GM told: Cut every salary

[Analog]

Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

 

[CVSiN]

Originally posted by: yellowfiero
Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

well if GM products were not so crappy thery might do better.. even the vette is shoddy these days..

 

[DougK62]

Originally posted by: CVSiN

Originally posted by: yellowfiero
Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

well if GM products were not so crappy thery might do better.. even the vette is shoddy these days..

Uh...lol

 

[Vette73]

Originally posted by: CVSiN

Originally posted by: yellowfiero
Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

well if GM products were not so crappy thery might do better.. even the vette is shoddy these days..

How so?

You know nothing about cars I can tell.

 

[Budmantom]

Great plan

 

[PricklyPete]

Originally posted by: CVSiN

Originally posted by: yellowfiero
Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

well if GM products were not so crappy thery might do better.. even the vette is shoddy these days..

yeah...that's right. The Z06 is mighty shoddy...and that new Tahoe is a piece of crap. :roll:

 

[brxndxn]

hey GM.. Here's some advice:

1. listen to Kirk Kerkorian and lower upper-level outrageous salaries; do not lower salaries from the average worker.. ie: do not slash regressively

2. allow those that will not stay due to lower salaries to leave. then, patch them up without hiring new people right away

3. simplify the product line... Hummer, Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, Saab, Saturn, Opel.. holy sh!t.. Cut down on the number of models that causes inefficent inventory management

4. raise quality.. wait.. RAISE QUALITY. There's no goddamn reason I should have had to pay $350 three separate times to fix a window motor in the same door on my car!

5. refine interiors. GM, your car interiors are sh1t. It's the worst thing about GM cars. Fix them. Make interiors that are at least as pleasant to be in as a 30-year old airline jet. If anything is made to look like metal, but is NOT metal, then get rid of it!

6. shake up the industry.. quit offering bottom cars with no options.. of course people want air conditioning, keyless entry, and every other goddamn feature - give it to them standard

7. advertise something other than Hummer. Hey GM, haven't you realized that buying a name brand so you can stick the name on crap doesn't mean it sells that crap by now?

8. tell the UAW to suck it. close some more plants if you have to

9. quit letting your upper-level employees blow corporate money on corporate excess like private jets

10. fire those responsible for GM's problems.. if an executive made a bad decision, fire his ass

11-100.. Improve the quality of your cars!

 

[Trikat]

Stupid GM.
Those executives are garbage.

 

[alien42]

Originally posted by: brxndxn
hey GM.. Here's some advice:

1. listen to Kirk Kerkorian and lower upper-level outrageous salaries; do not lower salaries from the average worker.. ie: do not slash regressively

8. tell the UAW to suck it. close some more plants if you have to

i agree with most of your points i did not quote but the 'average worker' at gm makes too much money because of the uaw.

 

[l Xes l]

GM FTL

 

[JulesMaximus]

Originally posted by: brxndxn
hey GM.. Here's some advice:

1. listen to Kirk Kerkorian and lower upper-level outrageous salaries; do not lower salaries from the average worker.. ie: do not slash regressively

2. allow those that will not stay due to lower salaries to leave. then, patch them up without hiring new people right away

3. simplify the product line... Hummer, Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, Saab, Saturn, Opel.. holy sh!t.. Cut down on the number of models that causes inefficent inventory management

4. raise quality.. wait.. RAISE QUALITY. There's no goddamn reason I should have had to pay $350 three separate times to fix a window motor in the same door on my car!

5. refine interiors. GM, your car interiors are sh1t. It's the worst thing about GM cars. Fix them. Make interiors that are at least as pleasant to be in as a 30-year old airline jet. If anything is made to look like metal, but is NOT metal, then get rid of it!

6. shake up the industry.. quit offering bottom cars with no options.. of course people want air conditioning, keyless entry, and every other goddamn feature - give it to them standard

7. advertise something other than Hummer. Hey GM, haven't you realized that buying a name brand so you can stick the name on crap doesn't mean it sells that crap by now?

8. tell the UAW to suck it. close some more plants if you have to

9. quit letting your upper-level employees blow corporate money on corporate excess like private jets

10. fire those responsible for GM's problems.. if an executive made a bad decision, fire his ass

11-100.. Improve the quality of your cars!

You're right. Those things cost all of about $100 for the part (that's the cost to the consumer) and it takes all of about 20 minutes to replace. Man, you got hosed.

 

[shortylickens]

Originally posted by: brxndxn
hey GM.. Here's some advice:

1. listen to Kirk Kerkorian and lower upper-level outrageous salaries; do not lower salaries from the average worker.. ie: do not slash regressively

2. allow those that will not stay due to lower salaries to leave. then, patch them up without hiring new people right away

3. simplify the product line... Hummer, Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, Saab, Saturn, Opel.. holy sh!t.. Cut down on the number of models that causes inefficent inventory management

4. raise quality.. wait.. RAISE QUALITY. There's no goddamn reason I should have had to pay $350 three separate times to fix a window motor in the same door on my car!

5. refine interiors. GM, your car interiors are sh1t. It's the worst thing about GM cars. Fix them. Make interiors that are at least as pleasant to be in as a 30-year old airline jet. If anything is made to look like metal, but is NOT metal, then get rid of it!

6. shake up the industry.. quit offering bottom cars with no options.. of course people want air conditioning, keyless entry, and every other goddamn feature - give it to them standard

7. advertise something other than Hummer. Hey GM, haven't you realized that buying a name brand so you can stick the name on crap doesn't mean it sells that crap by now?

8. tell the UAW to suck it. close some more plants if you have to

9. quit letting your upper-level employees blow corporate money on corporate excess like private jets

10. fire those responsible for GM's problems.. if an executive made a bad decision, fire his ass

11-100.. Improve the quality of your cars!

Damn skippy!
Numbers 1, 9 and 10 are the biggest problem with any corporation.
What they dont seem to realize is the hi-level execs with multimillion dollar salaries are the least productive members of the company. (Either that or they dont care.)

3,4,5, and 6 seem to be issues with a lot of car makers. But that may be more of a personal taste issue. I'm happy with my Mazda and see no reason to move over to an overpriced american model.

 

[flyfish]

hey GM.. Here's some advice:

Jump ship and get a job at Toyota.

 

[JulesMaximus]

Originally posted by: flyfish
hey GM.. Here's some advice:

Jump ship and get a job at Toyota.

Nah, Toyota probably wouldn't take them. They'd just fvck up Toyota then.

 

[CVSiN]

Originally posted by: PricklyPete

Originally posted by: CVSiN

Originally posted by: yellowfiero
Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

well if GM products were not so crappy thery might do better.. even the vette is shoddy these days..

yeah...that's right. The Z06 is mighty shoddy...and that new Tahoe is a piece of crap. :roll:

Chevy and GM has sucked ass for the last 10 years plus...
Drive a Ford or even a new Dodge product for 1 year or any japanese or european car and you will see..
GMs are flat our rattle traps after less than 30k miles..
everything vibrates specially in the vette and the last edition camaros..
and the SUVs please....

 

[Ktulu]

Originally posted by: CVSiN

Originally posted by: PricklyPete

Originally posted by: CVSiN

Originally posted by: yellowfiero
Billionaire investor Kirk Kerkorian sent a stern message to General Motors Corp. on Tuesday -- cut wages from the boardroom to the factory floor, chop costs by selling the Saab and Hummer brands, and adopt a sense of urgency to survive.

With GM burning through $24 million of cash a day, the company will run out of money in 1,000 days or sooner unless executives make tough decisions now, Kerkorian aide Jerome York said in a speech delivered on GM territory at the Renaissance Center.

"This situation calls for the company's going into crisis mode, adopting a degree of urgency that recognizes if things don't break right, the unthinkable could happen, that time is of the essence," York told the Society of Automotive Analysts. The society represents those who advise stockholders on automotive investments.

GM Chief Financial Officer Fritz Henderson, the fast-rising executive who took over his current role Jan. 1, exchanged friendly remarks with York before the speech and applauded his remarks afterward.

"I am in crisis mode," Henderson said. "Frankly, there was a lot he had to say today that I agree with."

Until now, Kerkorian and his representatives had not spoken publicly about GM and had not interfered in management of the automaker. But York, former chief financial officer of Chrysler Corp. and IBM Corp., said Tuesday that now was the time to give a detailed remedy for GM's ills.

The owner of MGM Mirage, the gaming company that includes the MGM Grand Detroit casino, Kerkorian has a long history of using his investments to shake up companies, none more notable than during his failed takeover attempt of Chrysler Corp. a decade ago.

Kerkorian made billions from his investment in Chrysler. But last year, he lost hundreds of millions of dollars on his stake in GM as the stock price lost nearly half its value.http://www.freep.com/apps/pbcs.dll/article?AID=2005601110463

well if GM products were not so crappy thery might do better.. even the vette is shoddy these days..

yeah...that's right. The Z06 is mighty shoddy...and that new Tahoe is a piece of crap. :roll:

Chevy and GM has sucked ass for the last 10 years plus...
Drive a Ford or even a new Dodge product for 1 year or any japanese or european car and you will see..
GMs are flat our rattle traps after less than 30k miles..
everything vibrates specially in the vette and the last edition camaros..
and the SUVs please....

Funny, my gf's Civic at 25k started rattling like a MoFo, so it would seem most manufacturers have this problem.

And for those of you who keep fvcking insisted that GM builds crappy products, well trust me you would too if you were spending over $4billion every year in healthcare and legacy costs.

 

[nakedfrog]

Sounds like sound advice to me.

 

[DrPizza]

<looking into my crystal ball>
This year, everyone gets a $2000 cut in pay.

Next year, everyone gets a 4% raise which restores most of the paycut for the average worker in the factory.
Avg worker in the factory can't do math.

Executives rejoice at their 4% raise which is far greater than $2k

 

[dwcal]

Originally posted by: JulesMaximus
You're right. Those things cost all of about $100 for the part (that's the cost to the consumer) and it takes all of about 20 minutes to replace. Man, you got hosed.

Service and financing are the two big profit centers for dealers, even more so than car sales. GMAC is one of the most profitable parts of GM.

 

[ThaPerculator]

I'm so proud to live in the Detroit area nowadays...

 

[Yreka]

101. Flog the design team for the Avalanche, and Aztek mercilessly. Cut off their heads and put them on a pike in the front office to set an example to the rest of the employees.

 

[Ktulu]

Originally posted by: Yreka
101. Flog the design team for the Avalanche, and Aztek mercilessly. Cut off their heads and put them on a pike in the front office to set an example to the rest of the employees.

They aren't selling the Aztek anymore, and the Avalanche is being redesigned. So that really wouldn't be necessay. What they need to do is spend more on R&D, which they can't because it's all being sucked up by the retirees.

 

[dullard]

Originally posted by: Ktulu

Originally posted by: Yreka
101. Flog the design team for the Avalanche, and Aztek mercilessly. Cut off their heads and put them on a pike in the front office to set an example to the rest of the employees.

They aren't selling the Aztek anymore, and the Avalanche is being redesigned.

Hmm, what would be the reason the Aztek isn't selling any more and the Avalanche is being redeisnged? Could it be crappy designers? Maybe Yreka was right...

 

[ElFenix]

Originally posted by: Yreka
101. Flog the design team for the Avalanche, and Aztek mercilessly. Cut off their heads and put them on a pike in the front office to set an example to the rest of the employees.

the avalanche was nice once they offered it without the plastic armor.

 

[Ktulu]

Originally posted by: dullard

Originally posted by: Ktulu

Originally posted by: Yreka
101. Flog the design team for the Avalanche, and Aztek mercilessly. Cut off their heads and put them on a pike in the front office to set an example to the rest of the employees.

They aren't selling the Aztek anymore, and the Avalanche is being redesigned.

Hmm, what would be the reason the Aztek isn't selling any more and the Avalanche is being redeisnged? Could it be crappy designers? Maybe Yreka was right...

Please read the rest of my post :disgust: