nteresting, now if this Senator made this statement, and it is equally what I said.. how in the world could these "leaders of Industry".. not have known, they need to restructure.. before going and ask for anything.
Actually 15 billion is far too much money to put in their hands, because the only people who will benefit will be Law Firms, but the agreement should put a fixed cap on Legal Fees allowable to be paid for any and all actions relative to this. and mandate that all payments to Legal firms first go to the Auto Zar, for approval, or before a Senate Group, designated to over-see the management of the usage of funds.. These men are the same one's who ran these companies in the ground, and cannot be trusted to handle public money, nor corporate matters. They have by the status and actions of their tenure, has shown them to be not only unqualified, but severely handicapped in potential to even gain capability to manage these companies.. If this country does not start to call things what they are, and take actions when its self identifying.. it will simply allow these mis directed men to just roll over to another company and crash it too. Just a license are revoked when people mess up, their credentials to serve as a CEO should be red lined. They can work under-someone, but not lead a company, unless they create one for themselves. Trillions of dollars have been wasted by these men. and a world commodity destroyed and the countless lives of people has been damaged beyond repair..
as a people, where it says that the US must protect itself from enemies both foreign and domestic.. it must began to expand what is the view of domestic enemies. War are fought to support the elements that support an economy, yet, they allow erosion within the internal working of corporations, which prove over and over to be a far worst enemy than any foreign nation.
It's coming a time that people are beginning to learn, and able to see better the internal enemies, don't always carry a gun or act by physical violence, but by economic rape within the corporate covers, it was once done, when they outlawed Monopolies, and then when they banned certain things after the crash of 1929, now it must be seen again but this time called for what it is. otherwise there will never be ethic supported, restored or saturated as the basis of character of corporate America.
This Nation is headed to the brink of Major reforms, and a reeling in of the unwarranted giving of power to people that are unprepared to handle it. These people forgot their mission, they become to think themselves Gods of sorts, and lived in a untouchable zone of opulence, and never ever made contact with the real people of this nation.. The United States on the people level is a "common sense world", they don't function on the level of collusion that attorneys have turned corporations into and back legislation that gives them far more latitude than they should hold, when they are placed as stewards of nation economy elements, or major infrastructure elements. They claim fiduciary duty to stock holder, but first they have a duty to the public they server, long before it matters of the stock holders.. because the stock holder invest because of the service they are purported to support and provide.. and it's the Boards of Directors duty to convey the mandates of the CEO to the Stock holders, not the other ways around.. and it's the CEO's position to manage the executive team to provide timely and accurate and progressive development and performance reporting, that he may make the qualified decisions for the best adjustments of the company. This turns companies over to the direct managment by the CEO, and to be over seen by a Board on crucial matters. that impact to maintain balance within the system.. The way it functions now, it's handicapped and moves like a war ship trying to turn around in country pond. it gets stuck in the mud.
some of these Auto Exec's should be brought before congressional panels, of mis managment and tagged with charges of inequity not just in their wrong way agenda, but on their inability to manage and maintain their position's, but the problem is , some of them are more tied into their ego than the matter of the great trust they have been entrusted to handle.. and they will run a country in the ground rather than to step down.. when things have exceeded their capability to handle.
Any qualified CEO, would do no less than the same, if and when members of their team can't meet the task objective, and the CEO should not be above taking the same actions upon self.. Now the big problem is mankind, is far too vain, for such to become the level of integrity embraced.. and we have time after time, these people who sit in the seats until, the seat is leveraged and foreclosed upon...
so Senator Dodd is exactly right.. they should go.. Chrysler has done everything kind of shuffle since the 1980's and still it can't get it's business straight, it makes too many models, and can't make any of them well. GM is an insult, because it was the second runner with some of the most marquee models in world history... that CEO.. should be banned from ever heading even a chicken feed factory..
Ford is stronger, but it's not because they ran the best business, it's because of their other holdings which keeps it as a corporate name afloat. They make regular trucks that are larger than anything ever in the history of consumer citizen vehicles. and they have a terrible team of designers.. who are probably too old to think in modular terms and aerodynamic designs, they still make boxes on wheels.. and not only is it unappealing to the public, the quality is lacking in the areas where quality should be placed.
Life is simple.. if these people get out of Ivory towers and go walk, look and see.. and don't do it with a team of people 30 deep surrounding them, and sending out two week notices that they will be walking, looking and interacting.. they could learn better how to understand reports and when to tell the report writers, to cut the crap and give it to them straight.
#182 "Callaway Gardens"
8 years ago
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