Where is it?

Posted: June 19, 2009 in automotive, politics, rants
Tags: , ,

So the taxpayer’s own 60% of GM now, right? So that makes us executives, right? Then what I wanna know is, where’s my company car? It’s only fair. What’s that? You say the taxpayers don’t own 60% of GM? Just because the government used our money to buy them doesn’t make them ours? It’s the government that owns them?

I guess that’s why they get to name six board members. Oh, and since Canada owns 12% they get to name a board member too. So does the UAW. Let’s see, there’s thirteen board members; six plus one plus one equals eight; that leaves the bondholders with five board members. What this means is if there’s a disagreement between management and labor, if an agreement isn’t reached somewhere between 30 & 60 days (I can’t remember which), then the government steps in. But who do you think they’re gonna side with? This current administration is extremely pro union and I don’t think anything’s gonna sway them from that. So managements hands will be tied.

Aren’t you happy that we (and by we I mean the government) owns GM now?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s