While the CEO of the big american car companies of Detroit were sleeping at the wheel tired of drinking their cool-aid of fat pay checks, a small company in China was building the car of the future.I was surprised tonight to learn from the news that China will launch a true electric car next year on the american market ;it is already in mass production.
However, the three Executives of the three american companies area asking the Congress of the United States to bail them out.Do these morons deserve the millions they siphoned from these companies every year while their R&D departments are not receiving the proper financing needed to mass produced an electric car?
I do not konw what President Obama will do after March 31 with these companies ,but if I were Mr Obama counselor the first thing I would advise him to do is to ask for the restructuration of these companies before giving them one cent .There should be some changes in the management of these companies for them to be profitable in the future.Not long ago there was a comparison between the Honda Motor Company Ceo's compensations and the big three american auto executives.The American CEOs are making on average 15 more times than the japanese auto executives.One wonders why.How can the Board of Directors of these companies justify these salaries while the companies are loosing bilion of dollars every year?
There should be more legislations, regulations and oversights of the relations that exist between the Executives of the american companies and their Boards of Directors.These people form gangs to siphoned money from these companies.How one explains the compensations for the departing CEO of Home Depot.The salaries of these three Executives?The Congress of the United States should pay more attention to the management of these companies.No CEO should be paid more than 2 million dollars while the President of the United sates salary is less than 1/2 million dollar a year.
The future electric american cars will cost approximately 42.000 dollars;the chinese's electric cars will cost only 22.000 dollars.How can the american companies expect to compete with the chinese company on the world markets with an electric car so expensive?The automobile industry Executives should realize no matter what the Congress or the President of The United States does; unless they change their way of doing business they will have to lay-off their workers until the time comes for them to stop producing cars in the United Sates.The United Sates companies no longer have the superiority in technology they enjoyed during the decades of the 50's and 60's.