GM - Still A Mess
http://www.washingtonpost.com/wp-dyn/content/article/2010/04/07/AR2010040701922.html
"GM has not earned an annual profit since 2004 and lost $88 billion between 2005 and its bankruptcy filing in June 2009."
"Through the bankruptcy and reorganization during 2009, the company shed billions in debt and 26,000 employees worldwide. Now leaner, GM can more easily earn profit, company officials said. " If that is true why did they still lose 4 Billion?
So lets recap. GM has been losing BILLIONS and BILLIONS for 6 consecutive years. In the middle of the 6 year downward spiral (and as a reward for such horrific results) the CEO received a 64% pay increase in 2007. http://www.reuters.com/article/idUSN2534738420080425
Currently the GM CEO makes 9 million dollars for his bang up job. http://finance.yahoo.com/news/GM-CEO-Whitacre-receives-9M-apf-362235582.html?x=0&.v=5
Rewarding failure -The new American way.
"GM has not earned an annual profit since 2004 and lost $88 billion between 2005 and its bankruptcy filing in June 2009."
"Through the bankruptcy and reorganization during 2009, the company shed billions in debt and 26,000 employees worldwide. Now leaner, GM can more easily earn profit, company officials said. " If that is true why did they still lose 4 Billion?
So lets recap. GM has been losing BILLIONS and BILLIONS for 6 consecutive years. In the middle of the 6 year downward spiral (and as a reward for such horrific results) the CEO received a 64% pay increase in 2007. http://www.reuters.com/article/idUSN2534738420080425
Currently the GM CEO makes 9 million dollars for his bang up job. http://finance.yahoo.com/news/GM-CEO-Whitacre-receives-9M-apf-362235582.html?x=0&.v=5
Rewarding failure -The new American way.
posted by res17 at
April 07, 2010
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