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Firing GM's CEO is a positive step towards restructuring this critical American industry. But the Obama Administration needs to apply the same lesson to the financial sector: replace failed leadership and shepherd the industry into a new era. SEIU - Service Employees International Union
It'll be interesting to see how much influence the seemingly socialist SEIU has over this administration.
I thought private corporations always fired folks that cost them profit like unproductive employees. I guess it does not apply to the executives.
A problem with american corporations is the development of an Executive class and culture that takes care of them selves before the stock holders. We are now experiencing the results of the self serving gamblers playing with our investments in the big casino.
I thought private corporations always fired folks that cost them profit like unproductive employees. I guess it does not apply to the executives.
A problem with american corporations is the development of an Executive class and culture that takes care of them selves before the stock holders. We are now experiencing the results of the self serving gamblers playing with our investments in the big casino.
No argument with them being fired, lot's of argument with any one union or one group having the influence to tell the president what to do with private corporations.
Just like I wondered why the SEIU footed the bill for buses and such and organized the protesters outside AIG and the execs homes. What's in it for them? What's the game?
If the goal is a good housekeeping, both the executive management and union leadership need to go.
The unfairness involved so far is that the financial leaders, as well as government employees, caused the financial crisis that we are having, that in turn is crippling ALL the automakers. Yet the financial leaders make far more money and are not being "fired" by Bobo, instead they are rewarded. Add to that the auto industry is a much more complex and difficult business to manage than a freeking bank.
My other concern is that the "car club" that Bobo has put together to "help" the ailing auto industry. There is no one with any industry experience on it. To the best of my knowledge, there is no one with any engineering experience on it. Just government bearucrats and ex-investment bankers. Does anyone think relevant skills or qualifications mean anything?
If the goal is a good housekeeping, both the executive management and union leadership need to go.
The unfairness involved so far is that the financial leaders, as well as government employees, caused the financial crisis that we are having, that in turn is crippling ALL the automakers. Yet the financial leaders make far more money and are not being "fired" by Bobo, instead they are rewarded. Add to that the auto industry is a much more complex and difficult business to manage than a freeking bank.
My other concern is that the "car club" that Bobo has put together to "help" the ailing auto industry. There is no one with any industry experience on it. To the best of my knowledge, there is no one with any engineering experience on it. Just government bearucrats and ex-investment bankers. Does anyone think relevant skills or qualifications mean anything?
Obviously not, just look at who got elected, who's in the circle of economic advisors and there's your answer.
If the goal is a good housekeeping, both the executive management and union leadership need to go.
The unfairness involved so far is that the financial leaders, as well as government employees, caused the financial crisis that we are having, that in turn is crippling ALL the automakers. Yet the financial leaders make far more money and are not being "fired" by Bobo, instead they are rewarded. Add to that the auto industry is a much more complex and difficult business to manage than a freeking bank.
My other concern is that the "car club" that Bobo has put together to "help" the ailing auto industry. There is no one with any industry experience on it. To the best of my knowledge, there is no one with any engineering experience on it. Just government bearucrats and ex-investment bankers. Does anyone think relevant skills or qualifications mean anything?
Who is Bobo?
How would you go about 'helping' anyone if the system they've designed for themselves is completely dysfunctional? What about the liability of government itself who facilitated dysfunctional policy???
They put up the white flag of surrender, that 'capitalism' failed. THEY failed to abide capitalism. Obama did not do this to them. The govt has been in a devils bargain with them for how long?
Relevant skills and qualifications... Doctors administering incorrect medicine for a century can only be proven or disproven by scientific method. New systems get designed by those same doctors who administered poison. The real problem we have in rewriting policy is to make sure it does not favor charlatansim over the spirit of the law and best business practices.
Banking know how does not come from a book exclusively. To be able to obtain skills in economics, you have to aquire experience. Partake in the systemic poisoning... there is no investor, banker, actuary, et al, who is above culpability. So who is qualified to advise????
Quit blaming the cops for the crime. When they attempt to author new laws that favor dysfunction, that's the time to pitch a fit.
Firing GM's CEO is a positive step towards restructuring this critical American industry. But the Obama Administration needs to apply the same lesson to the financial sector: replace failed leadership and shepherd the industry into a new era. SEIU - Service Employees International Union
It'll be interesting to see how much influence the seemingly socialist SEIU has over this administration.
Capitalist rules applying to CEO's as well as every employee of Lehman brothers... you either perform, or you fail. AIG execs failing to achieve goals will result in firing. To my knowledge they're in the process of achieving those goals. There is a good possibility they'll need to be restructured because too big to fail is clearly an anti trust issue. The executives and shareholders taking this by the bull horns directly is best, but if they mean to lay down and die as if helpless, govt WILL manage it directly for them in Nanny fashion. BE a capitalist, or die. ^5 Ford motor company.
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