GM to Offer Two Choices: Bankruptcy or More Aid

[tocco05]

How long will that last since i've been told that went out with the contract in 2007?

Well it's still going on now. I just saw him on Wed. and he is laid off and is getting 95% of his pay. Like I said, the UAW ruined the American car industry.

 

[tiznow]

I disagree. It was the idiots at the top that wanted to keep building SUV's that only get 10 mpg when gas was going up. The days when the union got paid to sit around have been gone for awhile now.

that was an offshoot of the housing bubble tapping home equity bubble

the demand for SUVs woulda never been there if not for the housing bubble and overall consumer debt bubble in general

plus the guys making the loans were handing out 0% down no payments for whatever loans on cars and shit back in the day too.....

 

[Tank]

Well it's still going on now. I just saw him on Wed. and he is laid off and is getting 95% of his pay. Like I said, the UAW ruined the American car industry.

I'm not sure how fords sub fund works but here at caterpillar when it runs out then you just get unemployment and i know it will run out here with all the lay offs happening.
I am a union member but a disgruntled one at that and have been screwed over by the union more than anything. I'm just tired of seeing the love fest for foreign companies that beheaded our soldiers some 60ish years ago.

 

[Tank]

that was an offshoot of the housing bubble tapping home equity bubble

the demand for SUVs woulda never been there if not for the housing bubble and overall consumer debt bubble in general

plus the guys making the loans were handing out 0% down no payments for whatever loans on cars and shit back in the day too.....

I find it funny that they tell us NAFTA is good paying cheap labor for the hourly yet you never see the big corporations bringing in cheap management from china or mexico to do their jobs and save money. Funny how that happens isn't it?

 

[kingbill]

I'm not sure how fords sub fund works but here at caterpillar when it runs out then you just get unemployment and i know it will run out here with all the lay offs happening.
I am a union member but a disgruntled one at that and have been screwed over by the union more than anything. I'm just tired of seeing the love fest for foreign companies that beheaded our soldiers some 60ish years ago.

But Korea and Japan switched to Capitalism so all is forgiven...60 years is a long time in the marketplace

 

[Tank]

But Korea and Japan switched to Capitalism so all is forgiven...60 years is a long time in the marketplace

So very true.

 

[eek.]

The top selling cars in America in recent years have still been those V8 monster trucks like the F-100.

As long as things were fine no-one gave a chit, the total waste of resources was amazing, and it was unsustainable.

now the shit has hit the fan, ^<<^ so people have got a long overdue wake up call.

 

[barman]

I saw an ad, a GM dealer was offering lifetime warranty on cars...

Didn't read the fine print, lifetime of the Car or lifetime of GM.

Let'em go under, cheaper more efficient makers will buy up some of it.

Nothing in this post with which anyone having a shard of economic sense can disagree.

 

[barman]

I'd be curious to know how many of the current UAW members are true "retirees" receiving hefty pay.

Whatever the number, they sure better get their act together and collectively influence the UAW poobahs to negotiate some kind of realistic deal. Failing that, they're all going to be receiving $0 in the near future.

 

[eek.]

In the UK true retirees are safe, they have a guaranteed chunk of the pot which is locked in via a purchased annuity or whatever, to fund their pension.

The problem is retirees who aint retired yet.

In the US you have the additional problem of private healthcare for retirees and I don't have a cloo how that would work.