With massive unemployment, a company that just went into bankruptcy, and plants lcosing left and right, how does GM decide to move forward as a company? By paying its ex-CEO a $10,000,000 retirement, of course. The guy was making millions a year for decades, couldn't he have been expected to save some in a retirement vehicle like the rest of us schmucks? It's very unfortunate as that ten million dollars could have employed over 150 people at 65,000 a year. That could have paid for an entire department to maybe discover why the Aztek was such a horrible idea, or maybe look into ways to not make vehicles which get reasonable gas mileage.
What is missing in all of these stories about the ridiculous pay going to these bigshots is the opportunity cost of the money. By paying out millions while the company is faltering, that money is not going to invest in the technology and manpower needed to produce the new products which will return the company to greatness. Instead, it goes to buy a fifth car and a seventh mansion in Montauk. I guess it does stimulate the polo equipment market as well as the diamond dog collar industry.
Make it go away
No comments:
Post a Comment