 4 - 5 windows but says they are taking breaks after every person... Bull****, they aren't worth 10 cents an hour... This is nuts.. Just like the last time I was in there. Most MV's in the state can move folks through a typical re-registration in less than 5 minutes.. In Enfield, the average the last two times, and today is 20 minutes per person in line. The typical re-registration consists of filling in 6 boxes on a form, and paying the person behind the counter.. Those people aren't worth crap... Let the Unions rot, make them all work or go home... |
GM Solution that will work, send it to your MP
"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 |
GM Solution that will work, send it to your MP
"Chom Noamsky" wrote in message news:AJDUk.1538$o15.781@edtnps83... "Canuck57" wrote in message ... wrote in message t... On Mon, 17 Nov 2008 18:28:18 -0700, 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. Workers owning the company? Isn't that communism? Nope. Not at all. Some very successful companies have many employees financially involved it its well being. Which is precisely GMs problem, making them shareholders diffuses 30 years of union rant. That's fine if the financial involvement is voluntary. Mandatory investment by workers is essentially socializing ownership - the same principles as Marxism. 100% employee-owned businesses generally do well. That is because as owners, if they want to exploit and mismanage the company, they are only exploiting and mismanaging themselves. There is a direct realtionship for financial reward, such as performing well, rather than getting rewarded whether the company is failing or succeeding (the norm for today's executives). However, even if employees flocked together to buy some of GM, as a class they would still be in a minority position. Why would anyone allow a minority shareholder to call the shots? It just doesn't work that way. Limp excuses. I guess then CAW doesn't want the jobs. The government is just starting to realize how many people are being laid off from other than CAW (Canadian Auto ******) as they get this from EI registration. They have the civil service white as a sheet. I even know of a company you least expect preparing year end severances for thousands. We actually might clock the year out at better than 10% unemployed if GM keeps working! Even government revenue is plummeting. Yes, the government is worried for their own CUPE asses!! Now the amount of money to bail out a GM employee is really about $2 million dollars each with wages, debt, liabilities and pensions etc. EI is maybe $15k, you do the math. GM is really to a point where they have to go down. Even the US government where a trillion is trivial is touching this turkey. Who do you think is going to win, CUPE or CAW?? LOL. Going to be fun to watch. Investors will not be paying taxes this year. Most companies will not. With spending halted (GST/excise) and gasoline down, unemployment skyrocking with income taxes collected plummeting.... Bet the government is in about a 30 billion a year shortfall in burn rate right now if it was annualized. The CN Tower isn't for sale because this is a good time to sell. And even Ottawa can't get credit. LOL. |
GM Solution that will work, send it to your MP
"Richard Casady" wrote in message ... On Mon, 17 Nov 2008 22:17:33 -0500, BAR wrote: No need to rip or beg from taxpayers like beggars and thieves No. Rip off the shareholders, especially the widows and orphans. Casady I am thinking about time to exit the US market. Any thoughts on good long term places to be these days? I was thinking South America. |
GM Solution that will work, send it to your MP
"Jim" wrote in message ... Richard Casady wrote: On Mon, 17 Nov 2008 22:17:33 -0500, BAR wrote: No need to rip or beg from taxpayers like beggars and thieves No. Rip off the shareholders, especially the widows and orphans. Casady The share holders bought into the risk. We didn't For GM, yes. I agree. For bank stock holders I agree. So what if any or all of them go bankrupt? They are in fact bankrupt! If the government is serious about getting the economy going they need only do just 3 things. 1) Ignore bail out whiners. Simply turn them away. No more government money for banks, GM or anyone else. Only the insured bank accounts and that is it. People need to look after themselves and read the Three Pigs. Save for a rainy day. Become more self sufficient and no look to pick the pockets of others for a living. 2) Whack taxes leaving more in the middle class working persons pocket. The tax reduction is targets straight to the middle class taxpayers. This infusion of hard currency is needed so they can pay mortgages and buy stuff and real long term stimulus. No $300 quick fix here girls and boys. 3) Whack the spending in government and don't print or borrow more money. Government has to downsize to fit. Start paying down debt not with currency credit (print money) but with real currency. Yes, this probably means 1/2 the size it is now. 20 years of debt and print now demand payment. People will have to start paying their debts or this will go further down the hole than 1929. And I figure if government does not put it's credit card away long before Christmas, 1929 will look like good times. By the time this is over being a debtor not paying your bills will revert to the old ways. Servitude until it is paid. |
GM Solution that will work, send it to your MP
"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. |
GM Solution that will work, send it to your MP
In message beCUk.1513$o15.959@edtnps83 "Chom Noamsky"
was claimed to have wrote: How much longer is socialism going to have to support the capitalists and "free" markets? Capitalism handles this situation nicely, when a company gets too inefficient it gets replaced either by more efficient competition and it modifies it's own behaviour or implodes under it's own weight. The bail-outs are the problem because they unfairly allow an inefficient company to continue to operate. Socialism can be made to work, the problem is controlling greed. Capitalism can be made to work, the problem is avoiding socialism. People get hurt in both systems, the trick is to find the middle ground to avoid too many people getting hurt at once. In this respect certain things in a capitalist society need to be regulated, banking, insurance, infrastructure, education, courts, safety and defense (both national defense and police), and probably a few others. The type of regulation can vary, for things like health, a crown corporation is likely to be effective. Private hospitals can't get away with charging $7,000/day if a crown hospital charges $100/day and you can bet that private insurance will pay a maximum of crown payouts. You can solve the problem of needing qualified doctors (and other medical staff) by having the gov't fund the student loans and then letting doctors work off their loan in crown hospitals and faculties while paying them a reasonable wage at the same time. The only case where you really need to nationalize is infrastructure, police, courts, and defense. Capitalism isn't capable of managing natural monopolies, so you generally need to nationalize those. You need some degree of safety, and you really don't want a private police or court system as they simply have too much power. The problem today is that for whatever reason we're not willing to let capitalism prune the massively inefficient wasteful companies and instead feel the need to maintain them in their inefficient state. |
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In message AJDUk.1538$o15.781@edtnps83 "Chom Noamsky"
was claimed to have wrote: That's fine if the financial involvement is voluntary. Mandatory investment by workers is essentially socializing ownership - the same principles as Marxism. Is a bail-out not equally socialist? 100% employee-owned businesses generally do well. That is because as owners, if they want to exploit and mismanage the company, they are only exploiting and mismanaging themselves. People still want to exploit and mismanage the company to their own benefit. What going employee-owned does is put into action the best feature of capitalism, self-interest. Not every employee can exploit the company at the same time, there simply isn't enough company to go around and if you try everyone loses. Rather then just exploiting "the company" that everyone hates, you're exploiting your coworkers directly, which means each and every coworker has an incentive to say "Is 'x' good for the company?" There is a direct realtionship for financial reward, such as performing well, rather than getting rewarded whether the company is failing or succeeding (the norm for today's executives). Yeah, this one needs to be fixed in general. Executives pay should be solely driven by the profit a company generates, just like that of the owners. Forcing executives to be owners helps. However, even if employees flocked together to buy some of GM, as a class they would still be in a minority position. Why would anyone allow a minority shareholder to call the shots? It just doesn't work that way. Even if they're ultimately a minority, if the union as a class becomes the single largest shareholder then they have a ton of voting power. |
GM Solution that will work, send it to your MP
"E. Barry Bruyea" wrote in message ... 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 |
GM Solution that will work, send it to your MP
"DevilsPGD" wrote in message ... In message beCUk.1513$o15.959@edtnps83 "Chom Noamsky" was claimed to have wrote: How much longer is socialism going to have to support the capitalists and "free" markets? Capitalism handles this situation nicely, when a company gets too inefficient it gets replaced either by more efficient competition and it modifies it's own behaviour or implodes under it's own weight. ==================== Where a lot of this logic fails is when you have monopolies so large that their failure can take much of the economy with them. The biggest enemy of capitalism or socialism are the "monopolies." -lm The bail-outs are the problem because they unfairly allow an inefficient company to continue to operate. Socialism can be made to work, the problem is controlling greed. Capitalism can be made to work, the problem is avoiding socialism. People get hurt in both systems, the trick is to find the middle ground to avoid too many people getting hurt at once. In this respect certain things in a capitalist society need to be regulated, banking, insurance, infrastructure, education, courts, safety and defense (both national defense and police), and probably a few others. The type of regulation can vary, for things like health, a crown corporation is likely to be effective. Private hospitals can't get away with charging $7,000/day if a crown hospital charges $100/day and you can bet that private insurance will pay a maximum of crown payouts. You can solve the problem of needing qualified doctors (and other medical staff) by having the gov't fund the student loans and then letting doctors work off their loan in crown hospitals and faculties while paying them a reasonable wage at the same time. The only case where you really need to nationalize is infrastructure, police, courts, and defense. Capitalism isn't capable of managing natural monopolies, so you generally need to nationalize those. You need some degree of safety, and you really don't want a private police or court system as they simply have too much power. The problem today is that for whatever reason we're not willing to let capitalism prune the massively inefficient wasteful companies and instead feel the need to maintain them in their inefficient state. |
GM Solution that will work, send it to your MP
On Nov 19, 3:18*am, DevilsPGD wrote:
The problem today is that for whatever reason we're not willing to let capitalism prune the massively inefficient wasteful companies and instead feel the need to maintain them in their inefficient state. well that depends. if EVERY company is doing the same thing...such as credit swaps...and EVERY company is at risk how does the market handle this? and if a company is much too big to be allowed to fail, how does the market handle that? as the saying goes, 'if you owe the bank $1000 you have a problem; if you owe the bank $1M the bank has a problem'. |
GM Solution that will work, send it to your MP
On Wed, 19 Nov 2008 05:58:49 -0800, wf3h wrote:
and if a company is much too big to be allowed to fail, how does the market handle that? Simple, don't allow them to get to big to fail. Anti-trust, anyone? |
GM Solution that will work, send it to your MP
|
GM Solution that will work, send it to your MP
"wf3h" wrote in message ... On Nov 19, 3:18 am, DevilsPGD wrote: The problem today is that for whatever reason we're not willing to let capitalism prune the massively inefficient wasteful companies and instead feel the need to maintain them in their inefficient state. well that depends. if EVERY company is doing the same thing...such as credit swaps...and EVERY company is at risk how does the market handle this? and if a company is much too big to be allowed to fail, how does the market handle that? as the saying goes, 'if you owe the bank $1000 you have a problem; if you owe the bank $1M the bank has a problem'. ======= Well said. |
GM Solution that will work, send it to your MP
"DevilsPGD" wrote in message
... In message beCUk.1513$o15.959@edtnps83 "Chom Noamsky" was claimed to have wrote: How much longer is socialism going to have to support the capitalists and "free" markets? Capitalism handles this situation nicely, when a company gets too inefficient it gets replaced either by more efficient competition and it modifies it's own behaviour or implodes under it's own weight. That's fine and all but the process of adapting or imploding takes time. In the meantime there are about 500,000 jobs that depend on the industry. When a single industry employs that many people and becomes such a major economic cornerstone, losing it is not an option. It needs to be fixed and made competitive again without losing the jobs or the industry. The bail-outs are the problem because they unfairly allow an inefficient company to continue to operate. How did it get to this point? These companies have a lot of lobby clout. While the competition was gearing up for $100/bbl oil, the domestics were lobbying Washington or Ottawa for relaxed fuel and emissions standards. They did this so they could keep the marketability of SUVs and trucks up, which on average are 4x more profitable than economy cars. They were gambling on the price of fuel staying down to keep their vehicles marketable, but it didn't and they got caught. Socialism can be made to work, the problem is controlling greed. Capitalism can be made to work, the problem is avoiding socialism. Greed on Wall Street is what caused this recession. That's because a certain amount of regulation is needed to stop the pigs from gobbling and cheating. The right-wing agenda for the last 25 years has been deregulation. This is the culmination of their efforts. People get hurt in both systems, the trick is to find the middle ground to avoid too many people getting hurt at once. In this respect certain things in a capitalist society need to be regulated, banking, insurance, infrastructure, education, courts, safety and defense (both national defense and police), and probably a few others. I've always believed in regulated capitalism. It's when the playing field get slanted on way or another that the trouble starts. If the playing field is kept level then the competition is genuine. The type of regulation can vary, for things like health, a crown corporation is likely to be effective. Private hospitals can't get away with charging $7,000/day if a crown hospital charges $100/day and you can bet that private insurance will pay a maximum of crown payouts. You can solve the problem of needing qualified doctors (and other medical staff) by having the gov't fund the student loans and then letting doctors work off their loan in crown hospitals and faculties while paying them a reasonable wage at the same time. The local NDP candidate suggested the same thing about forgiving doctor's student loans if they contract to stay in Canada for a minimum of three years. I suppose that would be a solution, but doesn't that amount to favouritism? Why not everyone else who has a student loan? Just because someone chose to become a geologist or an engineer shouldn't determine how nicely government treats them. What they could do is stop capping MSP billings or increase the caps. That means doctors who want to work harder could earn more. The local GPs I know can only make up to $100,000, the caps won't let them bill more no matter how hard they work. It's inefficient because it doesn't utilize doctors to the maximum potential. The only case where you really need to nationalize is infrastructure, police, courts, and defense. Capitalism isn't capable of managing natural monopolies, so you generally need to nationalize those. You need some degree of safety, and you really don't want a private police or court system as they simply have too much power. The problem today is that for whatever reason we're not willing to let capitalism prune the massively inefficient wasteful companies and instead feel the need to maintain them in their inefficient state. Explain that to the people (aka voter) whose livelyhood goes down the tubes with that pruning. |
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wrote in message t... On Wed, 19 Nov 2008 05:58:49 -0800, wf3h wrote: and if a company is much too big to be allowed to fail, how does the market handle that? Simple, don't allow them to get to big to fail. Anti-trust, anyone? Anti-trust is certainly part of it. But GM is no longer too big to fail, they haven't been for a long time. Toyota is now larger. There are also many more large competitors. There are also at least five other companies in north American manufacturing plants that are about to lay people off as the industry has far more capacity than the market will support. GM going down will give them more reasons to keep their people. So say you are Ford or Chrysler CAW/UAW, you should be ripping the heads off of the union for trying to keep GM afloat as if GM produces government subsidised cars, then how are others to compete? Hint, they will layoff more at Ford, Chrysler, Nissan, Toyota and Honda. So GM going down, no problem. If the governments don't ail them out I predict the markets will like this. If they bail GM, look out. If they bail GM, are they going to extend it to the other millions also laid off? Doubtful. Unions are nothing more than noisy greedy slugs in expecting government to bail them out. |
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"Boater" wrote in message ... wrote: On Wed, 19 Nov 2008 05:58:49 -0800, wf3h wrote: and if a company is much too big to be allowed to fail, how does the market handle that? Simple, don't allow them to get to big to fail. Anti-trust, anyone? But...that would require a DoJ not packed with corporate buddies... Agreed. Microsoft is a good example. If Toyota was in trouble, even though they employ many north Americans was in trouble, does anyone think they would even get to talk to congress? The reason Toyota is supportive is simple, government support is welcome. If they don't get a cut they scream anti-trust and anti-competitive and go to court. If they get it, more profit as unlike GM, Toyota has no problem making money for it's shareholders. |
GM Solution that will work, send it to your MP
"Chom Noamsky" wrote in message news:Gn%Uk.1742$jr4.1092@edtnps82... That's fine and all but the process of adapting or imploding takes time. In the meantime there are about 500,000 jobs that depend on the industry. When a single industry employs that many people and becomes such a major economic cornerstone, losing it is not an option. It needs to be fixed and made competitive again without losing the jobs or the industry. How much of the industry is GM? Maybe 20%. Banks took a deeper cut. GM's turn. Now one is bailing banks or the little layoffs going on all the time. I even know companies that lay off 49 per month so they don't have to report it! Who is helping them out? GM, greedy turds need to go down on principle. I am sure Ford, Chrysler, Nissan, Toyota and Honda can pick up the slack as the industry right sizes. |
GM Solution that will work, send it to your MP
"Len McLaughlin" wrote in message ... "E. Barry Bruyea" wrote in message ... 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 They get a huge bonus compared to private sector. - 20% or more pay for the same work/skill. - not as many years needed for full retirement - no real comparative threat of layoff for failure - awful hard to get fired and next to imposible to get laid off. - 2 hours real work a day, you are an over achiever - indexed pension, much more generious than anywhere else - benefits like dental, much more generous than anywhere else - loads of vacation - insider stock tips (Goodale for example) when Canadian government tinkers with the market. |
GM Solution that will work, send it to your MP
On Nov 19, 8:17*pm, "Canuck57" wrote:
"Len McLaughlin" wrote in message ... "E. Barry Bruyea" wrote in message .. . 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 They get a huge bonus compared to private sector. - 20% or more pay for the same work/skill. - not as many years needed for full retirement - no real comparative threat of layoff for failure - awful hard to get fired and next to imposible to get laid off. - 2 hours real work a day, you are an over achiever - indexed pension, much more generious than anywhere else - benefits like dental, much more generous than anywhere else - loads of vacation - insider stock tips (Goodale for example) when Canadian government tinkers with the market.- Hide quoted text - - Show quoted text - Two hours of work a day will get you in trouble with the Union.. They need at least 5 folks paying dues for each manhour... |
GM Solution that will work, send it to your MP
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. |
GM Solution that will work, send it to your MP
" 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. ---------------------------------------------------------------------------------- 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. |
GM Solution that will work, send it to your MP
" 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. ---- The same ones selling Canadian built cars up to 20% more than US dealers were selling in the USA when the dollar was at par? Same thing. Tell the ******s to prep their resumes and look for a job. One good thing about all of this, is government can't support them all before the government itself goes bankrupt. Today the markets mid afternoon took a sharp turn up (good sign), right after rumours leaded that congress has no time or money for GM... |
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