From Deadspin:

Fact: Santonio Holmes made more than $2 million this season.

Fact: The federal government just bailed out General Motors to the tune of $9.4 billion.

So, why is GM giving Holmes an $85,000 Cadillac Escalade Hybrid Platinum, which has been, in effect, purchased by the taxpayers?

From the New York Daily News:

Breaking from recent tradition, there was no Cadillac on the field Sunday night during the Super Bowl awards ceremony and no Cadillac in the hotel ballroom Monday for the MVP news conference. Usually the MVP marks off on a board which car he wants. There was no board, either. It was all done in private.

There was no mention of Cadillac or of Holmes winning the car at the news conference. It was at the request of Cadillac, commissioner Roger Goodell told the Daily News Monday. When asked if Cadillac asked not to be mentioned, he said, "Yes."

So, do you really think that if they didn't give the MVP a Caddy, all GM's problems would be solved?  Same with the executives flying in on private jets to ask for the bailout, I agree that they probably shouldn't have been so flamboyant, but they are in so much trouble it wouldn't have made any difference.  All those millions in bonuses they gave themselves would account for less than 1% of their problem.   Its simply a public relations ploy.  They need to figure out how to provide a product that makes a profit.  Very simple business logic.

From Deadspin:

Fact: Santonio Holmes made more than $2 million this season.

Fact: The federal government just bailed out loaned General Motors to the tune of $9.4 billion.

The remainder is not factual

So, why is GM giving Holmes an $85,000 Cadillac Escalade Hybrid Platinum, which has been, in effect, purchased by the taxpayers?

Fixed it for you.

From Deadspin:

Fact: Santonio Holmes made more than $2 million this season.

Fact: The federal government just bailed out loaned General Motors to the tune of $9.4 billion.

The remainder is not factual

So, why is GM giving Holmes an $85,000 Cadillac Escalade Hybrid Platinum, which has been, in effect, purchased by the taxpayers?

Fixed it for you.

Wish it were that easy!! :

Lets see the Government just put a cap in place for executives at the companies who have recieved government assistance. But when labor was asked to come in line with the rest of the industry they said no. HMMM. I was a blue collar worker, but when the labor unions insist that their workers are paid 40/hr when the industry avg is 20/hr seems to this average american that not only was it poor management but union greed that has placed the big three in the most trouble. BTW how many people are aware that the union big shots have percs that make the ceo's look like girl scouts. Their union owned resort in MIcigan costs union workers millions of dollars a year.  Add to that and they kept 6 million for the upkeep of the resort, this type of attitude will end up running the big three out of business.  I think it is better to work for half of your pay and keep a job instead of loosing the job to overseas.  Unions suck

Not to get political, but once the government gets involved in a business through loans or equities, than the public taxpayer's interest should be addressed.  So everything the company does is scrutinized, rightly so!  

If I wanted to be vested in GM or any company, I would buy their stock based on performance and management, not be forced to buy into a failing company that is on the verge of bankruptcy.

Next thing you know the government will be dictating wages to management, oops it already appears they will.

http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay

Its a slippery slope, gentleman! A very slippery slop.

From Deadspin:

Fact: Santonio Holmes made more than $2 million this season.

Fact: The federal government just bailed out loaned General Motors to the tune of $9.4 billion.

The remainder is not factual

So, why is GM giving Holmes an $85,000 Cadillac Escalade Hybrid Platinum, which has been, in effect, purchased by the taxpayers?

Fixed it for you.

Wish it were that easy!! :

What is difficult about correcting statements that are not factual?

From Deadspin:

Fact: Santonio Holmes made more than $2 million this season.

Fact: The federal government just bailed out loaned General Motors to the tune of $9.4 billion.

The remainder is not factual

So, why is GM giving Holmes an $85,000 Cadillac Escalade Hybrid Platinum, which has been, in effect, purchased by the taxpayers?

Fixed it for you.

Wish it were that easy!! :

What is difficult about correcting statements that are not factual?

Do you really think all of that $9.4 Billion will be paid back? I'm not holding my breath. :-/

What I mean't anyway, was I wish fixing the economy were as easy as marking out a few words and inserting some more.  :

Not to get political, but once the government gets involved in a business through loans or equities, than the public taxpayer's interest should be addressed. So everything the company does is scrutinized, rightly so!

Next thing you know the government will be dictating wages to management, oops it already appears they will.

http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay

Its a slippery slope, gentleman! A very slippery slop.

Isn't the first part of your post saying that the gov't should be more involved and then the second part is saying they shouldn't be involved?

:-?

It looks to me like your post is contradicting itself.  

Not to get political, but once the government gets involved in a business through loans or equities, than the public taxpayer's interest should be addressed. So everything the company does is scrutinized, rightly so!

Next thing you know the government will be dictating wages to management, oops it already appears they will.

http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay

Its a slippery slope, gentleman! A very slippery slop.

Isn't the first part of your post saying that the gov't should be more involved and then the second part is saying they shouldn't be involved?

:-?

It looks to me like your post is contradicting itself.

Tyrius,

He's saying that the government should keep their noses out of this mess.  He's obviously a Capitalist, not a Socialist.  But, since our government is acting Socialistic, the very least the government can do is make the companies they choose to help out be accountable.

Not to get political, but once the government gets involved in a business through loans or equities, than the public taxpayer's interest should be addressed. So everything the company does is scrutinized, rightly so!

Next thing you know the government will be dictating wages to management, oops it already appears they will.

http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay

Its a slippery slope, gentleman! A very slippery slop.

Isn't the first part of your post saying that the gov't should be more involved and then the second part is saying they shouldn't be involved?

:-?

It looks to me like your post is contradicting itself.

Tyrius,

He's saying that the government should keep their noses out of this mess. He's obviously a Capitalist, not a Socialist. But, since our government is acting Socialistic, the very least the government can do is make the companies they choose to help out be accountable.

I realize that.  However, the gov't's mandating of exec pay only applies to those financial institutions where the gov't has provided SUBSTANTIAL capital funding (much, much more than they have provided to GM).  Banks that have not received this funding are still free to pay what they want.

I see this as the same as the gov't scrutinizing GM.  I thought his post was saying that they should be handled differently.

From Deadspin:

Fact: Santonio Holmes made more than $2 million this season.

Fact: The federal government just bailed out loaned General Motors to the tune of $9.4 billion.

The remainder is not factual

So, why is GM giving Holmes an $85,000 Cadillac Escalade Hybrid Platinum, which has been, in effect, purchased by the taxpayers?

Fixed it for you.

Just out of curiosity, what are the payback terms of the "Loan"

:-?

Wow, I didn't think this post would take this direction.

My real problem with this whole situation is that a struggling GM gave away an $85,000 vehicle and got nothing in return. They should have had that Escalade on display where people could drool over it, and hopefully want to actually purchase one.

Because of their mounting debt, car makers are too afraid to advertise...but the truth is they need to advertise now more than ever.

Wow, I didn't think this post would take this direction.

My real problem with this whole situation is that a struggling GM gave away an $85,000 vehicle and got nothing in return. They should have had that Escalade on display where people could drool over it, and hopefully want to actually purchase one.

Because of their mounting debt, car makers are too afraid to advertise...but the truth is they need to advertise now more than ever.

I actually agree with you on this.  

Just out of curiosity, what are the payback terms of the "Loan"

:-?

Loans mature on 12/31/11 and accrue interest of LIBOR (min 2%) + 3%.

Treasury receives 122 Million stock warrants with an excercise price of $3.57.