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Non-Tech : GM - General Motors -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (430)	11/20/2008 7:56:58 AM
From: Don Earl	Respond to of 543

From GM's last annual report: sec.gov Before all the recent plant closures and layoffs, GM employed 110,000 workers in the US. Hmmm... not quite the 4.5 million they're claiming in their ad campaigns. But then, GM does seem to have a bit of trouble with numbers, as evidenced by recent SEC investigations into shady accounting practices. The host of lawsuits disclosed in the filing also give an interesting view of the quality of corporate citizen we're talking about. GM practically gloats about it's efforts to poison the world and its lobbying efforts to prevent regulations that would require to stop. It practically takes pride in its ability to short change workers damaged for life by asbestos, and discusses chopping off healthcare for its retired workers over 65 with glee. Why shouldn't they? Now you and I get to pick up the tab on healthcare for those employees. Of course, when it comes to taking care of themselves, GM directors spare no expense. In 2006 and 2007, GM's top 5 directors made over $65 million. That's enough money to hire 1,300 workers at an annual salary of $50,000 each. sec.gov On the purely practical side, however, it's worth keeping in mind that $25 billion would just about cover the losses of the big 3 for one quarter.