Word: costly
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...must reluctantly, but necessarily, turn to the U.S. Government for assistance. Absent such assistance, the company will default in the near term, very likely precipitating a total collapse of the domestic industry and its extensive supply chain ... The cost of failure in this instance would be enormous for everyone ... Regionally a failure at GM would devastate Michigan and other Midwest states...
Those complaining about the extravagant cost of winging CEOs around the world are also forgetting about the extravagant cost of CEOs. My own company, Time-Warner, at one time owned five G-5s, a couple of which were used to haul movie stars wherever it was they needed to be hauled to. They certainly were not for journalists; I've been on a company jet exactly once in the last 10 years. The shareholders paid Time-Warner CEO Jeff Bewkes $19.6 million last year. Based on a 40-hour week (and he'd better be working more than that...
...fair, the circumstances are unusual ones," said GM's Chairman Rick Wagoner. "It's been a terrible for the industry. These are pretty bad numbers," he said, adding that the company is stretching its cost-cutting targets in response to collapsing consumer demand. "We hope our case is compelling. We believe it is," Wagoner said...
Here's one example of the challenges that GM faces. It is investing $750 million in the Chevrolet Volt, a range-extended electric vehicle that is supposed to get 40 miles on a charge of electricity. It is a major technological achievement, but analysts figure that the cost of the extra batteries in the Volt will raise its price to around $40,000. Since sales volume will be very small, GM will lose money on every one. Volt will be great for corporate egos but lousy for the bottom line. (See the Top 10 Bailout Measures...
...energy in a money-saving way.” Comparing present models of the U.S.’s oil and electricity consumption to his own theoretical ones, Lovins’ presentation, “Profitable Solutions to Climate, Oil, and Proliferation,” focused on reducing costs as a means to help the environment. Certain companies, driven by opportunities for increased profit, have shown that cutting back CO2 emissions is possible, he said. IBM and STMicroelectronics were able to cut their emissions by 6 percent while looking for ways to reduce costs. Similarly, when the Dow Chemical Company...