U.S. Reports $9.7B Loss on GM Bailout
Cadillac
 

Cadillac Forums | Help Us Help You | Advertise | Cadillac Parts | Cadillac News | Cadillac Classifieds / (Old System)

Cadillac Technical Archive | Cadillac Dealers | Cadillac Reviews | Cadillac Dealer Reviews | Cadillac Vendors

CadillacForums.com is the premier Cadillac Forum on the internet. Registered Users do not see the above ads.
+ Reply to Thread
Results 1 to 9 of 9
Like Tree4Likes
  • 1 Post By orconn
  • 2 Post By orconn
  • 1 Post By drewsdeville
Community Lounge, Introductions and General Discussion Discussion, U.S. Reports $9.7B Loss on GM Bailout in General Discussion; Newswire: Detroit (Reuters) October 29, 2013 and still counting......
  1. #1
    928S is offline Cadillac Owners Connoisseur
    Automobile(s): '08 CTS 3.6L DI RWD, new engine Nov '13 @ 44Kmi.
    Join Date
    Oct 2005
    Location
    USA
    Posts
    1,921

    U.S. Reports $9.7B Loss on GM Bailout


  2. Remove Advertisements
    CadillacForums.com
    Advertisements
     

  3. #2
    orconn's Avatar
    orconn is online now Cadillac Owners 10000+ Posts
    Automobile(s): Cadillac 95 STS, 02 SLS
    Join Date
    Oct 2007
    Location
    Midlothian, VA
    Age
    71
    Posts
    12,596

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Quelle surprise! When you mix capitalism with socialism don't expect great results. Our very highly compensated senior executives have proven repeatedly to be losers ... except on their way to the bank!

    When are we going to start practicing real capitalism in this country? Those who make money get to have a nice reward, those who loose money don't get paid highly for their poor results!
    CadillacLuke24 likes this.

  4. #3
    06C6Z06 is offline Cadillac Owners Member
    Automobile(s): '14 ATS 2.0T, C6 Z06, 08 CTD
    Join Date
    Oct 2013
    Location
    Newberg Orygun
    Posts
    15

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Quote Originally Posted by orconn View Post
    When are we going to start practicing real capitalism in this country? Those who make money get to have a nice reward, those who loose money don't get paid highly for their poor results!
    What a concept!

  5. #4
    CadillacLuke24's Avatar
    CadillacLuke24 is offline Cadillac Owners Connoisseur
    Automobile(s): Alexandra - 96 SDV
    Join Date
    Jul 2010
    Location
    Middle of Nowhere
    Age
    23
    Posts
    4,818

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Quote Originally Posted by orconn View Post
    Quelle surprise! When you mix capitalism with socialism don't expect great results. Our very highly compensated senior executives have proven repeatedly to be losers ... except on their way to the bank!

    When are we going to start practicing real capitalism in this country? Those who make money get to have a nice reward, those who loose money don't get paid highly for their poor results!
    SOMEBODY GIVE THIS MAN AN AWARD!

    Thank you orconn. Why can't everybody see it that way?!

  6. #5
    orconn's Avatar
    orconn is online now Cadillac Owners 10000+ Posts
    Automobile(s): Cadillac 95 STS, 02 SLS
    Join Date
    Oct 2007
    Location
    Midlothian, VA
    Age
    71
    Posts
    12,596

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Actually most Americans do see it that way, and earn their many based on results. However, for the past twenty five years we have been accepting of a MBA and media born mystique that tells boards of directors to hire the guys who they read about in Fortune and other media which really are just publicity outlets for self promoters. Apparently boards are convinced that if a person gets written up in the media as being successful they actually have been successful. Nothing could be further that the truth.

    A prime example of this type of thinking was Hewlett Packard hiring of Carly Fiorina. Here was an AT&T manager who showed profitability by giving away the company's (AT&T's) business for well below actual cost an thus losing large sums of money so she would look good at quarterly review time. She moved up and didn't have to take the blame for the eventual losses which showed up later. She was then promoted and made a member of the AT&T team that divested itself of At&T's most valuable asset Bell Labs. She was written up first as a wonder child in Fortune and then many lesser business publications and H-P's board bought the story and hired her and she almost cost the stockholders their investment. H-P to this day has not recovered from this debacle, and yet the board made the same mistake two more times. We have now seem this same stupidity with the hiring EBay's old CEO ,,,, the one that took the boom off that rose by making a huge investment in Skype.

    These two examples are women, but the boards of directors seem just as capable of hiring looser men executives as well.

    One would think that supposedly successful business men would spend the time to investigate the true performances of those that they would like to hire, but apparently are satisfied to read what the media print as true assessments of executive ability.

    Unfortunately this makes for an exclusive club of executives who are passed from one company to another never getting blamed for the mistakes they have made and the losses they have incurred to the companies and shareholders who the boards have let down.
    77CDV and CadillacLuke24 like this.

  7. #6
    drewsdeville's Avatar
    drewsdeville is offline Cadillac Owners Master
    Automobile(s): none
    Join Date
    Oct 2004
    Location
    WI
    Posts
    5,304

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Quote Originally Posted by orconn View Post

    When are we going to start practicing real capitalism in this country? Those who make money get to have a nice reward, those who loose money don't get paid highly for their poor results!
    When we apply capitalism to a genuine free market - which has never been done (and hence, all examples of capitalism to date have led to gross instability and sustainability). Don't hold your breath - at this stage in human history, we will never have the means to do so.

  8. #7
    Aron9000's Avatar
    Aron9000 is offline Cadillac Owners Master
    Automobile(s): Past: 95 Fleetwood, 91 Brougham. Now: 92 Lexus SC300
    Join Date
    Jul 2008
    Location
    Nashville, TN
    Posts
    5,153

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Quote Originally Posted by drewsdeville View Post
    When we apply capitalism to a genuine free market - which has never been done (and hence, all examples of capitalism to date have led to gross instability and sustainability). Don't hold your breath - at this stage in human history, we will never have the means to do so.
    I'd argue that we did come pretty close to having a truly free market for about 35 to 40 years, from right after the civil war up to the early 1900's. That era was marked by several panics and market corrections. Then there was lack of competition in many industries, because one man and his company was that industry(Standard Oil, etc).

    Orr is pretty spot on about the market being WAY too concerned with quarterly results. If you're a major stakeholder, you should be asking yourself, "What is this company doing in the next 1 to 5 years to grow and increase my stake?" That's if you have a vested long term interest with the company, which these Wall Street bankers and traders don't give two craps about. If you increase the share price by 5% this quarter, bam, I have 50 million in outstanding stock in your company, I sell it and pocket a cool $2.5 million I just made on this deal.

  9. #8
    drewsdeville's Avatar
    drewsdeville is offline Cadillac Owners Master
    Automobile(s): none
    Join Date
    Oct 2004
    Location
    WI
    Posts
    5,304

    Re: U.S. Reports $9.7B Loss on GM Bailout

    Quote Originally Posted by Aron9000 View Post
    I'd argue that we did come pretty close to having a truly free market for about 35 to 40 years, from right after the civil war up to the early 1900's. That era was marked by several panics and market corrections. Then there was lack of competition in many industries, because one man and his company was that industry(Standard Oil, etc).
    We've never been remotely close to a true free market...ever. There has always been significant regulation and intervention in place.


    We have much, MUCH more to learn on a global level - as a human species. While the most successful to date and the best we know, our current implementation of capitalism is very premature and completely dysfunctional/unsustainable. Our founding fathers hinted at this from the beginning - and we're now realizing it. We've theorized about how capitalism should work under ideal conditions, but we don't have the fundamentals in place to execute it properly.

    This is a very large experiment that WILL catastrophically fail at some point - you can't continue to patch and expand a structure that sits on unprepared, unstable ground. We will hopefully learn from it and use the resulting clean slate that we need.
    CadillacLuke24 likes this.

  10. #9
    77CDV's Avatar
    77CDV is offline Cadillac Owners Master
    Automobile(s): 77 CDV, 06 DTS III, 69 FWB
    Join Date
    Mar 2006
    Location
    Newbury Park, CA
    Age
    42
    Posts
    9,167

    Re: U.S. Reports $9.7B Loss on GM Bailout

    To paraphrase Churchill, ours is the worst ecomonic system ever devised, except for all the others.

Quick Reply Quick Reply

Register Now

Please enter the name by which you would like to log-in and be known on this site.
If you do not want to register, fill this field only and the name will be used as user name for your post.

Please enter a password for your user account. Note that passwords are case-sensitive.

Please enter a valid email address for yourself.

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Bookmarks

Cadillac Posting Rules

  • You may post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts
Read about Lincoln | Buick | Kia Forte Forum
Need products for your Cadillac? Check out your options at the links below:

custom floor mats | Cadillac Chrome and Black Chrome Wheels | window tinting