Saving the US Auto Industry

tw · 11-25-2008, 07:26 PM

From the Wall Street Journal of 26 Nov 2008:

Quote:

American International Group Inc., the struggling insurance giant that needed a $150 billion government bailout, put new restrictions on its executives' compensation, including a $1 base salary for its chief executive and elimination of bonuses in 2008 and raises through 2009 for its top seven officers.

The company also said there will be no raises through 2009 for the 50 next-highest executives.

This should not be news. This should be routine and always required.

View Poll Results: Do you support saving the US auto companies with tax payer money?
I support saving any one or all of them.	1	3.13%
I support assisting them for a limited time with a limited amount.	11	34.38%
I don't support saving them.	19	59.38%
I have another plan to save them from certain death (explain below)	1	3.13%
Voters: 32. You may not vote on this poll

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