GM's Pension Mess

[erpowers]

GM should not be allowed to default on it pension plans. The government should make them and other companies pay their CEOs less and give them either less or no stock options. When you look at how some of the CEOs of these companies are paid $6 million a year and then given stock options and bonuses and then have the companies buy them houses and/or pay their house note or apartment rent you see that they could save money by cutting these things. If GM and other companies would just cut these things that would help them get out of the whole.

[okieinpain]

1. not even close, but I do agree that they are being paid way to

fucking much money. along with movie stars and athletes.

[Wapsie B]

2. What someone should do is start freezing the assets

of these robber barons, putting liens against all these golden parachutes until these pensions are funded.

[Wright Patman]

3. You don't understand

The global corporations own the U.S. government. They put * in office as well as 90 percent of the representatives.

Call it corporatism or fascism or whatever. Actually, in textbooks, fascism has the central government controlling the actions of a few monopolitistic corporations but not owning them.

In our form of fascism, the monopolistic corporations control the actions of the central government. And whether they actually "own" the government is essentially irrelevant at this point.

[B Calm]

4. Compare your salary to the CEO's / Here's the link..

http://www.aflcio.org/corporateamerica/paywatch/ceou/

[EVDebs]

5. This is all part of the "Race To The Bottom" globalization process

Wall Street is pushing. Embedded in the article 'The Benefits Trap' by Businessweek last summer

www.businessweek.com/magazine/content/04_29/b3892001_mz001.htm

is this stunning admission that 'globalization' is behind this movement by multinationals to strip US employees of healthcare and pension benefits in order to 'compete' with their 'competition' overseas, mostly themselves through their affiliates:

"Perhaps most important, in the global economy, long-established U.S. companies are competing against younger rivals here and abroad that pay little or nothing toward their workers' retirement, giving the older companies a huge incentive to dump their plans."

The CEOs and their government shills (congressmen and Dept of Labor) are out to gut worker protections of any kind. Outsourcing of jobs is seen as a good thing to them. They need their heads examined, but they'll have to get them out of their asses first.

[Tux]

6. Best thing to do

Is to pay them $300,000 per year (Pres gets $400,000 with the most stressful job on Earth so why should fancy CEOs get millions for doing much of nothing?), get decent healthcare, and buy their own damn stocks like everyone else. Corporations wonder where their profits go and it's usually the executives' or/and Boards' accounts.