: Letter to the Austin American-Statesman newspaper about GM



stevec5375
12-17-10, 08:01 PM
I saw this interesting letter to our major local paper today. Thought I would share it.


GM executives

Re: Dec. 11 Business Digest item "Federal pay limits handicap company, GM executive says."

GM's top executive needs to understand it has been just over a year since the company asked the American taxpayer to bail it out from many years of bad business decisions and greed. The ink is hardly dry on the New GM initial public offering.

During this time, with the help of our government, GM also threw its investors and bond holders under the bus plus numerous mom-and pop dealerships.

With that said, and with the debt now lifted off of the executives' shoulders, if they still cannot compete, they need to look at themselves. Compensation should be based on results even for our leaders. Make it happen with what you have, and stop the whining. Try taking pride in your work.

I have owned GM vehicles since 1964; I will own no more. I am an ex-bond holder.

Larry Terrell

Round Rock

RAB
12-17-10, 10:08 PM
In my having worked for GM for 21 years (a significant portion of my working career)... I can tell you that in addition to GM's historic and still omnipresent arrogant approach & attitude in virtually everything they do... General Motors has spent, and continues to spend, an extraordinarily inordinate amount of time doing business with themselves. This overall attitude and behavior is ingrained in their DNA. Unfortunately.
Understand this and you'll begin to 'get' GM.
Having said all that.. I still like a few vehicles GM builds.

TheCaptain
12-18-10, 11:28 AM
Yea, GM's biggest downfall is that they do have that "we are the best" attitude, but it also works for them sometimes too.

Ponyman
12-19-10, 04:27 PM
Their products are definetly getting better. Do they still have work to do? Of course, nothing is perfect. I personally can't see the people on this board that continually compare GM cars to those they percieve as better. If you think they are better, why didn't you buy it, and why don't you go buy it and make yourself happy? Life is too short.

GMJim
12-19-10, 05:33 PM
Geeze, maybe the dude should read his own paper.
We have repayed billions to the tax payers.
Paid billions to the pension fund.
Having a banner year as far as sales.
Motor Trend Car & Truck of the year.
on, and on, and on...........

We do suck.

Ponyman
12-19-10, 05:57 PM
You suck so much that we are looking at maybe a new Camaro convertible next spring, and definetly a new 12 Avalanche to replace our 07 before they quit making them.

GMJim
12-19-10, 07:09 PM
It sucks to suck so much

jcarlilesiu
12-20-10, 11:52 PM
Jim,

I am not one to jump on the bandwagon bashing GM, but the fact remains that many people were opposed to the bailout. Though I hope GM prevails, the fact that the government stepped in is not really something I or a lot of people support. In my eyes, GM going bankrupt does nothing else but open up a huge demand market for new companies to get in. That isn't necessarily a bad thing, and a lot of times helps to introduce new blood to the market.

We understand that GM has had a good year. Good for them.

Yet, a little humble pie is still in order... for a while at a minimum.

Jake

stevec5375
12-21-10, 09:21 AM
Jim,

I am not one to jump on the bandwagon bashing GM, but the fact remains that many people were opposed to the bailout. Though I hope GM prevails, the fact that the government stepped in is not really something I or a lot of people support. In my eyes, GM going bankrupt does nothing else but open up a huge demand market for new companies to get in. That isn't necessarily a bad thing, and a lot of times helps to introduce new blood to the market.

We understand that GM has had a good year. Good for them.

Yet, a little humble pie is still in order... for a while at a minimum.

Jake


Jake, I agree with you on this. I think corporate executives are very much over-compensated. Sadly, if the government had not bailed out GM execs for their bad decisions, a lot of good, hard-working people would have been out of work adding to an already-burgeoning unemployment figure. However, in a true capitalistic society, they would have gone under. GM is yet another example of how the rich continue to get richer on the backs of the middle class. Even their corporate screw up didn't cost them very much.

I had been driving my Infiniti for 10 years when I decided it was time for a change. I had my sights set on an Acura MDX and did not even know the new SRX existed since I had no intention of buying a domestic car (based on previous horror stories from my past). But when I saw the SRX, I said, "This is a Cadillac?" It didn't look anything like the typical living-room-on-wheels I'd come to see as Cadillac. I plopped down cash and got exactly what I wanted.

As a taxpayer who helped bail out a failing company and a paying customer, I expect them to bend over backwards when I have a problem and not scratch their head and tell me they have no idea what's wrong.

Marc NY
12-21-10, 06:31 PM
Having worked for GM almost 40 years now I been through a lot and seen a lot. Thank goodness for the taxpayers who loaned GM the money for GM will survive and become a much stronger, leaner and focused company who will repay all those loans back.

I too have personally lost tons of money in the bankruptcy and I am not happy about it either. However, I am a firm believer that with fewer brands GM can focus all their efforts and concentrate on getting it done right.

GM has many World Class vehicles that I would consider buying... I just don't have enough money or room in my garage to keep them all.

Ponyman
12-21-10, 08:26 PM
I agree 120% Many at GM lost their jobs in the reorganization and downsizing of brands. How many more would have lost their jobs, pensions, insurance etc. Many many thousands if you include all the parts suppliers and other support industries. They are making much better and desirable vehicles. I like you don't have the room for all of them I would want. STS-V, SS Camaro, Z-71 Avalanche, Corvette, among others. We have room for three vehicles. Presently we have an 09 HHR, 07 Avalanche, and 10 SRx. If we do get a Camaro convertible, and replace my Avalanche at the end of it's run, that leaves one vehicle too many. My wife floored me the other day when she said she was thinking about getting rid of the SRX if we purchase a convertible. She loves traveling in the Avalanche, and after being rear ended in it a couple of yeara ago, she feels much safer in it than anything we own. The HHR is my work car, and although I offered to drive the Avalanche to work, she said that the Camero would be her sunny day car and the Avalanche would be driven on those days she didn't want the convertible. Women go figure, If I had asked her to consider getting rid of the SRX, all hell would have broken loose. Of course all this could be subject to change.