GM is expected to lose almost $16 billion this year. GM is laying off tens of thousands of employees. The company is BEGGING for money from the Feds. Yet the CEO of GM makes many, many millions of dollars in compensation per year.
While Toyota is also struggling in the difficult economy, Toyota is projected to EARN about $5 billion this year. When Toyota shut down their Tundra full-size pickup factory in Texas for about 6 weeks earlier this year, they did not lay anyone off. The factory employees STILL earned there regular salary WHILE participating in community service projects sponsored by Toyota around the city of San Antonio, Texas. Toyota, and no other Japanese car company, are asking for help from the Japanese government. AND, the president of Toyota makes a very reasonable and well deserved salary of $1 million per year.
It's easy to see which company is well run and which one is not and only makes excuses.
Where would it stop. If aid is given to the Detroit automakers, then will the airlines come begging next? Then home builder companies, insurance companies, big and small retailers? They will also say we need government help also.
Daibutsu, Kamakura
Daibutsu in Kamakura, June 2010. There were thousands of school kids visiting that day. It was still great fun.
can I come running too? :D
ReplyDeleteYeah, free money from the feds for everyone :)
ReplyDelete