More Bailout Info

[alpha]

It almost slipped by me. Do any of you recall who Bob Nardell (the CEO of Chrysler) is? He was formerly the CEO of Home Depot that was run into the ground while he was in charge.

Kinda makes you feel that Chrysler deserves a few more billions, doesn't it?

Bob

[lebomike]

Home Depot also gave him a $127 million dollar golden parachute. Then Chrysler hires him and he knows nothing about the auto industry. Samrt move on there part huh.

[Uncle Cracker]

Yup, that was my stupefied reaction when they hired him... How does a guy with a track record that bad even get a job??

[LCHIEN]

Nardelli must be doing a good job... his burn rate is less than GM's.

[JR]

I dunno. We skewer these guys for being embedded car guys, not able to think outside the box, too set in their ways. Then when they hire guys from the outside - HD or Boeing, we skewer them for hiring know-nothings.

Of course Nardelli really does know nothin, but I'm just sayin'.

JR

[crokett]

Of course Nardelli really does know nothin, but I'm just sayin'.

JR

He knows how walk away with 127 million. I'm just sayin'.

[Uncle Cracker]

He knows how walk away with 127 million.

Ya, but not how to stay away...

[430752]

for the best read on the auto industry, albeit from a biased point of view (the editor hates american car companies, but loves american cars, inc., meaning the industry), go to www.autoextremist.com. Anyway, he's been skewering Nardelli for years. He regularly gives Nardelli the "Stupid Quote of The Week Award" or labels him as the answer to the question nobody was asking. Good stuff, troll back through the rants however, since the past several have been on this recent Congress thing. Some good reads on this recent stuff, but mostly repetitive.

I did hear on today's news that some Senator actually said that Detroit are idiots and need to roll back wages and benefits to what Japan Inc. is paying. It wasn't said as a purely economic statement (like that costs were outstripping expenditures) but more as a what's wrong with the world statement (like that Detroit has its head scrwed on wrongly). I couldn't beleive it.

Well, sure, with times tight money needs to be saved and costs cut. But he said it like the whole model was screwed up. I was flabbergasted that some Senator was actually suggesting that we cut our wages and standards of living to match that of another country. That we lessen ourselves to match someone else. Hello, America? Ever heard about it? Shouldn't he have said that Japan Inc should increase their wages and standard of living to match us? I dunno, maybe I'm just nuts.

EDIT: I just went back through some recent autoextremist articles on the recent congressional hearing and retract that you skip some of the more recent ones. I think the November 26th one is really good, and the one from December 3rd ain't too shabby either. In any event, however, the dirt on Nardelli, and even the Rick (wagoner) are priceless and probably from about a year or two ago. He's also had a few great ones on that moron Caroll Shelby. His "On the Table" section is generally hillarious as well. In any event, it should be required reading for anyone with even a remote interest in the auto industry and etc.

[crokett]

Ya, but not how to stay away...

Why should he? He can walk away again and get another 127 million.

Well, sure, with times tight money needs to be saved and costs cut. But he said it like the whole model was screwed up. I was flabbergasted that some Senator was actually suggesting that we cut our wages and standards of living to match that of another country. That we lessen ourselves to match someone else. Hello, America? Ever heard about it? Shouldn't he have said that Japan Inc should increase their wages and standard of living to match us? I dunno, maybe I'm just nuts.

My new Odyssey was made here, in Tennessee I think. Honda just opened a new plant in Indiana. 900 jobs now, up to 2K when the plant is fully online. My FIL said there were 30,000 applicants for those jobs. I am thinking Japan Inc is paying a pretty competitive wage here in the US. At the same time the Big 3 were moving their plants out of the US, Honda and Toyota were moving in.

[430752]

Agreed that many, many applicants are likely applying for Honda's jobs, or Toyotas or etc. And agreed those jobs are needed. But disagree they're paying a good wage. Its like throwing a can of spam to a starving guy and after he devours it completely, stating that it must have been good steak. Competitive wages and good wages are not always the same thing.

Which is my point, is this what the USofA has become? that any job is a good job, even if it lessens our standards of living, since any living is good living? Sure, junior might not grow up in a house any longer, but an apartment is close to as good. Sure, ma and pa won't be able to afford to send him to college any longer, but college was overrated anyway. Sure, won't be a chicken in every pot, but who liked the mess it made anyway. This is acceptable?

I mean the USofA used to stand for something, now its laying down for anything. If I wanted to live like a Japanese person lives, or live like a Czech lives, I would've moved to Japan or Czecheslovakia. But I want to live, and I want you and yours to live, like an American. I'll be darned if on my watch my generation and every generation after me lived a life worse than my parents. Isn't it supposed to be getting better with each generation, not worse?

[jackellis]

Isn't it supposed to be getting better with each generation, not worse?

Short answer: yes.

Longer answer. First, improvements in an already excellent standard of living are not guaranteed. Second, the rest of the world is lusting after the American dream, and they're willing to work harder for less money to get a piece of our standard of living. This means we have to raise our game to stay ahead. we need to turn out better educated workers and figure out how to motivate them to be more productive than less expensive workers. Tough assignment but doable, especially if parents insist that their kids pay attention in school and work with the kids and their teachers to bring home good grades.

However, Americans are not entitled to anything simply by virtue of the fact that they live in America. If we want to maintain or improve our standard of living, we have to earn it in a globally competitive marketplace for labor and services.

[crokett]

Agreed that many, many applicants are likely applying for Honda's jobs, or Toyotas or etc. And agreed those jobs are needed. But disagree they're paying a good wage.

A quick google search turned up this from August '08. A bit dated but look at the table

http://www.timesfreepress.com/news/2...h-local-wages/

Starting wages for Honda in Indiana is 3 bucks more per hour than the UAW negotiated for its workers in '07. Nissan workers earn a dollar less an hour than UAW workers. Think those wages aren't competitive?

What do you consider 'a good wage'?

[LCHIEN]

Why should he? He can walk away again and get another 127 million.



My new Odyssey was made here, in Tennessee I think. Honda just opened a new plant in Indiana. 900 jobs now, up to 2K when the plant is fully online. My FIL said there were 30,000 applicants for those jobs. I am thinking Japan Inc is paying a pretty competitive wage here in the US. At the same time the Big 3 were moving their plants out of the US, Honda and Toyota were moving in.

are their unions in Tennessee?

[crokett]

are their unions in Tennessee?

What does that have to do with anything?

[ragswl4]

Short answer: yes.

Longer answer. First, improvements in an already excellent standard of living are not guaranteed. Second, the rest of the world is lusting after the American dream, and they're willing to work harder for less money to get a piece of our standard of living. This means we have to raise our game to stay ahead. we need to turn out better educated workers and figure out how to motivate them to be more productive than less expensive workers. Tough assignment but doable, especially if parents insist that their kids pay attention in school and work with the kids and their teachers to bring home good grades.

However, Americans are not entitled to anything simply by virtue of the fact that they live in America. If we want to maintain or improve our standard of living, we have to earn it in a globally competitive marketplace for labor and services.

Well said. No guarantte just because you live here. Gotta work for it. Part of our problem is that too many just expect it to be given to them and if they don't get it, then whine about it, get a subprime mortgage then go belly up.