GM Gives Up 2 Jets

By Jay Newton-Small | @JNSmall | November 21, 2008 | +

Better late than never, I guess. Though, I have to wonder: this is two out of how many?

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nibblybits

5
sgwhiteinfla

JNS
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There is a story posted at the New Republic about how people came up with the bogus $70 an hour wage for the auto workers. I think maybe that information is important enough to be added to the conversation so people are getting an accurate picture of whats going on with the Big 3
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http://www.tnr.com/politics/story.html?id=1026e955-541c-4aa6-bcf2-56dfc3323682
nibblybits

http://voices.washingtonpost.com/economy-watch/2008/11/gm_gets_message_to_sell_two_co.html
http://www.ghostnote.com Cookie Puss

Cut production by about 5 million cars a year and they’ll be on the right track.
bryanfromhouston

@CookiePuss,
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And thus was my point in another thread that the miniscule costs of a jet in comparison to really large problems was merely a distraction. It was the shiny little object to keep folks from recognizing the obvious…the bailout emporer has no clothes!!! Granted, if GM did cut excess costs (like the jet, gym memberships, etc.) it would make them more cost efficient, BUT IT WILL NOT SAVE THEM. Nothing will…short of taxpayer funded handouts so that they can pay their workers to build cars which nobody either wants to or can afford to buy.
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Exhibit A: http://meganmcardle.theatlantic.com/archives/2008/11/viewed_from_afar_its_lovely.php
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The reality is that whether the Big 3 go through a bailout or bankruptcy….those jobs, those communities, the UAW as people know it is toast.
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Further, we in this country from the top politicians on down have a real problem with cognitive dissonance. The economics (and what a dismal science it is) of the situation dictate either state-run auto companies or a massive (by MASSIVE, I mean at least 1/2 of all production, management, car lines, workers and facilities let go!!).
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Just like a jumbo airliner that stalls on takeoff, the only hope of salvation is to dump the cargo that weighs the plane down, and even then you had better have a parachute. This is one of those situations in life where something starts down a chain and all you can do is sort of watch in horror, say oh $hit, and pray to your Creator.
http://www.ghostnote.com Cookie Puss

I agree bryanfromhouston. Unloading the jet is re-arranging deck chairs on the Titanic.
nibblybits

The jets, the huge CEO salaries, the golden parachutes that are common in all these Fortune 500 debacles; these are all the doings of the boards of directors of these companies. Until the boards are reformed to act as oversight as they are intended, instead of filled with the cronies of management who just rubberstamp their decisions, things will never change. These directors get very generous paychecks for showing up for meetings once in a while but doing essentially nothing.