Wagoner emphasized the importance of making strategic decisions based on the long-term goals of a company. …gotta love it!
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Kinda unfair comparison.
Bush wouldn’t be a ‘yalie’ if it weren’t for his father. He’d simply be a failed oil businessman if it weren’t for his father. He wouldn’t be an ex-POTUS if it weren’t for his father.
Wagoner was shackled by contracts with the union. Many argued about what the GM workers were really paid an hr but the fact is it was high and Wagoner really couldn’t do anything about it. Look, the GM is literally days/weeks away from bankruptcy without loans from US Govt and still, the unions are barely budging. If I were in charge of the union, I’d basically agree to anything to keep the company going and keep job, even if it meant big pay cuts…
Their ‘solutions’ are smaller and slower than the problems they are facing…
FYI, just passing on a story that many here may not be aware of since this news is from S. Korea. The union representing 6500 shipyard workers at the Hyundai Shipyard in Ulsan, South Korea, recently pledged not to go on a strike for the next 3 years to help the company weather the global economic crisis. I think they also pledged not to oppose any kind of pay cuts that may be implemented by the employer. Granted the shipyard has enough orders to keep them busy for the next 3 years but they did get hurt by the economic crisis. For a few months the shipyard didn’t pick up any new order which is unheard of…
