General Motors Likes 'Being Able to Fire People'

General Motors Likes 'Being Able to Fire People'

Recall the gi-normous Leftist kerfuffle kicked up around Republican Presidential candidate Mitt Romney’s utterly uncontroversial utterance:

“I like being able to fire people who provide services to me.”

Which is a perfectly reasonable perspective.  So of course the Left went apoplectic. 

Romney’s ‘Like to Fire People’ Comment Starts Verbal Bonfire

(Democratic National Committee Chairwoman Debbie) Wasserman Schultz, in a statement, slammed Romney for “saying yesterday he has thought he might get a pink slip and today that he likes to fire people.”…

A super PAC established by allies of President Obama put out a statement slamming Romney for his work at Bain.

D’oh! Romney Says ‘I Like Being Able To Fire People’Talking Points Memo

Bain of His Existence – Slate

Romney: I like being able to fire people! – Democratic Underground

The alternative to getting rid of people who stink on ice – embodied most often in governments, unions and government unions – is the Un-Fire-ables.  

Federal Workers More Likely to Die Than Get Fired

Millions Wasted Paying State Workers to Do Nothing

New York Teachers Paid To Do Nothing: 700 Of Them

We the Taxpayers handed General Motors (GM) and Chrysler $82 billion in bailout coin – on which we’re poised to lose $30+ billion – ostensibly to save gigs.  But from the outset, they’ve been canning people all over the place.

2009 was not a good year if you were a Republican-donating GM or Chrysler dealer

(M)ultiple (auto bailout recipient Chrysler and General Motors) dealers who have been closed are found to have contributed millions to Republicans and mere hundreds to Obama….

“It became clear to us that Chrysler does not see the wisdom of terminating 25 percent of its dealers. It really wasn’t Chrysler’s decision. They are under enormous pressure from the President (Obama)’s automotive task force,” said attorney Leonard Bellavia.

And then there is GM Europe.  Which has for years been dismal.  And President Barack Obama-appointee CEO Dan Akerson has been doing his Grim Reaper impersonation.

GM Heads Roll in Europe

GM intends to shed another 500 managers in Europe, adding to the 8,000 factory workers let go over the past three years as part of a massive though only modestly successful push to cut costs.

GM Shakes Up Europe, Again

GM CEO Akerson Fired Opel Head on Europe Trip

Shakeup at Opel Continues, 2 More Execs Replaced

And here is the Leftist outrage at GMs proletariat carnage:

Akerson appears quite adept at laying waste to employees.  How’s he doing at his day job – getting GM recovered from the bailout bankruptcy?

GM stock hits record low since IPO

The Detroit-based automaker’s stock price per share fell to as low as $18.85. Its previous low of $19 occurred in December….

During the company’s annual shareholder meeting last month, GM CEO and Chairman Dan Akerson said global economic uncertainty along with its troubled European operations and pension obligations were hindering the stock’s performance.

Wait a second.  Akerson blames its “troubled European operations” for the plummeting stock.  As we just discussed, GM Europe has been struggling for years.  This is not a new phenomenon that would add inordinately to GM’s pathetic stock performance.

Wait another second.  Akerson also blames its “pension obligations.”  Which – while admittedly growing as their slice of the Baby Boomers retire – is also not a new phenomenon.

And it was a problem they should have been rid of after the bankruptcy.  Except the Obama Administration eviscerated 200+ years of bankruptcy law to illegally carry forward the United Auto Workers (UAW) union contracts – in tact and fully paid. 

In other words, the main thing that dragged down pre-bailout GM – is still dragging down post-bailout GM.  Because the Administration wanted to pay off their Democrat cronies – with tens of billions of Taxpayer dollars.

All of which is a large part of why GMs stock price continues to tank.  And herein is even more great news for We the Taxpayers.

We are still stuck with 500+ million shares of the stuff.  For us to break even, they must be sold at $53 per.  They debuted post-bankruptcy at $33 per.  They closed on Tuesday at $19.02 per.  Setting us up for a nearly $17 billion loss – just on the stock.

All of which begs a question.  When will Akerson execute the most appropriate and important firing of all – himself?