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Shorter Mitt: Let the Auto Retirees Starve!!!
Firedoglake —
... Chrysler's Nardelli may make $1 million a year, GM's Rick Wagoner makes $2.2 million a year, and Ford's Mulally makes $2 million a year, plus truckloads of bonuses. I absolutely agree these guys should take a pay cut (and all but Mulally said yesterday they'd be willing to take them--Nardelli said he'd be willing to follow Lee Iacocca's $1/year example). But it is more likely that these guys will take pay cuts in case of a bridge than in bankruptcy. (Also, some of them have put real limits on executive compensation and benefits already.) ...
Shorter Mitt: Let the Auto Retirees Starve!!!
The Latest on Air America —
... The need for collaboration will mean accepting sanity in salaries and perks. At American Motors, my dad cut his pay and that of his executive team, he bought stock in the company, and he went out to factories to talk to workers directly. Get rid of the planes, the executive dining rooms — all the symbols that breed resentment among the hundreds of thousands who will also be sacrificing to keep the companies afloat. Chrysler's Nardelli may make $1 million a year, GM's Rick Wagoner makes $2.2 million a year, and Ford's Mulally makes $2 million a year, plus truckloads of ...
Just Plain Clueless
Balloon Juice —
... Here is Sen. Inhofe in a press release opposing the auto industry bailout:
For example, there are no provisions in the language that specifically direct the ‘car czar’ to take any specific restructuring actions, such as renegotiating union contracts or debt obligations.
And then there is this:
The chief executives of Detroit’s Big Three auto makers appearing before Congress today don’t make the kind of money that Wall Street bosses pull down, but they could still face tough ...
