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Strategies & Market Trends : Galapagos Islands
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To: Libbyt who wrote (56653)11/20/2008 1:13:53 AM
From: Jorj X Mckie  Read Replies (2) of 57110
 
Considering what is happening to the auto industry, do you think anyone will point their fingers at the unions as a major contributor of the problems in the U.S. and in the auto industry in particular?

By driving our manufacturing costs up, they allowed the auto manufacturers in the rest of the world to provide a better product for less money. I think shareholders should be very mindful of how the executives are being compensated. But I also think that companies should be forced to allow unions in their businesses.

BTW: i think that a bailout of the auto industry is futile. It turns into a confidence issue. Who would buy a GM car with the potential that they will make the same mistakes and have the same problems as before? It's similar to the banks. Unless the head of the monster is replaced, customers would be foolish to go back. The only way WaMu could come back as a bank is if someone with credibility, like Chase, came in and took over. The only way the auto industry can recover is if someone with credibility came in and took over.

IMO in the future executive salaries of publicly traded companies as well as executive compensations are going to come under increased scrutiny. A private company won't have that scrutiny, since they won't have a responsibility to report to their shareholders. Maybe this market meltdown will force more companies to become privately owned?
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