"Mulally said he'd work for $1 per year if his firm had to take any government loan money. The company's plan also says it will cancel all management employees' 2009 bonuses, scrap merit increases for its North American salaried employees next year, and sell its five corporate aircraft."
Now, these seem like drastic measure, and I'm sure they are, but I don't believe for a second that a CEO of formerly one of the largest companies in the world will accept basically no compensation is his compan goes under. Call me crazy, but Ford may have played a part in making this recession, why should our tax dollars fish them out?
This is a big issue. GM and Chrysler have said they could collapse in weeks if not given some kind of booster to their market, and will probably present their cases to Congress later this week. With billions owed to creditors, its clear that the great American auto industry that has thrived for a decade could now be on its last leg.
3 comments:
The American auto industry can be saved easily. If these companies invested in green technology for their cars, whether that be electric, hybrid, or even hydrogen, it would create jobs for Americans while offsetting the dependence on foreign oil and helping to solve global warming. They could also work to make their cars more reliable and even better looking. GM has ruined American cars by using cheap, plastic materials to cut costs. They have turned Saabs from a once Swedish luxury to a cheap American automobile.
I agree with your comment. The problem lies in getting these manufacturers to change their strategy and really invest in green technology. Unfortunately, companies like this won't change their marketing unless the consumer calls for it. Maybe this new generation of consumers and their brush with going under will make American autos lead a new path...
I agree that it would be good to go more green and find a better source of more feul independent transportation, but the bottom line is to do that automotive companies will have to spend money in research and development that they dont have, and then cars will start to cost even more, when most people cat afford them as it is. besides its the quality of the cars to0-most people look towards european cars as luxury vehicles, and japanese as economic and affordable. not many countries outside of the us buy american cars.
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