Why is GM sacrificing jobs for profits, laying off 1000 employees yesterday to save costs while spending $6 billion in stock buy backs & paying nearly $30 million to its CEO? Democrats must stand for those being shafted. Restrict stock buy backs & tax excessive executive pay. - ThreadSky

rokhanna.bsky.social • 90 days ago

Why is GM sacrificing jobs for profits, laying off 1000 employees yesterday to save costs while spending $6 billion in stock buy backs & paying nearly $30 million to its CEO? Democrats must stand for those being shafted. Restrict stock buy backs & tax excessive executive pay.

Comments

charleybrown.bsky.social•90 days ago

Straight up greed. Pass laws to stop that crap. Please.

wptrocket.bsky.social•90 days ago

So to be the devils advocate, if they cut 1000 workers are they needed? Aren’t we capitalists? Not to overlook the pain of a job cut, but we’re capitalists. Companies are allowed if not required to maximize long term profit.

hippiedad68.bsky.social•90 days ago

What was the top marginal tax rate on income over $400,000 from 1950- 1983?

etrosknight.bsky.social•90 days ago

Wasn’t it like 90%?

hippiedad68.bsky.social•90 days ago

Anywhere between 92% and 76% depending on the decade.

theshifter.bsky.social•90 days ago

Nothing makes investors happier than cutting labor! It shows they're "tough" and "serious" about raising profits.

mitchferro.bsky.social•86 days ago

Wait, you’re the same guy kissing Elon’s ass, who’s known for shafting employees and destroying the environment, all while pocketing billions. You don’t stand up for those being shafted when you bend the knee to Elon.

rljones24.bsky.social•90 days ago

I understand both layoffs and CEO comp. The difference between successful CEOs and unsuccessful ones is huge. But I agree with your point. The lack of corporate responsibility and reciprocity has been a great source of social degradation in the last 50 years. Let’s push back as best we can.

dmedeiros31.bsky.social•78 days ago

We all know trickledown economics doesnt and hasn’t worked for the working class. End of story

ifiwasdaking.bsky.social•90 days ago

Why are stock buybacks even legal at all? They were once illegal. Reagan's SEC allowed them. Then the Dems couldn't be bothered or trusted to reverse Reagan's decision. Like nearly every other policy that got us here.

lesjjr.bsky.social•89 days ago

Greed-flation is real y’all 💰

bluewomanvoting123.bsky.social•87 days ago

Why are you cozying up to Elon?

newmexicoman.bsky.social•90 days ago

With the nazis running all three branches of government, expect a lot more of this.

katiekatz.bsky.social•90 days ago

I want to believe this is the real Ro Khanna and not some staffer posting obvious progressive rhetoric, but I can't tell on here.

karpuzbaby.bsky.social•89 days ago

I would like to know how many of those employees voted for Trump and GOP down ballot. Don't ask me to feel sorry for them. As for the Dems... just break from those Centrists who are anti-labor. It's hopeless.

tlscott3.bsky.social•78 days ago

I agree with you on these points.

uncle-frank.bsky.social•90 days ago

Because...Capitalism.

donshafer.bsky.social•90 days ago

Because they can. Who is going to stop them?

marie-snowden.bsky.social•90 days ago

Because corporations don’t give a damn about their slaves 🤷🏻‍♀️

dawniewouldnt.bsky.social•78 days ago

You are a dem? Sure doesn’t seem like it with bootlicking

kitoman.bsky.social•90 days ago

tax firms on the basis of their executive to median compensation ratio

mkeanenl.bsky.social•90 days ago

Weak sauce. Not buying their product and selling shares is the way. It's called capitalism. Get the US to put a hold on any further fleet purchases. Otherwise, not a chance.

hopefordemocracy28.bsky.social•89 days ago

Cruelty IS THE POINT

hopefordemocracy28.bsky.social•89 days ago

Because the dump said.

biancoin.bsky.social•89 days ago

It's just pure economy

flossyd2u.bsky.social•90 days ago

The democrats are fighting hard but the people keep voting against their best interests. We can't blame messaging, wokeness, people feeling not seen. People need to stop being in denial. The country has always ran better under democrats

ken-in-va.bsky.social•90 days ago

they voted for Trump. Let him stop the corporate raiding, lol.

californiadreamy.bsky.social•90 days ago

Ban stock buybacks.

societal-reject.bsky.social•90 days ago

That's the American way.
America taught Japan, post WW2, their best business continuous improvement strategies and then they proceeded in business practices that were damaging to their own economy.

erikam123.bsky.social•78 days ago

Wonder what doge thinks of that?

offdamountain.bsky.social•90 days ago

Because they can.

shesellssanctuary.bsky.social•90 days ago

I’m afraid we’re too late -the Trump purge is just starting 🥲

etrosknight.bsky.social•90 days ago

This has very little to do with Trump, companies have been doing things like this for a while now no matter who is president.

andromedaascendant.bsky.social•90 days ago

And remove tariffs on EVs to force GM and other US producers to start making cheap electric vehicles of their own. That will need workers.

sfkjbg.bsky.social•89 days ago

The government has to stop subsidizing

verityviolet.bsky.social•89 days ago

Corporations don’t need democracy to make money. They make more from technofeudalism than they would ever make under well regulated democratic system.

verityviolet.bsky.social•89 days ago

Dems do nothing. Too busy attacking their left flank. Too busy working out how to emigrate.

indidad2.bsky.social•88 days ago

For what it’s worth, GM cars are not that great, so bad products being culled inevitably leads to job losses. That being said, adjusting the pay scale has to be done by unions. Just taxing the rich and giving services to the poor/middle class is not a viable strategy.

Enable unions to negotiate

beachydreamer.bsky.social•90 days ago

They already know what the tariffs mean for them. It's about selling, shifting and trying to get the most profit, before the hammer slams down.

livelife99.bsky.social•90 days ago

I hear techies are getting laid off to the point the code boot camps are reducing down? I don’t think AI will replace them very well, so times are crazy.

lukeprest.bsky.social•90 days ago

Republican and democratic voters both agree that the rich should be taxed more, and we can’t make this happen. Another failure of our “democracy”

dbgulfstream.bsky.social•90 days ago

Yeah well, good luck with that..

grammy-care.bsky.social•90 days ago

Sometimes it’s because they see an upcoming downturn, but frankly CEO pay often hinges on stock performance (incentivizing layoffs or reduced labor costs to boost short-term gains). It is short sighted, harms morale and long-term corporate growth while benefiting top executives disproportionately.

lindagoza.bsky.social•90 days ago

Loud statements NOW. Where were these last sessions? Where was your disdain then?
Talking points are over - done
Action is what your base will react to - Action not complaining

andyfrazer.bsky.social•88 days ago

carrion.bsky.social•89 days ago

Weren’t you just bitching about Tesla not getting a handout in the form of ev incentives, lmao ro

skylarkpoli.bsky.social•90 days ago

What about Republicans..since so many voted for them why not ask Republicans to stand up for those "being shafted"? Let's see what Republicans do for the working class...

norvell02.bsky.social•89 days ago

My thoughts also

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