It may not be the kindest of words but incoming U.S. president has said that if the automobile industry is to survive their financial worries then perhaps asking the fat-salaried executives to step down is a key move that can save them on financial problems. It is nothing personal but practical. There are executives in these companies that procure a large part of their income and if nothing is done about it, it is obvious that they will go bankrupt due to financial mismanagement.
It is not the best news that the leading car companies would want to hear. In fact, they are waiting for the financial support to help them get through their financial worries. However, it just doesn’t seem right to rely on the government for financial bailout at this time. What are these executives doing in the companies since they are supposed to be the ones thinking of ways to get by these hard times?
The situation is nothing new. Some of them have been there in the past and normally they would be expected to draw up some plans to help their companies make it through. Today, the external factor of economic catastrophe is a given but it should not be the reason for them to wave the white flag of surrender. There is definitely an alternative and apparently they are not looking at all possible angles. So why keep them if they cannot do anything at all?
Originally posted on December 7, 2008 @ 10:25 pm