GM & Chrysler bonuses; UAW; hydrogen funding evaporated

General Motors and Chrysler to give bonuses to employees

I completely agree with General Motors and Chrysler that their salaried employees have worked long and hard hours. I understand the desire to compensate them for that work. But should employees be compensated when the company isn’t making money and the company is asking for even more money?

General Motors and Chrysler both took bailout money. Look at the differences now:

General Motors:

1. In January sales for each of the four remaining brands of General Motors were up from 19-49 percent.

2. In the first 3 quarters of 2010 profit for General Motors was $4.2 billion.

3. General Motors has already issued an IPO

4. In order for the Government to have no ownership in General Motors they have to sell their stock.

Chrysler:

1. Chrysler brand sales were down seven percent in January. The entire group was up 23 percent, but that was because of the stellar efforts put forth by Dodge and Jeep.

2. Chrysler group lost $652 million in 2010.

3. Chrysler group has not issued an IPO.

4. Chrysler group is still asking for $3 billion in DOE energy money, money that is supposed to be given only to viable long-term ongoing concerns.

The UAW:

Should the UAW be concerned about raising wages, or employing more people?

Obama has, once again, diminished the hydrogen budget. How much?

About the Author:

Lou Ann Hammond is the CEO of Carlist and Driving the Nation. She is the co-host of Real Wheels Washington Post carchat every Friday morning and is the Automotive, energy correspondent for The John Batchelor Show and a Contributor to Automotive Electronics magazine headquartered in Korea. Hammond is a member of the North American Car and Truck of the Year (NACTOY), Women's World Car of the Year (WWCOTY), and the Concept Car of the Year.