Chevy SSR Forum banner
  • Hey everyone! Enter your ride HERE to be a part of this month's Ride of the Month Challenge!

1 - 8 of 8 Posts

·
Administrator
PEDIGREE SSR
Joined
·
8,714 Posts
Discussion Starter · #1 ·
-The Detroit News

General Motors Corp. CEO Rick Wagoner bought $1.5 million of GM shares Monday in what he described as a vote of confidence in the struggling automaker.
 

·
Enjoying life as it comes
Joined
·
5,210 Posts
What Your Saying Is?

Rick is giving up a years salary to help out the mother GM? :confused

That's a nice gesture on his part, but that doesn't help with the poeple that will be getting laid off. According to rumors here in Janesville after the lengthy shut down they will be laying off 386 employees, most of which have 5 years or less in the company.
:rant What gets me here is that the union folk voted in a 30 and out rule 20+ years ago so that some of the lesser seniority employees could move up and get the cushier positions. Most of them whom now have 40 years or more in (some even have 50+), and refuse to leave to allow newer employees to move up the ladder and support their growing families. Most of these poeple pushed hard to get this rule enforced many years ago and now feel that it is unfair to them now that they are in the 30 and out area.
My two cents equates to, you wanted it, you got it, stand by it, and move on. Allow young families to have the oppertunity, that you did in your early life.

It's only my opinion, but I stand behind everything I build and do. If it's right? great. If it's wrong? make it right, reguardless.

Sorry for the ranting, but just had to vent a little this morning. So much to be done and not enough hours in the day to do them.
 

·
Administrator
PEDIGREE SSR
Joined
·
8,714 Posts
Discussion Starter · #3 ·
Updated Comments

CEO Boosts GM with $1.5 Million Buy
The Detroit News


March 22, 2005

By David Phillips

General Motors Corp. CEO Rick Wagoner bought $1.5 million of GM shares Monday in what he described as a vote of confidence in the struggling automaker.

GM jolted investors last week when it warned its 2005 profits will be as much as 80 percent below forecasts.

"It's the best kind of signal that a CEO has confidence in a company's outlook when he puts real money down," Stanford University business expert Robert M. Daines said.

Wagoner bought 50,000 shares at an average price of about $29.65. He now holds 192,932 GM shares, according to Bloomberg News.

"This is a personal investment decision for me and it demonstrates my confidence in the long-term prospects for GM," Wagoner said.

GM shares jumped $1.07 Monday to close at $29.69 in New York Stock Exchange trading. GM shares have tumbled 33 percent since March 15.
 

·
Registered
Joined
·
590 Posts
When To Sell

Martha Stew... can give him some tips when to sell, he should do well on his investment :lol
 

·
Premium Member
Joined
·
6,400 Posts
FUZZY said:
Rick is giving up a years salary to help out the mother GM? :confused

That's a nice gesture on his part, but that doesn't help with the poeple that will be getting laid off. According to rumors here in Janesville after the lengthy shut down they will be laying off 386 employees, most of which have 5 years or less in the company.
:rant What gets me here is that the union folk voted in a 30 and out rule 20+ years ago so that some of the lesser seniority employees could move up and get the cushier positions. Most of them whom now have 40 years or more in (some even have 50+), and refuse to leave to allow newer employees to move up the ladder and support their growing families. Most of these poeple pushed hard to get this rule enforced many years ago and now feel that it is unfair to them now that they are in the 30 and out area.
My two cents equates to, you wanted it, you got it, stand by it, and move on. Allow young families to have the oppertunity, that you did in your early life.

It's only my opinion, but I stand behind everything I build and do. If it's right? great. If it's wrong? make it right, reguardless.

Sorry for the ranting, but just had to vent a little this morning. So much to be done and not enough hours in the day to do them.
:agree :agree :agree
Same in our GM plant. More so in the next 5 years!

Scott 0168
 

·
Registered
Joined
·
1,502 Posts
30 and out...

What gets me here is that the union folk voted in a 30 and out rule 20+ years ago
30 and out? I'm assuming the "out" was retirement under a pension that provided what was considered acceptable income.

What's different now?
 

·
Enjoying life as it comes
Joined
·
5,210 Posts
30 and out ment just that. 30 years in the company and you retired with pension and possibly S.S. if you were old enought to recieve it. When they were the younger they thought this to be a great plan, but now that they're in this boat they don't think it's a fair deal for them.
 
1 - 8 of 8 Posts
Top