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Big companies costing us

News that Ford and GM have lost billions of dollars and are laying off workers, freezing pensions, closing plants and facing possible bankruptcy raises a few questions: 1) Executives and board members are multimillionaires with company cars, expense accounts and lavish severence packages. Corporations often cite the need to provide massive pay in order to “attract the best.” If these people are so good at what they do and “deserve” the pay they receive, then why are their companies in such poor shape? 2) Are we being “Enroned” by them? Are they simply hiding as much profit as possible offshore in order to feign “bankruptcy” on American soil? This would make it much easier to move all manufacturing to Mexico or China while claiming to be the “victim,” forcing taxpayers to “bail them out,” further lining their coffers.

I heard on Air America that Ford Motor Co. has $850 million in profits that are being held offshore. They are waiting for impending “tax holiday” where multi-national companies can bring profits “home” to receive yet another tax break.

This is worth writing (and fighting) about, in light of Ford’s recent claim of “bankruptcy.” Don’t you think?



Randall Guyton

Cedar Ridge


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