I keep hearing BUY American. Well, I agree with buy American. However, If you are going to buy from a company who is not anywhere near competitive, how long is your item going to have value? It is the American way to be the best, what we have seen from the BIG 3 is anything but the best! So now we are supposed to buy their product because if not “we are killing the middle class” and “racing this country to the bottom of 3rd world countries” If I purchase anything, I want to purchase a product that is going to last, if I have to spend a dollar more to buy the one that has no warranty issues, then this is what I am going to buy. I will continue to buy American as long as I can buy the best product my money can afford!
Should we let the Big 3 fail?? Its a free market right? If your business is not competitive, or your costs are too high, you have two options; find some investors that will help you rebuild, or run your company the way you always did and wait until the GOVERNMENT shows up at your door. Well here we are with both hands out! What did GM and CHRYSLER do? Guess that is a rhetorical question. Why is it that the American tax payer should pay for their mistakes? It was not the unions fault, it was every piece of the puzzle that was the BIG 3′s issues, but that is where it should stay!
I am a Ford fan and love them. I never have had any problems with them, am very happy I purchased them. I am also biased to Ford as they are the only one of the foreign and natives that have asked for nothing from our government! They saw this coming and took the necessary steps 3+ years ago to make changes, their market share is rising! Their products are world class! I for one am not interested in paying any more tax dollars to companies who have managed to work themselves out of business by being too slow to react to the market. As for Toyota going to their government, that’s up to them!
Ford (F) has yet to release their annual proxy detailing executive compensation, but the company said last month that Mulally and Chairman Bill Ford Jr. would take a 30 percent pay cut in 2009 and 2010 and forgo bonuses, as it tries to survive the global recession without taking government loans. Ford’s (F) $14.6 billion net loss in 2008 was the worst annual loss in the company’s 105-year history. In 2007, Mulally’s compensation was valued at $22.8 million, down nearly 42 percent from 2006, the year he joined the company and collected a hefty signing bonus. He earned $2 million in salary and a $4 million bonus in 2007, when the automaker lost $2.7 billion.
General Motors Corp. (GM) disclosed last week that CEO Rick Wagoner received a pay package in 2008 worth $14.9 million, but nearly $12 million was in stock and options that have fallen in value to about $682,000. Wagoner has agreed to accept a salary of $1 this year as part of GM’s request for government help. Wagoner needs to be removed. He was paid by his own (not that dissimilar to our elected officials) henchmen.
The Big 3 and Financial bailouts are a HUGE joke. It’s all politics, and a conspiracy to bring down the standard of living in this country for everyone.
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