Employe discount to go!

[coiran]

I just took out a new lease on a 2008 Impala for the wife. Our old 2006 lease was up the enf ov November. They got me out of it and into tje old lease program, which is ending Monday August 18. After that rates will go up and residuals will go down making leasing more unattractive.

Joking with the salesman I said " The next thing they will take away from the salary and salary retiree will be the employe discount". He stated that it is already in the works, most likely for salary only.

I fear GM is going to lose all of their salary loyalty, not to mention salary employes who can find better jobs elsewhere where the employer does not treat you as disposable.

I predict that "Ricky" and some of his cronies will be gone in a few years. Remember Bob Eaton? He was a VP at GM, left and became CEO at Chrysler. After a few years there he and our good friend Bob Lutz engineered a deal to sell the company to Daimler, knowing it was on the downhill. Eaton walked out of that with a cool $80 Million and Lutz with a cool $50 million. And who hired Lutz, why GM of course. All he has done for GM is the Solstice while lining his portfolio with many more millions. I look for Ricky and him to try to pull off the same deal with GM. Trouble is they may have a hard time finding a buyer, but it can be done at the shareholders expense.

Remember the GM guy that took over Delphi when GM dumped it? He walked off with a multi million dollar buyout after he saw Delphi going down the tubes. Now he and Eaton are neighbors in Florida laughing on their way to the bank everyday before golfing.

[carlintexas]

Somebody (Board of Directors) had to give these guys the 'deal' they got.....and if so - why. And if so, they ought to be the first to go!

If a NFL owner offers a player a 40 million $ contract - they're gonna take it. Where does the money come from? TV money. Where does TV money come from - advertisers. Where does advertiser money come from - people (us) who buy products.

With corporate 'golden parachutes', if the corp is profitable the money comes from profits, effectively taking it away from stockholder dividends. If the corp is not so profitable, the stock falls and the value to the stockholder declines. In either case, stockholders bite the bullet.

All you can do is hope these guys are paying full boat taxes to the feds and that they are spending most of their ill-gotten gains and thereby feeding the economy.

[byebyebaby]

It comes from the rest of the general public that pays the price for the product. They don't get the special "employee discount" pricing.

[coiran]

Originally Posted by byebyebaby It comes from the rest of the general public that pays the price for the product. They don't get the special "employee discount" pricing.

Well I hope they get a lot of non GM customers. I have bought my last GM car.

I was a loyal salary employe for 34 years. Since retiring sll they have done is take from me and give to the hourly. I spent five years in college to make something of myself.
The hourly GM workers have a much better retirement plan than I have. I could have been aa high school dropout ant worked hourly for GM and be better off.

Ron

[Sly Bob]

Let's not panic just yet. They haven't taken it away.

[Devoking]

Originally Posted by Sly Bob Let's not panic just yet. They haven't taken it away.

True!

Not too sure exactly where the "damage control" will lead us, at this point there are tons of rumors flying.

I really hope the "big" boys don't go out of control and panic.

If they remain calm and just focus on making affordable, reliable, "good looking" vehicles we can weather this storm.

[coiran]

Originally Posted by Devoking True! Not too sure exactly where the "damage control" will lead us, at this point there are tons of rumors flying. I really hope the "big" boys don't go out of control and panic. If they remain calm and just focus on making affordable, reliable, "good looking" vehicles we can weather this storm.

You don't have to worry - being hourly - They just take from the salary. Kind of like the Robinhood theory in reverse.

Ron

[jwally]

Well, for us salary retirees 65 and over they are eliminating our insurance the first of the year. If they take away GMS for us, I have bought my last GM automobile.

Hope that doesn't happen, tho.