The rumor is doing the rounds--top executives in the company have decided to share out $37 million in bonus maongst themseleves. Whoops.
As per profit sharing feature, (GM's profit sharing pay out is less than Ford or Chrysler) being initiated in 1982, the argument supporting the stand of the domestic (and helpless) automakers is absolutely simple: diminishing job guarantees, elimination of the standard jobs bank or any other so called reforms, whatever can lessen the cost disadvantage with the Asian automakers will make the automakers more profitable.
Right sizing derives from cost saving which is not meant for executives.
Pickets are up in Michigan and across the country. UAW strike is broadly about health care...As you know if you've been following the story, the big questions are 1) whether the UAW will accept the risk of health care liability by bringing its GM members out of the employer-sponsored plan and into a union-controlled health trust called a VEBA, and 2) how much GM is willing to put into the VEBA to get it started.
On competitive oligopoly, everyone wants to reduce price at any cost. More than external factors, its about internal issues. Don't treat workers so rudely, GM, its about thgeir health and wellbeing, not about Champagne or Seychelles, why not include executive bonus policy program into the healthcare program and stop blaming Japan for everything.
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» GM in Indiana: 5000 workers, 90,000+ retired workers from BPOTiger
I was stunned to read this stat about the numbers of workers who are drawing pension/health benefits from General Motors. I am not taking any side. You can read my previous post here. Lets take a look at the... [Read More]
Tracked on: September 30, 2007 11:15 PM | Permalink to Trackback