Comments on: Thick Strings for Auto Bailout? http://socratesvotes.com/2008/12/04/thick-strings-for-auto-bailout/ Political Philosophy and Applied Ethics for Regular Folks Sat, 26 Nov 2011 12:18:15 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Matt http://socratesvotes.com/2008/12/04/thick-strings-for-auto-bailout/comment-page-1/#comment-149 Matt Wed, 10 Dec 2008 21:12:48 +0000 http://socratesvotes.com/?p=464#comment-149 Mel—cool. I hope Congress agrees. Matteson—cool. I'll see if I can't find that paper online somewhere (or you can just email it to me). Moriarty? What a cool name. And leave our precious coaches alone. Mindy—not cool (because your husband crushed my fantasy football playoff hopes). Stever—cool. Great idea in <a href="http://blog.steverrobbins.com/bizblog/a-modest-proposal-for-rescuing-the-auto-industry-216" rel="nofollow">that blog post</a>: "I’m happy to have taxpayers bail out Detroit, but with a condition: we auction off the CEO jobs at Ford, Chrysler, and GM. The highest bidder gets the job." I wonder who'd actually bid on that... All—last check it looks like there will be strings, but we'll have to wait for the final bill to see what they are. —Matt— Mel—cool. I hope Congress agrees.

Matteson—cool. I’ll see if I can’t find that paper online somewhere (or you can just email it to me). Moriarty? What a cool name. And leave our precious coaches alone.

Mindy—not cool (because your husband crushed my fantasy football playoff hopes).

Stever—cool. Great idea in that blog post: “I’m happy to have taxpayers bail out Detroit, but with a condition: we auction off the CEO jobs at Ford, Chrysler, and GM. The highest bidder gets the job.” I wonder who’d actually bid on that…

All—last check it looks like there will be strings, but we’ll have to wait for the final bill to see what they are.

—Matt—

]]> By: Stever Robbins http://socratesvotes.com/2008/12/04/thick-strings-for-auto-bailout/comment-page-1/#comment-146 Stever Robbins Tue, 09 Dec 2008 22:32:02 +0000 http://socratesvotes.com/?p=464#comment-146 As I write in <a href="http://blog.steverrobbins.com/bizblog/a-modest-proposal-for-rescuing-the-auto-industry-216" rel="nofollow">my blog posting on the auto industry,</a> I've never bought into the idea that pay gets you quality talent, especially at the leadership level. In the startup world, we hire CEOs for passion, belief, vision, and execution ability, and we can't even pretend to pay them megabucks. For some reason, corporate America only considers people for the job who have outrageous salary requirements. My attitude is: if someone needs a hundred million dollars worth of stock options to motivate them to do the job we're paying them a salary for, they don't have the attitude I want running my business. As I write in my blog posting on the auto industry, I’ve never bought into the idea that pay gets you quality talent, especially at the leadership level. In the startup world, we hire CEOs for passion, belief, vision, and execution ability, and we can’t even pretend to pay them megabucks. For some reason, corporate America only considers people for the job who have outrageous salary requirements. My attitude is: if someone needs a hundred million dollars worth of stock options to motivate them to do the job we’re paying them a salary for, they don’t have the attitude I want running my business.

]]> By: Mindy http://socratesvotes.com/2008/12/04/thick-strings-for-auto-bailout/comment-page-1/#comment-145 Mindy Tue, 09 Dec 2008 04:48:16 +0000 http://socratesvotes.com/?p=464#comment-145 Yep, I agree. Yep, I agree.

]]> By: Matteson http://socratesvotes.com/2008/12/04/thick-strings-for-auto-bailout/comment-page-1/#comment-139 Matteson Sun, 07 Dec 2008 22:01:48 +0000 http://socratesvotes.com/?p=464#comment-139 There have to be big strings. I hate the idea of bailing them out, but if it is going to happen then they need to meet the demands of the people they are asking for money. Since the gov is the only place they're likely to get $25 billion they'd better meet our demands. That being said, I sure hope that the gov remembers that they can attach strings and make demands. They're in a situation where they hold all of the power and they should use it. Doing the auto companies a favor isn't a good idea. Bending them to our collective will might be a good idea. I'd feel much differently if they had shown any predilection to bend to the will of the Market, but they haven't. It's just a shame that these damn companies are the only viable form of income for so many people who work for them. If you're interested in the idea of CEO pay you might read a paper by my friend Jeff Moriarty. He contends that their pay is not justifiable by any ethical standard. (I might also point out how this relates to the pay check of collegiate sports coaches...) There have to be big strings. I hate the idea of bailing them out, but if it is going to happen then they need to meet the demands of the people they are asking for money. Since the gov is the only place they’re likely to get $25 billion they’d better meet our demands.

That being said, I sure hope that the gov remembers that they can attach strings and make demands. They’re in a situation where they hold all of the power and they should use it. Doing the auto companies a favor isn’t a good idea. Bending them to our collective will might be a good idea.

I’d feel much differently if they had shown any predilection to bend to the will of the Market, but they haven’t. It’s just a shame that these damn companies are the only viable form of income for so many people who work for them.

If you’re interested in the idea of CEO pay you might read a paper by my friend Jeff Moriarty. He contends that their pay is not justifiable by any ethical standard. (I might also point out how this relates to the pay check of collegiate sports coaches…)

]]> By: Mel http://socratesvotes.com/2008/12/04/thick-strings-for-auto-bailout/comment-page-1/#comment-138 Mel Fri, 05 Dec 2008 13:54:11 +0000 http://socratesvotes.com/?p=464#comment-138 I don't have much else to say except I agree! Why not? If they wanted to run the company the way they wanted, they should have fed back into it instead of lining their own pockets (or fueling their jets...) I've been waiting with anticipation for some kind of change away from fossil fuels, at least in part, and I'm all for pushing them around a bit to get what will help in the long term. I don’t have much else to say except I agree!
Why not?
If they wanted to run the company the way they wanted, they should have fed back into it instead of lining their own pockets (or fueling their jets…)
I’ve been waiting with anticipation for some kind of change away from fossil fuels, at least in part, and I’m all for pushing them around a bit to get what will help in the long term.

]]>