Monster Trucks Shut Down!

Today GM announced the closing of four truck plants. They are considering ending production on the Hummer line of vehicle. GM CEO Rick Wagoner, cites that gasoline going above $4 a gallon represents ``a structural change, not just a cyclical change.'' Is this guy brilliant? I mean do you make vehicles just because people might buy them? Or do you look at the global economic situation?

Almost every country on the planet is full of super efficient small vehicles. Even the trucks are micro-sized, but for some feat of stupidity, CEO's of American car companies continued to make monster sized trucks with lower and lower efficiency until their Rosemary's Baby, the Hummer, was born. For me, this is akin to selling crack or heroin. People will buy it, but is it good for them?

Well, the dope dealer just got busted by Officer Reality.
The plant closings will mean the loss of almost 8,000 jobs.

But I know Cannibal Planet dwellers are really interested in Rick Wagoner's situation.
How many babies does this guy eat for breakfast while mismanaging one of the bedrock industries of America? What does he get for failing to show a profit for four years and driving the stock price down from $54/share in 2004 to $17 today?

$14,415,914

That's each year. So over the four years of driving a losing Hummer to the car lot of oblivion, he made $50 million. Fully a criminal cannibal.

In Cannibal Planet style, let's save these 8,000 jobs.
Can we do it?
Yes we can!

Every company has a bunch of executives that are paid way too much money. GM is no different. Here are some of their annual compensations:
Gary Cowger DVP $5 million
Fred Hendersen COO $7.6 million
Robert Lutz DVC $6.9 million
Thomas Stephens EVP $4.9 million

There are twenty of these guys and two gals making an average of $6 million a year. More if you go down the feed chain, but let's stay at the top.

Along with the Rick's pick, that's $146 million per year. Let's par that down to a more humane, and representative of their poor work, $250k per year. That leaves over $14o million. Over the 4 years of poor performance that is $560 million. Could a half a billion dollars be enough to transition these 8,000 workers into GM jobs making micro and electric cars? I think so. Regardless, saving $140 million a year could save over 2000 living wage jobs.

Can I get my consulting fee now?

BTW Hummer's suck. Notice the Jeep passing the Hummer in the second shot.