Of course. He’s indebted to the UAW.
Obama’s fault.
Once Obama-economics are instituted, you won’t need pickup trucks. There won’t be any work.
What will I do with my $100.000 (comparatively cheap) motorhome? What will my friends do with their $750,000 rig in which they live and travel 24/7/365?
How about my SIL who has a small truck to perform his work chores. How about my daughter’s company that uses a ‘big rig’ to buy/sell wholesale tomatos? How about the hundreds of Wal-Mart trucks delivering from warehouse to store?
The auto industry are in their current position for a reason. How does giving them 50 billion change anything? If they don’t change what brought them to this place, they will be right back where they are now after they lose the bailout money.
If a business is failing, it needs to...
What will I do with my $100.000 (comparatively cheap) motorhome? What will my friends do with their $750,000 rig in which they live and travel 24/7/365?
How about my SIL who has a small truck to perform his work chores. How about my daughter’s company that uses a ‘big rig’ to buy/sell wholesale tomatos? How about the hundreds of Wal-Mart trucks delivering from warehouse to store?
Anybody heard that 10 Billion will go to the Unions supposedly for health care of Union members?
Sure, I’m going to put around the Riverside county hill country with a Hyundai 4 cylinder enviro-friendly piece of crap. Bail out Detroit, and dump on their products. The audacity of hypocrisy.
Them makin’em, and us buyin’em, is two different things.
At the end of 2002, General Motors, the company with the largest workforce and therefore the greatest pension obligation, had $39 billion in pension assets.
A major UAW goal in pension negotiations is to provide basic lifetime pension benefits that replace a reasonable percent of the worker’s pre-retirement income. This is part of the “three-legged stool” of retirement security, which includes a pension, government Social Security benefits and personal savings.
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October 22, 2007
Under GM’s new contract with the UAW, new hires for nonproduction jobs will earn $15.30 in base pay after initially getting $14-an-hour training pay. Including health insurance and a 401(k)-style pension plan, the new hires will make $25.65 an hour, GM said.
Existing GM hourly employees earn base wages of $28.12 an hour. Including health insurance ...
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March 12, 2004
GM Says Health Care Obligation Hit $67.5B
GM currently pays health care expenses for 450,000 retirees
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March 7, 2006
GM retirees balk at higher health care costs
General Motors Corp. retirees asked a federal judge Monday to reject a settlement that would require them to pay more for their health care, saying it violates their contracts. But GM and the United Auto Workers said the agreement is critical to the struggling automaker’s future. “This is the only hope that there is that GM will be able to continue to survive,” said Julia Penny Clark, an attorney for the UAW. “GM is at risk of not being able to provide these benefits.”
Next time America needs to manufacture a bunch of main battle tanks in an extreme hurry — there will be some posters on this board who will be happy, our auto industry is getting some support right now.
none of GM’s management miscues was so damaging to its long-term fate as the rich pensions and health care that robbed [GM] of its financial flexibility and ultimately, of its cash. ... Detroit was too flush to envision it would ever face a financial strain. ... [GM] got into the dubious habit of steadily increasing worker benefits. In the ‘90s, the consequences of maintaining a corporate welfare state became too obvious to ignore. ... GM acknowledged it its most recent annual report that from 1993 to 2007 it spent $103 billion ‘to fund legacy pensions and retire health care.’
Maybe he should suggest a $700 billion bail out.
The government gives them money. The government tells them what to build.
UAW urges public to oppose House bill that harms pensions - 12/06/05
The U.S. House is about to take up a pensions bill that the United Auto Workers says will outlaw early retirement benefits in plant closing and will freeze the pension benefits of hundreds of thousands of workers in well-funded plans by changing accounting rules. Alan Reuther is Legislative Director for the UAW.
[Alan Reuther 1] : “These proposals we think are being pushed by people who want to get rid of defined benefit pensions plans. And that’s why they’re pushing these counterproductive ideas.”
“We’re asking people to call their members of Congress and to urge them to oppose this pension bill and to send a strong message that it’s not right to be freezing the pensions of workers and retirees.
the all new GM HUGO is here! (A Yugo named after O’s best friend Chavez.)
Emmanuel is a moron who doesn’t understand anything except the nice cushy office he works out of.
Of course if he had a lick of common sense, he would realize that the work crews that built his office, home, etc... relied on trucks.
