Let Cerberus fix Chrysler Not The Taxpayers???

Essaress ; Prior of the F.C.F.J., said...

Little Bobbie Nardelli is gonna get his golden parachute though, you betcha!!!
My Spouse worked for Home Depot for years before Bo-Bo-Bobbie took the helm...before, it was a wonderful company...after (and after he stuffed the board with his placeholder proxies) it was a thoughtless jerk of an immature drunken teen age boy.
His policies caused the company to lose and lose and lose value until the board it self asked him to leave...but he got paid millions first.. (around twenty to be approximate)

NOW he heads up Chrysler??? WTF??

I want a place in society where no matter HOW BADLY I screw up, or HOW POOR MY JOB PERFORMANCE is ...I still get paid mega bucks...
But I guess I would have to make some kind of deal with a three headed dog from hell first...huh???

5:12 PM PST
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Blogger Essaress ; Prior of the F.C.F.J., said...

And BTW but sorta off topic... Did any notice that the day before yesterday Gm had it's finance division given "Bank" status by the FED??? So, really they will get more money now than they were asking for and it will be with absolutely no strings attached....

6:21 PM PST
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Blogger Cookie Jill said...

John Snow was really pushing for that GMAC bank status think. Cerberus owns part of GMAC. Personally, what these CEOs have done to the Country I would consider TREASONOUS.

7:53 PM PST
Blogger Essaress ; Prior of the F.C.F.J., said...

Amen ..

8:54 PM PST
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Blogger Jack K. said...

...as a fairly with-it gearhead car guy, I strongly suspected that the ultimate demise of Chrysler was written back when Daimler-Benz became majority owner in 1998. Daimler's sale of its majority shareholding to Cerberus wasn't anything other than the sealing of the fate of the company we all used to lump under the old 'MOPAR' label back when it was the Chrysler Corporation...

The time of the Duster, the Super Bee, and the Charger Daytona is long gone, and the time of what we used to know as the Chrysler Corporation may well follow those marque models down the memory hole...

9:27 PM PST
Blogger Essaress ; Prior of the F.C.F.J., said...

I really do not disagree with you Jack...it makes me ask though..."IF" the CEO's and the Boards Of Directors are not the real culprits, if their contributions are not major and in fact very interjacent of success versus utter failure...then what the hell justifies the outrageous pay that these a-holes routinely draw???
If compensation is not comensurate to skill and ability then they are twice guilty of malfeasance AND gross negligence as well as intentionally driving the corporations overseen by them into some sort of crisis just so that their "friends" can come and suck the bones of the now dying entity...
If compensation is NOT tied to ability...then we absolutely are witnessing grand and large scale theft.. legally to be sure (thanks to lobbyists and a willing congress egged on by the visions of sugar coated nothing jobs with those lobbying firm or CEO status or at least board memberships), but theft nonetheless...
And Jack that makes me sad and angry and more than slightly impotent as to direction of action that I could take... I have no wish to see those firms die... But it seems that my wishes matter less than my blogging...
Wealth is the Big Voice here....

10:06 PM PST