Re: Delphi\'s Bankruptcy
</font><font color="blue" class="small">( He forgot one BIG thing. He talked about all the red ink in the retirement, wages and contracts, but he did not mention the inflated, silly, over paid salaries of himself and the other CEO's of companies having a hard time paying retirement and wages to the ones that do the actual manufacturing etc. )</font>
That manufacturing could not be done without people like him.
In a few posts down you will see where MikePa makes a comment about CEO's wages not making a difference as far a companies performance financially. I agree with Mike completely. Why because I own a company that employs over 80 people. The ratio of employees versus management is quiet high. I think another thing is too most executive in the majority of the corporations today such as mine the CEO has personal guarantees. In the very large ones this is not true. You also best remember that it is because of CEO's that most of you have jobs today. If you don't look at it that way then I suspect your just looking for a free ticket. Northwest Airlines is going through the same thing here in Minnesota. Alls the union people can do is point fingers at the CEO's wages. In Delphi's situation I beleive the CEO's are taking a cut. Heck take the wages of the CEO's away from them and it still would not bail them out.
As for me, I will tell you. I started my business in 1987, I quit my job making $45k per year and gave my self a starting wage of $15k per year in my business adventure. I hired 4 employees and paid them each 25 to 35K per year. As you can see no one wanted to share the wealth at that time. Over the years I borrowed money, paid it back, looked for expansion possibilities and even borrowed more, paid it back, all the time my employees thinking they needed more money. Over the years I built my wages up to $150K, built a nice house, bought a small cabin and almost had it all paid for. Now the economy has taken a hit, my wages are back down to 75K, I have borrowed all I could on my house and cabin to keep the business funtioning or should I say keep the people working. I have over twenty employees, field employees that will make more money than me this year. And yep, no one wants to share the wealth again. In fact many of them have come to me and demanded raises. When I told them there was no room for raises and why, they would say to me, "that they don't care about me or the financial position of the company" They are only concerned about themselves. And that hurts people. This same situation is more of the norm than not. For every one big company that we read about in the papers there is 5000 small ones just like mine in the same situation.
As far as I am concerned I should have seen the setbacks coming and closed the company two years ago. As I see it today I am a **** boss either way.
I seriously think everyone whether they are taking a cut in pay or not should just sit down tonight and thank the Lord for being able to work and have a job. Cause if I would have done what I should have two years ago, there would be 80 people here out of work. And trust me, they have found they can't go to the competition as they are not hiring either. If you still complain, then you have an option, go out and start your own business once and see what it is like on the other side. The CEO's more than likely deserve a more than great wage. It is me that has taken all the risks, not the employees, as far as I am concerned, it is none of the workers business as to what the CEO's make. While my employees are upset about not being able to buy that next truck, I get to worry about having food on the table for the 80 people. And if my business doesn't make it, I assure you it will be my table that won't have food on it first. The whole country is not in a good situation, be thankful you have food. And also one other thing, I am putting more over 65 hours in every week right now to help keep everything going while my 80 people ***** and complain if they have to put in any overtime.
Next time you see a CEO, maybe you want to thank him.
my 2 cents
murph
One other thing, you think as an owner I have all kinds of benefits, think twice, I don't get any insurance free, I don't get any gas free, I don't get anything free. Everything I need for myself personally I pay for. My wife has even taken on a job to help pay for our personal things. And since I refinance my house I can't take another cut in pay or I will loose my house.
