1 posted on
03/22/2005 2:49:46 PM PST by
quidnunc
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To: quidnunc
--the UAW better wake up ,also---
2 posted on
03/22/2005 2:51:13 PM PST by
rellimpank
(urban dwellers don' t understand the cultural deprivation of not being raised on a farm)
To: quidnunc
The UAW had their glory days - now it's time to pay the piper.
3 posted on
03/22/2005 2:54:08 PM PST by
Redbob
To: quidnunc
Why do you say GM is going bankrupt? The article doesn't support that statement.
To: quidnunc
When are the GM-UAW contracts up? 2007?
5 posted on
03/22/2005 2:54:50 PM PST by
Yo-Yo
To: quidnunc
Always look for the union label... then buy something without it.
6 posted on
03/22/2005 2:55:46 PM PST by
dead
(I've got my eye out for Mullah Omar.)
To: quidnunc
"Junk" doesn't always potend bankruptcy. Some great companies have been financied by junk bonds. That said, getting downgraded toward junk status, instead of moving in the other direction, is not good.
8 posted on
03/22/2005 2:56:29 PM PST by
BCrago66
To: quidnunc
GM also holds America's largest private pension obligation. GM's pension obligation is $3 BILLION overfunded. They don't need to make a contribution through the end of the decade.
This article is alarmist "global warming" type stuff.
To: quidnunc
GM was praying for Kerry to start National Healthcare to bail them out.
Looks like that strategy didn't work out...so they're toast, unless they can win major concessions on their benefit obligations, which is undoubtably what the publicity blitz is all about.
12 posted on
03/22/2005 2:58:26 PM PST by
Wiseghy
To: quidnunc
General Motors was once the leading car manufacturer in the world. Today, it's a pension fund and a health maintenance organization with a relatively small car-making operation on the side.Very sad. Reminds me of the Twentieth Century Motor Company in 'Atlas Shrugged'.
I fear the next thing is a taxpayer bailout, like Chrysler in the early '80's - 'too big to fail' theory.
13 posted on
03/22/2005 3:01:03 PM PST by
GaltMeister
(The only time a Democrat should be allowed in the White House is to visit the President.)
To: quidnunc
My daddy used to say..."Stay in school, study hard, work hard, and one day you will make more money than General Motors." Guess he was right.
To: quidnunc
Watch the coming bankruptcy of GM to bust the pensions and health care costs.
21 posted on
03/22/2005 3:09:32 PM PST by
finnman69
(cum puella incedit minore medio corpore sub quo manifestus globus, inflammare animos)
To: quidnunc
The article seems to be as much about social security as it is the GM pension liabilities..
It's an attempt to show the parrallels between the two, and to "prove" the impending failure of social security..
By 2018, the Social Security system will be in deficit, paying more in benefits than it collects in taxes. The "trust fund" will run out of assets in 2042 and face increasing shortfalls.
The article fails to point out that the last of the "baby boomers" i.e., those born in 1964, will be 100 years old in 2042..
Those that are still alive, that is..
While social security is in dire need of restructure, and protections from congressional financial shenanigans, ( virtual embezzlement ) such mis-representation and scare tactics are inexcusable..
27 posted on
03/22/2005 3:13:53 PM PST by
Drammach
(Freedom; not just a job, it's an adventure..)
To: quidnunc
Filing for Chapter 11 and emerging from a reorganization might just be what the doctor ordered for GM.
30 posted on
03/22/2005 3:16:58 PM PST by
DTogo
(U.S. out of the U.N. & U.N out of the U.S.)
To: All
Does this mean Dale Jr. will start driving Fords now?
To: quidnunc
Time to cut Payroll!
37 posted on
03/22/2005 3:20:28 PM PST by
Fast1
(Destroy America buy Chinese goods,Shop at Wal-Mart)
To: quidnunc
The health-care costs about $5.5 billion a year and growing Something doesn't look right here... GM has 324,000 employees... so this works out to be almost $17,000/year/employee in Health Care costs.
I work at a manufacturing company... we are working to drive down our health care costs at our division because we are WELL ABOVE the national average in heath care cost/employee at around $7,000/employee. National average IIRC is around $4,500/employee.
38 posted on
03/22/2005 3:22:11 PM PST by
So Cal Rocket
(Proud Member: Internet Pajama Wearers for Truth)
To: quidnunc
All this, and they don't have a single car that everyone is talking about.
39 posted on
03/22/2005 3:24:37 PM PST by
xzins
(Retired Army Chaplain and Proud of It!)
To: quidnunc
I must say that I have had a tension filled relationship with "Da Unions". I live in a large city that has been traditionally very pro union.
My operational costs have gone up in ways that these union people do not understand. Simply adding a holiday translates into lost productivity and no billing. Yet these people always want more money. They recently got a 10% raise on top of other things and then complain about how we should have gotten some key jobs. sales takes the blame about 100% of the time.
The fact is, since I can't lower my price I try to do it faster and that is what these people don't want to hear. If it takes 4 days to do a job, management with some engineering tries to find ways of doing it in 3 days or less. Unions are very resistant to this because they want there time to be spread out and at their own pace. It's like dealing with welfare recipients.
Well, after so many years of this crap along comes a little nonunion shop and starts undercutting people like crazy. A job that costs me 150K costs them only 80k and then they get the work for obvious reasons.
I had to lay off people because of things like this. Now every time these people want a raise, I am forced to look for ways to cut costs.
The labor unions are forcing me out of the market and eventually themselves. PERIOD. They had their usefulness in improving work standards, safety, and improving working class living standards back in 1910 but now profit sharing is profit killing. It's greed.
If enough nonunion companies come into this market, I can't see how we can compete. End of story
51 posted on
03/22/2005 3:45:59 PM PST by
SQUID
To: quidnunc
so sorry!
maybe gm will realize that their dealers don't treat their customers very well, and that a gm car isn't the equal of a toyota.
thank a union and gm management for this.
53 posted on
03/22/2005 3:57:24 PM PST by
ken21
( if you didn't see it on tv, then it didn't happen. /s)
To: quidnunc
The UAW is a parasite that is finally killing its host.
Then what will those beer-bellyed bums do for a living?
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