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 thoughts on “Hey, GM, no bonuses until the bailout is repaid”
Weren’t there clauses that no bonuses until we were paid back? Or perhaps I just dreamed that because it…well… makes sense.
There you go thinking. Or dreaming. It makes way too much sense for politicians to have thought of it. GM still owes $25 billion on the bailout (http://www.inquisitr.com/187614/132-9-billion-still-owed-to-tax-payers-from-bailout/).
Oh, crickey! I’m sure the employees deserve it, but we deserve to be paid back first. The top dogs should waive there’s, since they make so damn much, and all would be good. Well, better anyway.
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.)
I’d forgotten about this grandiose and totally deceitful claim.
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.
This drives me insane. There were bonuses last year, too…(it’s true – young relative was able to go to Hawaii – nice kid, but…that’s my money …) CRAZY over this
So much about those bailouts was so wrong …