Monday, March 09, 2009

Is General Motors Cutting Costs That Count?

GM is cutting its sponsorship ties with documentary filmmaker Ken Burns.  The company has also reached an agreement with the Canadian union that if approved by the membership will freeze base pay, limit health care plans, and delay bonuses and COLAs. That should free GM up for billions in bailout from the Canadian government.

But is GM still keeping their $10 million naming rights on the Smithsonian's revisionist history at the "General Motors Hall of Transportation"? They don't need to be spending money trying to bury the perception that they brought mass public transportation to its knees or the fact that they helped mobilize the Nazis. They could also save $844,000 per year through 2015 by dropping their naming rights to General Motors Place in Vancouver, British Columbia. There is absolutely no good reason for bailed out corporations to be paying to name sports and entertainment venues, when they should be cutting their luxurious expenses back.

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