The Truth About Post-Bailout Pay Restrictions: They Are A Lie

What’s 10 million these days – give the man a raise!

Up until the mid-1800s, debtor’s prison did await those who could not pay their debts. To this day, more than a third of U.S. states allow debtors to be jailed for non-payment. If you run a company called GM, Ally, or AIG, not only do you keep your freedom, you will be bailed out by the government, and given a $10 million salary. Waitaminute, you say, aren’t executive salaries of bailed-out companies limited to a still very generous $500,000? This is exactly the question the special inspector general for the Troubled Assets Relief Program asked. The answer, provided in a report to Treasury Tim Geithner, and the public, is scathing: The Treasury Department ignored its own rules and approved “excessive pay packages” for the leaders of bailed-out companies.

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Bailed-Out GM Wants To Help Bailed-Out Ally With Some Of Its Bail-Out Money. Investors Not Amused

Bailed-out GM might sink $2 to $4 billion into likewise bailed-out Ally Financial to buy some of the lender’s international operations. Ally “ironically wants to use the proceeds to help repay its own federal bailout aid,” says Reuters. That plan does not sit too well with some observers. Says the wire: “Analysts and investors disagree on whether that would be the best use of cash, with some preferring a stock buyback or dividend payment.”

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Obama Snubs Foreign OEMs At D.C. Auto Show

Foreign OEMs put on a dog and pony show at the Washington D.C. auto show in anticipation of President Obama’s visit, but were ultimately snubbed when the President decided to check out some American iron instead.

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  • MaintenanceCosts This looks really surprisingly different from the Blazer EV. It's more boring, but it's also more Honda, and for that reason alone it will be taken a lot more seriously in US markets.
  • ToolGuy I found this interesting; you might too: https://youtu.be/asb4jLWWTbQ
  • SCE to AUX Q: "How do you fix automotive media?A: The same way you fix the auto show.That is to say: Don't live in the past, believing every story is original with you. Offer something insightful and useful to your audience that they can't get anywhere else.The auto show allows consumers to sit inside many vehicles under one roof, without sales pressure - something unavailable anywhere else. That's it. The media should accept that the auto show offers nothing new for them anymore, and the auto show should stop pretending that it does.Good examples:[list][*]I've flamed Posky many times, but his long background stories can be thought-provoking and informative. I may not always agree with some of the posturing, but at least they dig deeper than someone's press release.[/*][*]Alex on Autos has some of the best video reviews. He wastes absolutely no time getting to the substance, and his formula is reliable. He packs a lot into 25 minutes.[/*][*]Everyday Reviews: This likeable couple/family covers the daily life aspects of new cars they test - child car seats, user interface, fuel economy, and so on. No hype - just useful.[/*][/list]Bad examples:[list][*]DragTimes: In a 20-minute video, you get 1 minute of racing and 19 minutes of bromance talk. I keep hoping it will improve, but it doesn't.[/*][*]Road and Track's web page is heavily tilted toward unaffordable niche sports cars and racing, with a few feature articles on daily drivers. I visit, but it feels like I'm in a Porsche dealership.[/*][/list]
  • BSttac Honestly automotive journalism is all but dead. Its mostly bloggers with a left based agenda. Cnet and the Drive especially had some really horrible bloggers. Road and Track also has some terrible bloggers so it would not surprise me if they are next. Just look at most bloggers complain about going to an automotive show when they dont realize its not even for them. Very spoiled and out of touch individuals
  • Jkross22 I forgot to include Bring a Trailer. It's so enjoyable to revisit cars from different eras and to read what the most knowlegable have to say about those types of cars.