Hey, GM, no bonuses until the bailout is repaid

General Motors is reporting record profits for 2011 and has announced it will reward employees with $7,000 bonuses. ’Scuse me? Bad enough the execs got huge bonuses for doing nothing more than accept a massive taxpayer-funded bailout. Now they’re giving bonuses to all the employees? Hey, pay back the damn taxpayers first! The employees should be more than happy just to have their jobs. No bonuses till all the bailout money is repaid. Period.

 

11 comments

        1. With both the auto and bank bailouts, nobody should have gotten a bonus until the loans were fully repaid. (Of course, nobody should have gotten a bailout in the first place, IMHO.)

    1. Excellent clip, Ima; it clarifies things a lot. While I agree with Pied that it is too early for bonuses I can’t help feeling a sense of optimism about the resurgence, especially since I as a taxpayer am a passive stockholder. Now let’s hope that the Treasury Department also has better accountants than GM does and all the money actually does get paid back in a year or two.

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