I guess I attract a very narrow demo (oops). I saw that also – I’ll check in with Lookery since that clearly isn’t correct.

• 20 hours ago

I guess I attract a very narrow demo (oops). I saw that also – I’ll check in with Lookery since that clearly isn’t correct.

• 20 hours ago

I guess I attract a very narrow demo (oops). I saw that also – I’ll check in with Lookery since that clearly isn’t correct.

• 20 hours ago

okay, but 3 CEOs from Detroit on 3 separate jets?

I don't think this plays into the overpaid CEO theme at all, as I titled my post, it's about priorities. The chutzpah demonstrated by these 3 executives flying to Washington on 3 separate private jets ($60k in costs?) to beg the government for what is essentially a handout on the basis of these companies being broke it outrageous. Keep in mind that I'm not one to blink at most corporate perks and privileges.

• 2 days ago

Yeah – this one seems to be a polarizing issue, especially among the people who think Ayn Rand writes philosophy!

I think “bankruptcy” is misunderstood. There’s a huge difference between a liquidation (Chapter 7) and a controlled Chapter 11 where the US government provides the DIP financing, wipes out the value of the common stock, provides capital for a real restructuring, and preserves the appropriate pension liabilities. I’d never suggest that we should liquidate these companies. Nor do I really think I know the answer. However, I do believe that “just giving them $10 billion per company” isn’t likely to solve much of anything the way things have played out in the past.

That was what really prompted my “Take Responsibility For Your Actions” comment. I’ve been an investor and an entrepreneur in a number of companies that have failed. Whenever they failed, there was pain and I lost all the money I had invested in them. I recognize this is on a smaller scale, but I take every failure personally and try to learn from it. It doesn’t seem like any of the current leadership of these companies really understand this, especially when they are – in the words of someone I heard today – totally “tone deaf” about things like flying from Detroit to DC on private planes. It’s a picky detail, but a symbolic one.

• 2 days ago