GM Video Scares up Support
General Motor’s posted a video on YouTube that is supposed to scare people into donating Billions of needed funds to stabilize their operating budget.
According to Joe Weisenthal of ClusterStock:
GM (GM) says we still don’t get it. If we don’t save them, they’re gonna nuke the economy to all hell. In case dire warnings of billions and billions in losses aren’t enough to freak you out, the company has posted a scare-video on YouTube, complete with ominous music and the kind of overwrought imagery you might got during a preview for 60 Minutes.
In an apparent attempt to save the company GM is reportedly cutting the extravagance according to USA Today.
- Reduced office supplies. GM used to stock for every possible stationery need. No longer. “The office supply cabinets have only the bare minimum now — inexpensive pads, a few roller-ball pens and wooden pencils,” spokesman Tom Wilkinson says.
- No raises. White-collar workers won’t get bonuses, raises or 401(k) retirement savings matches.
- Pricier company cars. As of last summer, executives had to pay $100 more a month to use a company car and can’t rotate to new ones as often.
Make you own opinion – I wonder if Exec’s are joining in the cutbacks. Probably not. I bet cutting 1 corporate jet would save the same amount as not buying office supplies.