Iacocca says US auto execs shouldn't be ousted

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Iacocca says US auto execs shouldn't be ousted - 12/9/2008 9:31:12 AM

celticlord2112

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Iacocca says US auto execs shouldn't be ousted

Apparently, the government is supposed to be the incompetent CEO's ultimate golden parachute.

quote:

"Having been there, I do not agree with the sentiment now coming out of Congress that the management should be changed as a condition of granting loans to the Detroit automakers," Iacocca said. "You don't change coaches in the middle of a game, especially when things are so volatile."

Iacocca has the metaphor wrong. You do change coaches after the team tanks yet another season (well, unless the team is the Texans, in which case multiple losing seasons are required).

Fire the lot of them. Decertify the UAW. Clean house and let some truly entrepreneurial types take the helm of the Big Three for a while.

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 10:17:27 AM

Dnomyar

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Just who are these truly entrepreneurial type you are talking about. Names please?

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 10:19:46 AM

celticlord2112

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quote:

ORIGINAL: Dnomyar

Just who are these truly entrepreneurial type you are talking about. Names please?

Myself, for one. Two of my clients would be good candidates for the other two companies.

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 10:21:41 AM

Dnomyar

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Your talking nepotism and you don't even have the job yet.

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 10:22:50 AM

Dnomyar

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Why the hell am I thinking Larry, Moe and Curly.

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 10:44:31 AM

Termyn8or

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CL, so you seemingly agree with my outsourcing jobs thread. I am not even reading what Iacocca said, yes he did something, but it did not evoke any great respect or sense of awe in me. I saw the product.

I say, and still maintain one point that I am not coming off of. The automakers need to get out of the retirement business. Tell the UAW that we are willing to pay, and pay well for a good day's work, and we will pay them to work, if you want them to get paid when they don't work, you deal with it.

If this had been the way it was, it would be the unions in trouble, not the automakers. We'll setup any payroll deductions you want, send the money wherever you say, but we are NOT UNDER ANY CIRCUMSTANCES going to be responsible to pay people not to work. YOU take care if it. Grow a pair of gonads and take it right off the table. And then when the current retirees die off we might have a chance to get healthy again. The only hope we have right now is to survive.

I know some who's IRAs have gone down, that is a problem, but it is not a problem for the company for which they work.

In other words, if they just stick to building cars, they would not be so vulnerable. I am not saying eliminate retirement, not at all, but if the union wants it, let the union provide it. Here, here's all the deductions, here's all the co-pays, YOU see what you can do with it.

Another nice thing about this plan is that union officials are largely elected. Hmmmmm.

Brings to mind years ago before my Uncle went into management. He ran for union president but got bought off. They paid him LARGE and for whatever enjoyment he may have gotten out of that money, if he were alive today I bet he would be even happier with his decision. Everybody is between a rock and a hard place now.

And my point still holds, if people want retirement, either do it yourself or let the union do it. Tell the company as I do "I want all my money now".

Even if it is setup where people can defer income, right from the payroll office, this could be a fringe benefit. Almost like an extremely low or no cost brokerage. Their future would be in their own hands, and the cost of doing that for them is at least predictable.

T

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 12:43:18 PM

celticlord2112

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quote:

ORIGINAL: Dnomyar

Your talking nepotism and you don't even have the job yet.

I'm pointing out that there are sensible people who know how to run businesses at a profit, who know how to build companies and create wealth, and who could do far better than the current crop of CEOs has done in the auto industry.

If I'm the only entrepreneurial type in this country, we're in worse shape than even the gloom-and-doomsayers realize.

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RE: Iacocca says US auto execs shouldn't be ousted - 12/9/2008 4:21:51 PM

came4U

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quote:

I'm pointing out that there are sensible people who know how to run businesses at a profit, who know how to build companies and create wealth, and who could do far better than the current crop of CEOs has done in the auto industry.

If I'm the only entrepreneurial type in this country, we're in worse shape than even the gloom-and-doomsayers realize.

You aren't.

ZENN: Zero Emission No Noise

See: Zenn Motor Company: http://www.zenncars.com/

Check out the Zenn Car. http://www.youtube.com/watch?v=QY9g30CthKE

if investment is your objective then consider getting into this now: http://www.cbc.ca/canada/prince-edward-island/story/2008/01/21/zenn-mackinley.html?ref=rss

http://www.income-energy-time.com/blog/?p=21

http://www.torontosun.com/life/greenplanet/2008/10/04/6974376-sun.html

AltCar Expo Video: ZENN Motorcars http://www.evworld.com/article.cfm?storyid=1156

Canadian Government Back to Killing the Electric Car (Only in Canada. Pity) http://www.greenparty.ca/en/node/3879

Stock analysis: http://finance.google.ca/finance?q=CVE:ZNN
Zenn Motor Company:

2.35
+0.11 (4.91%)
Dec 9 - Close

Open:
2.30

Mkt Cap:
79.03M

P/E:
-

Dividend:
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2.61

52Wk High:
6.89

F P/E:
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Yield:
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2.29

52Wk Low:
1.40

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EPS:
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** Having studied Economic Anthropology for quite some time, I have one learned a few things....no corporation as large as those in the automotive business lose money by accident...in fact they don't 'lose' any at all.

Think about all these years these corporations have been in business, the profits, by Gods, the rates they pay employees, benefits (they aren't that great). Do the math, ....they are simply using this bailout as a downsizing method to avoid compensation to employees and other trickling down of economic depression load of other manufacturers within the auto industry. There is no way in hell companies of this stature can fail, despite the flux in gas prices lately..it is merely impossible. Why aren't employees, shareholders and the average citizens asking....'where is the money?????"

While people scramble and worry about this bailout, while they look for other jobs or even cause worry about the economic pressure to those who have limited affect/effect upon the industry as a whole..............they are bringing in-line legal mandates (global warming scambucklers) and probably out (if not already) hiring new staff to work in low-pollution building automobiles (framing, assembling, tool/dye and cabling) as we sit here like twirlers in munchkinland. Don't be fooled.

Get ahead of their game. Don't allow them to re-stock high volume metals and fuel consuming parts any longer. Don't fall for this TWICE.

ie: good example: The Air Canada bogus bailouts (since 2001)

< Message edited by came4U -- 12/9/2008 4:57:46 PM >

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