Everything in life, positive and negative, starts off as a thought in someone's mind and
then, over time, with other people doing their part by sharing that person's thought
(positive or negative) with others it becomes our shared reality - Frederick Zappone
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Chrysler exec: failure could spark depression
By JULIE HIRSCHFELD DAVIS, AP
By JULIE HIRSCHFELD DAVIS, AP
WASHINGTON -A top Chrysler executive warned Wednesday that a carmaker collapse could send the economy spiraling into a depression, while the United Auto Workers agreed to new concessions for their companies.
Jim Press, Chrysler's vice chairman, said the U.S. automakers were "down to months left," as industry officials ratcheted up a fierce lobbying push to persuade Congress to approve as much as $34 billion in emergency aid.
"We're on the brink with the U.S. auto manufacturing industry," Press told The Associated Press in an interview. "If we have a catastrophic failure of one of these car companies, in this tender environment for the economy, it's a huge blow. It could trigger a depression."
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The excerpt you just read was taken from a recently published AP news story. I have reprinted it word for word in the order in which it was written with nothing taken out of context.
Did you notice the threat this executive made if Washington doesn't cave into his demands for a bail out so that the Chrysler company and he will survive. This same executive is one of the men responsible for the awful shape his company is in that has contributed to the awful economy we live in.
If it was you or I who made major mistakes in managing the affairs of a corporation, no one would bail us out or pay us millions of dollars in salary, stocks, perks and other benefits like this man makes. Instead we would be fired and not even be able to collect unemployment insurance.
Executives of major corporations, like Chrysler, gets rich off the backs of 'front line workers' like you and I and when they fail they are rewarded for their failures by keeping their jobs and continuing to receive big salaries. And if they are fired like the CEO of Coca Cola Company was fired, years back, for his mistake in changing the coke forumla, they receive millions of dollars in termination pay. In the case of the coke executive, he was paid a $60,000,000 termination fee. That's sixty million dollars for failing...
To pay for his termination fee and the mistakes in judgment he made in regarding to changing the coke formula, Coke was force to lay off 5,000 workers (front line troops). Where is the fairness in that?
Isn't it about time the FAT CATS responsible for making our economy the mess that it is pay the price for their mistakes like the rest of us do! - Frederick Zappone.
I will add the comments I receive about this post to this message without using your name or e-mail address to protect your privacy. To send in your comments about this post, click here
Related Reading:
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The excerpt you just read was taken from a recently published AP news story. I have reprinted it word for word in the order in which it was written with nothing taken out of context.
Did you notice the threat this executive made if Washington doesn't cave into his demands for a bail out so that the Chrysler company and he will survive. This same executive is one of the men responsible for the awful shape his company is in that has contributed to the awful economy we live in.
If it was you or I who made major mistakes in managing the affairs of a corporation, no one would bail us out or pay us millions of dollars in salary, stocks, perks and other benefits like this man makes. Instead we would be fired and not even be able to collect unemployment insurance.
Executives of major corporations, like Chrysler, gets rich off the backs of 'front line workers' like you and I and when they fail they are rewarded for their failures by keeping their jobs and continuing to receive big salaries. And if they are fired like the CEO of Coca Cola Company was fired, years back, for his mistake in changing the coke forumla, they receive millions of dollars in termination pay. In the case of the coke executive, he was paid a $60,000,000 termination fee. That's sixty million dollars for failing...
To pay for his termination fee and the mistakes in judgment he made in regarding to changing the coke formula, Coke was force to lay off 5,000 workers (front line troops). Where is the fairness in that?
Isn't it about time the FAT CATS responsible for making our economy the mess that it is pay the price for their mistakes like the rest of us do! - Frederick Zappone.
I will add the comments I receive about this post to this message without using your name or e-mail address to protect your privacy. To send in your comments about this post, click here
Related Reading:
Economic Collapse and the Law of Attraction
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