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GM CEO Buys $1.5 M ~ Stock

1307 Views 7 Replies 6 Participants Last post by  FUZZY
-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.
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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
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