On The Bailout Plan and Our Financial Mess

By Richard “Dick” Olson

 

I retired from a fortune 100 US manufacturing Corporation in 2005 and now live on a meager pension and SSI.

 

1. When the economy was tough, the CEO / President would issue an Executive Order as follows: Congress First!

2. Reduce overhead!

a. All executives take a 30% pay cut.

b. Reduce staff by 30%.

3. Eliminate unnecessary travel; restricted to only essential sales & executive travel.

4. Reduce expenses and limit to only those essential with the conducting of business.

5. Absolutely suspend any profit sharing or bonus plans.

6. Pressure suppliers / contractors to reduce costs likewise.

 

AS ONE OF HIS FINAL EXECUTIVE ORDERS, PRESIDENT BUSH SHOULD ISSUE AN EXECUTIVE ORDER WITH THE ABOVE REQUIREMENTS. In addition, any company or corporation participating in the federal bailout program must comply or funds shall be withheld and executives will be found in contempt.

 

THIS EXECUTIVE ORDER WOULD HAVE CONGRESS SET AN EXAMPLE FOR THE FINANCIAL AND MANUFACTURING SEGMENTS OF THE USA.

 

A condition Auto Makers should have is to sell their existing inventory at a loss or below costs to generate cash. (Before they get Taxpayer funds)

 

The USA is in a critical situation and the executive order would be justified.