GM posts $39B loss
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From: Burleson, Texas
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From: North of Dallas, South of Frisco
That's cool of GM to offer to buy them out...
Any other corporation woudl just lay them off. End of story.
On the news they said this was the largest loss in automotive history.
Hmm, I thought GM was going better... Maybe they shouldn't have sold GMAC. At least they still "look" profitable.
Any other corporation woudl just lay them off. End of story.
On the news they said this was the largest loss in automotive history.
Hmm, I thought GM was going better... Maybe they shouldn't have sold GMAC. At least they still "look" profitable.
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From: Houston
Originally Posted by Bighersh
That's cool of GM to offer to buy them out...
Any other corporation woudl just lay them off. End of story.
On the news they said this was the largest loss in automotive history.
Hmm, I thought GM was going better... Maybe they shouldn't have sold GMAC. At least they still "look" profitable.
Any other corporation woudl just lay them off. End of story.
On the news they said this was the largest loss in automotive history.
Hmm, I thought GM was going better... Maybe they shouldn't have sold GMAC. At least they still "look" profitable.
I have lost hope in big business so something lead's me to believe this buyout is not from the kindness of their heart's. Wouldnt the union protect those workers if GM just tried to up and fire them?
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From: Marshall, Tx
Originally Posted by scott1981
I have lost hope in big business so something lead's me to believe this buyout is not from the kindness of their heart's. Wouldnt the union protect those workers if GM just tried to up and fire them?
The goal is not to reduce headcount but rather to bring in new workers at a lower cost.
The current veteran UAW member at GM today has an average base wage of $28.12 an hour, but the cost of benefits, including pension and future retiree health care costs, nearly triples the cost to GM to $78.21, according to the Center for Automotive Research.
By comparison, new hires will be paid between $14 and $16.23 an hour.
http://money.cnn.com/2008/02/12/news...ion=2008021212
The current veteran UAW member at GM today has an average base wage of $28.12 an hour, but the cost of benefits, including pension and future retiree health care costs, nearly triples the cost to GM to $78.21, according to the Center for Automotive Research.
By comparison, new hires will be paid between $14 and $16.23 an hour.
http://money.cnn.com/2008/02/12/news...ion=2008021212
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From: Rhode Island
GM is very profitable in the overseas market, however in North America they are loosin their shirts...........
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From: North of Dallas, South of Frisco
Originally Posted by scott1981
I have lost hope in big business so something lead's me to believe this buyout is not from the kindness of their heart's. Wouldnt the union protect those workers if GM just tried to up and fire them?
But, I don't think a union can protect you from a layoff. Not completely.
They may do what Ford had proposed, and throw a 100K at them, and see what happens. I mean, offffered the choice between a lump sum check for100K or a layoff package (2-3 months salary, if you're lucky), I'd take the 100K.
But, it's hard to feel sorry for corporate America, or GM. I can only hope for the best for them.
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From: Great Lakes
There was a time not so long ago when it looked like American steel companies and workers jobs wouldn't make it past 2000. Now the workers and companies are going great, at least around here. Unfortunately almost all the companies are now foreign owned by Mital from India. The jobs still pay great and the benefits are good, but I wonder what will happen if the steel market slows. Hopefully the US auto industry will have a sucessfull rebirth with American ownership in the near future.
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From: Houston
Originally Posted by Bighersh
Oh yeah, I'm sure it wasn't out of the kindness of their hearts.
But, I don't think a union can protect you from a layoff. Not completely.
They may do what Ford had proposed, and throw a 100K at them, and see what happens. I mean, offffered the choice between a lump sum check for100K or a layoff package (2-3 months salary, if you're lucky), I'd take the 100K.
But, it's hard to feel sorry for corporate America, or GM. I can only hope for the best for them.
But, I don't think a union can protect you from a layoff. Not completely.
They may do what Ford had proposed, and throw a 100K at them, and see what happens. I mean, offffered the choice between a lump sum check for100K or a layoff package (2-3 months salary, if you're lucky), I'd take the 100K.
But, it's hard to feel sorry for corporate America, or GM. I can only hope for the best for them.
I agree, unskilled labor should take the 100k and laugh to the bank. Ford, Chevy and the rest did a great thing for America by helping those who were willing to work hard but had no education with decent paying jobs and great benefits. If the American buying public had not turned a blind eye to these jestures these companies would still be able to offer these benefits without going bankrupt. Now the American people don't care if it keeps money or food on American tables. Gone are the days of national pride. Although I do feel these labor workers were overpaid and under qualified they still showed up to work everyday and built some damn good trucks/cars. Sad to see this end
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From: Indianapolis, area
Starting at $14 to $16 sounds about right for most of the positions(midwest pay scale). There are some that should be paid more due to skill level. That figure seems to be about average in the midwest for the equilvelent jobs set/skill levels. That's what matters the most is for GM to get back in line, wage wise, with the national average.