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Archive for May 30th, 2008

Quotabull

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Exxon Mobil is acting like a dinosaur now, not adopting to a changing environment.

— Stephen Viederman, a New York shareholder, after “Exxon Mobil’s chairman and chief executive, Rex W. Tillerson, defeated a shareholder effort … to take away one of his jobs at an annual meeting punctuated by a debate of the company’s policy toward renewable energy and global warming”; May 28.

Despite significant challenges in the U.S. market, we continue to reshape our business for long-term success. This attrition program gives us an opportunity to restructure our U.S. work force through the entry-level wage and benefit structure for new hourly employees.

— from a statement by Troy A. Clarke, the president of G.M.’s North American operations, announcing that “19,000 hourly workers — a quarter of a unionized work force that already has been drastically pared down — have accepted buyouts“; up to 16,000 of these $28-an-hour workers may be replaced by “entry-level” non-assembly workers making $14 an hour; May 30; emphasis added.
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Written by Dr. Denny Wilkins

May 30, 2008 at 12:52 pm

Posted in Uncategorized