Anyone read this article? I feel for the suppliers. I'm not so sure about the OEMs. I don't think that the economy is what pushed them to the brink of destruction. Anyone have any thoughts?
http://www.google.com/hostednews/afp/article/ALeqM5g_4JBWanc-GkzcES3yre0xCk0N9A
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I'm for the loans to the auto industry, but this whole situation makes me sick! I'm not sure about Ford and Chrysler, but GM paid their CEO $16 million dollars last year, while they lost $23 million dollars that year. His salary made up OVER half of their losses for the year! I think CEOs salaries are outrageous, but when their company is suffering it's preposterous to pay someone that kind of money. They claim they have to to keep the best CEOs, but he's obviously doing a terrible job if the company is losing so much money.
All I ever hear about is that the union employees make too much money. Why is that what people complain about when one person's salary is dragging the company down? If manufacturing workers don't make a decent wage, they won't be able to afford the cars that they make! Henry Ford knew this and that's why he paid his workers a good middle class wage.
It's time to stop blaming middle class workers and look to the obscenely overpaid executives when times get tough!
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