Posted on 12/15/2008 12:54:51 PM PST by The Pack Knight
It's a shame if the retired auto workers don't get all of their pensions, but it simply is not our problem. If GM and the others can't pay, then they can't pay. Most of us don't get pensions and never will, and it isn't right that we be asked to pay for theirs.
Well...speak for yourself. I think the UAW workers are overpaid and the fact that Ford lost $9 billion while Toyota made $4 billion suggests the same conclusion. You guys made your bed, you go right ahead and sleep in it. Just don't ask me for a financial blanket to cover up both yours and managements' excesses.
I wonder if the UAW will reply.
Speak for yourself. I wholeheartedly consider these union members to be both overpaid and in many cases lazy. I will not voluntarily subsidize said pay, benefits and retirement when 98% of us taxpayers have nothing resembling it.
bump
The steel industry went through this.
...and President Bush is determined to make that "probably wind up bailing you out" a definite...
It is not my problem as the taxpayer. I never was part of the contract. Bankruptcy is the best solution. A taxpayer bailout without fixing their costs structure is a band aid on a terminal cancer patient.
the cold hard fact is there are too many cars built globally and too few customers. The situation is worse due to a global economic slowdown. Cars from China and India will only make it worse. Argentina got automakers to sell cars there at cost. Argentina is a socialist/kleptocracy along the lines of Chicago and the new Obama admin.
I second that emotion. Being in the logistics and transportation business, we would never schedule a delivery after 12PM because we knew we would have to wait until the next shift because the previous one would have met their quota of 7. (Compare that to a Honda plant- 40+ per shift)
It is about the economy, stupid!
Nuclear Winter In Shipping
The Wall Street Journal is reporting Freight Haulers Slam on the Brakes.
Expecting the Weakest Year in Three Decades, Truck, Rail and Ocean Shipping Firms Are Cutting Back. In a normal year, Gordon Trucking Inc. might replace 20% of its fleet of 1,500 big rigs with new trucks. But given the bleak outlook for the freight business, the Pacific, Wash., hauler doesn’t intend to buy a single new truck next year.
“We’re settling in for nuclear winter in the first half of 2009,” says Steve Gordon, operating chief for the company, which hauls everything from paper products to electronics.
He’s not alone. Some industry executives and analysts predict that 2009 could be the worst year for freight-transportation volume in three decades or more. ….
(Should I get a bailout?)
I agree, though I think the point is it isn’t for us to say who is “overpaid” or “underpaid.” They’re being paid exactly what they contracted for. The fact that they’re being paid so much that their employers are uncompetitive and unprofitable is between, well, them and their employers.
Also, I’ll note the common union argument that the $73/hour figure includes “legacy costs” beyond their base wages. No one forced them to demand hire-to-grave pensions and benefits; it’s all compensation that the union bargained for. It makes no difference whether that compensation is paid entirely through a paycheck or partially through a pension plan; it still comes out of the employer’s labor expenses.
Just about any postal employee (former or present) can tell you all about the problem, but they'll also tell you that all you need to do is make sure you don't have any "uniform" parts on you or in your car, and just keep your mouth shut.
Alas, I worked mostly in organizational elements over the years where it was necessary to deal WITH the public on this very issue
Not revealing any secrets here, but guarantee UAW members and other Big Three employees are heading into a time of their lives where they will grow to despise all the busy bodies who want to tell them how to run THEIR business with THEIR money, and why YOU should fix their car for free, and, BTW, give 'em a big refund!
Put 50 billion into unemployment benefits for everyone getting laid off and let the auto industry figure out how to get back in the game on their own.
FTA “we do not consider you overpaid...”.
Oh yes I do. The unions killed their own golden goose through decades of greedy union contracts, getting unreasonable benefits and pay.
We have(now HAD) a GM plant in Janesville,WI. Any friends I had in school who had parents with a job at GM (1970s +1980’s) had it made.
Of course they worked hard, but they were well compensated. They made more per hour than most could dream of making.
The unions broke the US Auto Industry making greedy pay and benefits demands. Also add in blame with the gov’t, for demanding they make cars to the gov’t whims and enviro-wacko ideas that made producing the cars at a good price impossible.
Sure did. I’ll direct you to one of my favorite companies, Nucor. Their entire workforce is non-union, and their workers are primarily compensated through performance incentives. Also, they only have two levels of management between the CEO and the floor workers at the mills. They’ve been profitable for 40+ years straight in an industry in which common knowledge says Americans can’t compete with the Japanese and Chinese.
This is the sort of 21st century business plan the auto industry needs to look at.
Shhhhh, don’t mention Argentina!
They funded their auto ‘bailout’ by seizing 401Ks! To appease the 401K owners, they made the auto companies produce 2 models to be sold at cost and funded from the 401Ks!
***It’s a shame if the retired auto workers don’t get all of their pensions, but it simply is not our problem.**
They should do like I did when I retired. Take the cash payout and invest it in Bernard Madoff’s hedge fund! I’ll make zillions!
Oh, wait...;-)
This essay expresses my thoughts exactly. I do want to emphasis one point.
The UAW along with the bailout proponents say "IT MUST BE DONE TO AVOID DAMAGE TO THE COUNTRY"
OK, then I say "IF THE UAW REFUSES CONCESSIONS, THEN I SAY YOU ARE TRAITORS TO THE USA"
I own 3 gm cars and I bought a new gm car in August during the employee discount promotion. I now consider the UAW traitiors and AS GOD AS MY WITNESS, I WILL NEVER BUY ANOTHER UAW CAR OR ANYTHING ELSE AS LONG AS I LIVE.
I WILL NOT SUPPORT TRAITORS.
If only the unions didn’t hate the companies they work for so much. It’s gonna take years to undo this mentality! ‘Hate’ is such an effective weapon!
Neither the government or the worker pays for regular Unemployment Insurance (U.I.) it is paid for by a tax on employers: http://workforcesecurity.doleta.gov/unemploy/uifactsheet.asp
U.I. for Federal workers, ex-military and extensions is paid for by the government, however.
You should send that to every state and federal senator, representative, mid-level government cronie, and any other
relevant party with an e-mail address you can find.
Twice.
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