- Three former UBS officials to forgo $27 mn in compensation - Dealbook
- Banks ask for clarity on Fair Value Accounting - Reuters
- AIG exec Cassano's statements probed by prosecutors - Bloomberg
- AIG says no 2008 bonus for top execs - Reuters
- Banks may write down $44 bln in fourth quarter - Bloomberg
- 'Bailout' is word of the year - Boston Herald
I would like to think that this link/article pertaining to Cerberus vs Daimler solidifies my position on Honor, integrity, accountability, ethical decision making, business practices/transparency, etc.
The government must allow some of these unethical business practices/lending deals, sub prime loan tactics correct themselves in court, litigation, Attorney General's office, SEC, etc. The government must stop cosigning these misdeeds with our tax money and enforce governance.
I guess it's only fitting to lower taxes...No taxation without representation!
http://www.thestreet.com/story/10450329/1/cerberus-says-it-was-misled-in-chrysler-deal.html
Posted by: Trent | November 26, 2008 at 06:00 PM
Good Morning and Happy Thanksgiving to my fellow United Shareholders of America. I would like to start off this morning by assisting my fellow high priced CEOs of the big three with their homework assignment from Capital Hill.
As we experience unfortunate downturns across the board in the manufacturing sector and consumer discretion we must all remember first and foremost that we are All Americans. These are times of Great Opportunity, what was that famous saying? Now is the time for all great men to rise....
1.) Big (3) stop allowing fellow americans to declare war on your collective bargaining unit employees as if they are the reason for your problems. It's totally unfair and only further attribute to your already deficiencies and will cause mistrust among labor and management when you exit these great opportunities. These were negotiated terms with numerous concessions for your future success not to mention the good news story of insurance/health benefits for retirees and employees. (It's OK to promote you have some of the best benefits in the World for your PEOPLE, we are Americans). Now lets get to work..
2.) Stop making your first line of defense layoffs and shedding products. That's a no brainer, Americans are used to that business 101 tactic.
3.) Review your existing product lines and how they correlate with the average household size, yearly cost to operate vehicle, quality/service metric, cost to insure the vehicle, maintenance metrics, etc. Review all past business strategies/performance data for possible information manipulation.
4.) After review of model tolerance/neccesity, make appropriate model reddesigns/eliminations to product lines to compliment your potential buyers. Stop making vehicles with the hope people will buy them with no significant viable reasoning other than uneducated buyers. Produce to the viable market's needs and neccesities.
5.) Review legacy models/reputation metrics and possible errors on some makes and models. Signature example would be GM discontinuing the Oldsmobile product lines. That was the start of your demise, how many oldsmobiles are still on the streets compared to your newer models? This model was sacrificed because of lack of company talent pool with engineers, you out priced the vehicle to your legacy buyers/reputation metric, for foreign models and total disregard for consumer needs.
6.) Modify your plants to be capable of manufactoring numerous models on same product assembly line to compliment that specific geographical area. This will promote lean manufacturing, reduce cost of manufactoring, transportation/delivery cost, real time/neccesity manufactoring, consumer affordability, etc.
7.) Employee Empowerment/Education: Promote peer to peer management culture, the days of managers walking around with clips boards managing lunches, breaks, manpower, etc. are over. If you aren't a part of the physical manufacturing of the product, you are overhead. Mobilize your craft personnel to take ownership of their jobs, it will enhance employee ownership and optimize overall waste management. Reinvest in your craft personnel, the investment of employee development must meet the rewards...constant training, information sharing, mouse trap innovation, promote diversified teambuilding, departmental outreach programs.
8.) Mouse Trap Outreach; Review employee cost association to business metric. If it has an office, window view, fancy title, clip boards, staff meetings, etc. Do you need it? What cost is it to operate vs cost association to product? When was their last best Mouse Trap event? Once those questions have been anwsered cut the fat? If it doesn't sell, manufacture, develop and or value to cost control.. it's waste.
9.) Investor/Customer Outreach: Incorporate an environment of "Servitude Leadership", and Corporate Values. The investors and the potential consumers don't work for you nor will they be tempted to purchase your product because of percieved business metrics and philosophies. Sell/Promote your Business Metrics before you promote your product lines.
10.) Paradigm Boardmembers: Restructure your Board of Directors, if your boards aren't diversified and look like your customer base they have outlived their vision process. Recruit board members that are visionaries that have the time to physically manage the business and develop much needed direction...Trust But Verify!
11.) Support Outreach: Work with insurance companies, alternative energy entities, service locations to ensure your vehicles are affordable, remain affordable; keep ownership of your vehicles after the sell is made...From Plant to Driveway Packages. Consumers are becoming increasingly educated on Cost Association and Valuation Metrics.
12.) Develop a stimulus payback plan to the American People for their investment through the pricing of your vehicles not to the government! (Very Crucial) the government isn't the consumer and they have their own work to do as well with accountability.
13.) Remember Mr. Ford's Vision...That every American would be able to afford a vehicle. Not just purchase a vehicle but afford a vehicle.
14.) Terminate every individual that permitted you gentlemen to appear on Capital Hill unprepared! These are the same employees that you rely on to make numerous decisions concerning the future of your company? At least they're consistant...You Must Protect Your Boss!
15.) Thank Gettlefinger/UAW because they gave you your concessions to be competetive, he sat in support of your lack of a plan and lately has been the voice of American Pride and Sacrifice. We must declare a Truce with this War on fellow Americans, the unions aren't your problem please represent your service with Truth and Honor.
I love this country that we live in and we must be careful to remember that we have a responsiblity to be caregivers and caretakers of fellow Americans. As a fellow American I see Great Opportunites through the dust of Confusion.
Mr. Icahn, I apologize for a second posting on the same subject matter but these are very crucial times in our history. If we're not careful individual investors will continue to lose their dreams and hard earned money thru common stock devaluation. Most of us aren't smart enough or don't have time allocated to invest in PUTS, Options, Short sells, etc., we're just fellow Americans trying to save for family structure prosperity, If we can't Trust and Invest in our American dreams and rely on our government for protection...then we have lost the spirit of Tea in the Boston Harbor.
God Bless America!
Posted by: Trent | November 27, 2008 at 09:32 AM
Dear Mr Icahn,
I'm a big fan of yours and I would like the chance to ask you for your help. I would like to know the fourm that I could write to you for this help??
PLEASE SIR.
John Caruso
Palo Alto, CA
Posted by: John Caruso | December 02, 2008 at 03:16 AM