Greg made a point to his banker brother the other day,Bro was biatching about the wages the union auto workers were making{here in Canada Aplus,don't have a heart attack I'm involving myself in US affairs... :roll:} The union workers are making about $63/hr BUT the CEO's are making millions/yr.... :evil:
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TexasBred
Well-known member
kolanuraven said:A lot of these ' yahoos' here don't realize that the train/shipping industry will suffer also as they are the MAJOR ones hauling the cars from the ports to inland distribution centers.
That rock that some of these folks here live under....must've whacked them on the head at some time or the other. :roll: :roll: :roll:
Kola unfortunately YOU are the one hiding under the rock or at least with your head in the sand. Bankruptcy is designed precisely for situations exactly like this. This one is just larger. Car companies usually shut down for a minimum of 2 weeks every December anyway, so it's not like this is something new. Only a little longer. Everyone still gets paid 95% of their salary. Maybe GM and Chrysler do need to merge. Wouldn't hurt anything and certainly wouldn't be the first time something like this has happened. Anybody remember Eastern Airlines?Braniff airlines?? Where did they go. Merged !!! Remember Delta's bankruptcy?? Big but it worked. AA is doing the same thing. No free rides.
A
Anonymous
Guest
Bailout approved: Automakers to get $17.4B
By DEB RIECHMANN
Associated Press Writer
WASHINGTON (AP) -- Citing danger to the national economy, President Bush approved an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers.
The government will have the option of becoming a stockholder in the companies, much as it has with major banks, in effect partially nationalizing the industry.
At the same time, Treasury Secretary Henry Paulson said Congress should release the second $350 billion from the financial rescue fund that it approved in October to bail out huge financial institutions. Tapping the fund for the auto industry basically exhausts the first half of the $700 billion total, he said.
On Wall Street, stock prices rallied as investors cheered the government's action, though early gains eased later in the day.
http://hosted.ap.org/dynamic/stories/M/MELTDOWN_AUTOS?SITE=MTBIL&SECTION=BUSINESS&TEMPLATE=DEFAULT
aplusmnt
Well-known member
Mrs.Greg said:Greg made a point to his banker brother the other day,Bro was biatching about the wages the union auto workers were making{here in Canada Aplus,don't have a heart attack I'm involving myself in US affairs... :roll:} The union workers are making about $63/hr BUT the CEO's are making millions/yr.... :evil:
People get caught up in Class warfare. So what if a CEO makes millions that is what CEO salaries pay these days. Is it to much yea probably, so is sports players, and many other professions. But $63.00 an hour plus all the benefit cost for a job my 18 year old could learn to do in a week that is why they have problems.
My wife went to college for three years and has to be able to assist doctors in emergency room to help save someones life when they code. She makes a little less than $20.00 an hour. Do I complain no! I think she is paid well for our area. But in reality she has to be able to do things to save a persons life her job, she messes up she may kill that person. But auto workers can be trained in a few days to do a job that pays $63.00 an hour with better benefits and retirements.
That should tell people how messed up the Auto industry is!
It wasn't about class warfare it was about whats right. I don't feel one bit bad for the auto industry,they screwed themselves up not just in the wages the union workers were getting but also in the wages the top dogs were getting. At the other end were us,paying HUGE prices for vehicals{MORE in Canada then US,DON"T ask why...I don't KNOW }they obviously were making a killing,which there's nothing wrong with,that's what business is about,but greed got the best of them.And NOT just the union workers,helll if a companys making such huge profits they can pay the CEOS millions of dollars a yr,the guys doing the grunt work should benefit...IMHO.
Aplus...is your wife a union worker...in Alta,we are.
Just to make a point,I have NO use for unions,those B-tards screwed my dad out of his pension BUT that was not the union workers that did that it was non-union office workers that did that.
Aplus...is your wife a union worker...in Alta,we are.
Just to make a point,I have NO use for unions,those B-tards screwed my dad out of his pension BUT that was not the union workers that did that it was non-union office workers that did that.
aplusmnt
Well-known member
Mrs.Greg said:It wasn't about class warfare it was about whats right. I don't feel one bit bad for the auto industry,they screwed themselves up not just in the wages the union workers were getting but also in the wages the top dogs were getting. At the other end were us,paying HUGE prices for vehicals{MORE in Canada then US,DON"T ask why...I don't KNOW }they obviously were making a killing,which there's nothing wrong with,that's what business is about,but greed got the best of them.And NOT just the union workers,helll if a companys making such huge profits they can pay the CEOS millions of dollars a yr,the guys doing the grunt work should benefit...IMHO.
Aplus...is your wife a union worker...in Alta,we are.
Just to make a point,I have NO use for unions,those B-tards screwed my dad out of his pension BUT that was not the union workers that did that it was non-union office workers that did that.
No my wife is not union. She now works in home health care but use to work at hospital where she was called into Emergency rooms time to time.
Unions served a purpose at one time. But they have became a big business in their own rights. My dad was union worker for many years and it seemed good when it was good, but the fact that plant is no existent now kind of shows how the union can bankrupt a business if allowed to.
A
Anonymous
Guest
aplusmnt said:Mrs.Greg said:Greg made a point to his banker brother the other day,Bro was biatching about the wages the union auto workers were making{here in Canada Aplus,don't have a heart attack I'm involving myself in US affairs... :roll:} The union workers are making about $63/hr BUT the CEO's are making millions/yr.... :evil:
People get caught up in Class warfare. So what if a CEO makes millions that is what CEO salaries pay these days. Is it to much yea probably, so is sports players, and many other professions. But $63.00 an hour plus all the benefit cost for a job my 18 year old could learn to do in a week that is why they have problems.
My wife went to college for three years and has to be able to assist doctors in emergency room to help save someones life when they code. She makes a little less than $20.00 an hour. Do I complain no! I think she is paid well for our area. But in reality she has to be able to do things to save a persons life her job, she messes up she may kill that person. But auto workers can be trained in a few days to do a job that pays $63.00 an hour with better benefits and retirements.
That should tell people how messed up the Auto industry is!
So you think its all right for government to be regulating union and laborers salaries- but not regulate CEO's and management salaries :???:
aplusmnt
Well-known member
Oldtimer said:aplusmnt said:Mrs.Greg said:Greg made a point to his banker brother the other day,Bro was biatching about the wages the union auto workers were making{here in Canada Aplus,don't have a heart attack I'm involving myself in US affairs... :roll:} The union workers are making about $63/hr BUT the CEO's are making millions/yr.... :evil:
People get caught up in Class warfare. So what if a CEO makes millions that is what CEO salaries pay these days. Is it to much yea probably, so is sports players, and many other professions. But $63.00 an hour plus all the benefit cost for a job my 18 year old could learn to do in a week that is why they have problems.
My wife went to college for three years and has to be able to assist doctors in emergency room to help save someones life when they code. She makes a little less than $20.00 an hour. Do I complain no! I think she is paid well for our area. But in reality she has to be able to do things to save a persons life her job, she messes up she may kill that person. But auto workers can be trained in a few days to do a job that pays $63.00 an hour with better benefits and retirements.
That should tell people how messed up the Auto industry is!
So you think its all right for government to be regulating union and laborers salaries- but not regulate CEO's and management salaries :???:
I don't think Government should regulate any salaries. I think Chrysler should go broke and I buy a Toyota Avalon as next car instead of a Dodge Charger! I am just saying CEO salaries are a small fraction of labor cost, it is the out rages pay for unskilled workers that has the larger effect not the high Salary of one CEO.
TexasBred
Well-known member
OT you still don't get it. 99% of this bailout if FOR the unions
malice
Active member
Remember when the unions wanted to share a piece of the pie when the automakers were making money. Now they don't want to share
A
Anonymous
Guest
Canada offers $3.29 billion auto bailout
By CHARMAINE NORONHA
Associated Press Writer
TORONTO (AP) -- The federal and Ontario governments will provide the Canadian subsidiaries of the Detroit Three automakers with 4 billion Canadian dollars ($3.29 billion) in emergency loans, the prime minister said Saturday.
The announcement follows a pledge Friday by U.S. President George W. Bush to offer $17.4 billion in emergency loans to General Motors Corp. and Chrysler LLC.
Prime Minister Stephen Harper said Canada's bailout plan, the equivalent of 20 percent of the U.S. aid package, will help keep the plants afloat while the automakers restructure their businesses to retain one the country's most important economic sectors.
"We cannot afford, in the United States or Canada, the catastrophic short-term collapse of the Big Three automakers. The U.S. has signaled that they are not going to allow these companies to fail, and we will do our share of the North American package to see that this doesn't happen either," said Harper speaking at a news conference in Toronto.
Canada's automotive industry represents 14 percent of the country's manufacturing output, 23 percent of manufactured exports, and directly employs more than 150,000 Canadians. The country's largest industry within the manufacturing sector, it has been suffering from its slowest sales in 26 years and dwindling operating cash.
Ontario has agreed to provide 1.3 billion Canadian dollars ($1.07 billion) of the total since the province alone employs about 400,000 auto sector workers - both directly and indirectly - and the industry is the mainstay of about 12 Ontario communities.
"In Ontario, we've got thousands of people and their families who rely on the auto industry to be on firm ground, so they can put food on the table and keep a roof over their heads. ... No state or province employs more workers, and we're not going to give that up," said Premier Dalton McGuinty, speaking alongside Harper Saturday.
The Canadian plan will provide General Motors Canada with loans of up to 3 billion Canadian dollars ($2.47 billion) and Chrysler Canada will receive up to 1 billion Canadian dollars ($823 million). The companies will get the money in three installments, with the first portion coming Dec. 29.
http://hosted.ap.org/dynamic/stories/M/MELTDOWN_AUTOS_CANADA?SITE=MTBIL&SECTION=BUSINESS&TEMPLATE=DEFAULT
aplusmnt said:kolanuraven said:Of couse OT you know that some here do not believe that any of this is happening......
Rumor is, from an excellent source, that Ford is not far behind......not far behind at all.
If either GM or Ford follows ......the whole house of cards comes down, supplies, etc .,then what???
Just better hope that those little computer chips etc in our vehicles don't crap out anytime soon.
Not sure anyone is denying less cars are being sold. But how is giving car companies billions going to make the average Joe buy a car?
If people do not want to buy a Chrysler then why should I give Chrysler my tax dollars? What they going to do pay people to come to work at the plant and play cards? If there is no need for cars there is no need for them.
These people priced themselves out of a job, when unions snowball demand for years and years eventually the snowball gets out of hand and is unstoppable, that is what has happened now.
Maybe if a auto worker did not make more money than many professions that had to go to college to learn their trade they would not have priced themselves out of jobs. They had great unions but now they have had to much of a good thing.
And seeing how Democrats are in the back pocket of unions there will not be much hope for us or them in the near future!
I would not buy a Big Three car now for any reason! Toyota for me! Screw the welfare union idiots!
What % of a car's price is labor costs??? Twice recently on national TV it has been said tht only 105 of a car;s price is labor costs-this quote was in reference to the big 3.
Instead of 105 that should have been 10%-TSR said:aplusmnt said:kolanuraven said:Of couse OT you know that some here do not believe that any of this is happening......
Rumor is, from an excellent source, that Ford is not far behind......not far behind at all.
If either GM or Ford follows ......the whole house of cards comes down, supplies, etc .,then what???
Just better hope that those little computer chips etc in our vehicles don't crap out anytime soon.
Not sure anyone is denying less cars are being sold. But how is giving car companies billions going to make the average Joe buy a car?
If people do not want to buy a Chrysler then why should I give Chrysler my tax dollars? What they going to do pay people to come to work at the plant and play cards? If there is no need for cars there is no need for them.
These people priced themselves out of a job, when unions snowball demand for years and years eventually the snowball gets out of hand and is unstoppable, that is what has happened now.
Maybe if a auto worker did not make more money than many professions that had to go to college to learn their trade they would not have priced themselves out of jobs. They had great unions but now they have had to much of a good thing.
And seeing how Democrats are in the back pocket of unions there will not be much hope for us or them in the near future!
I would not buy a Big Three car now for any reason! Toyota for me! Screw the welfare union idiots!
What % of a car's price is labor costs??? Twice recently on national TV it has been said tht only 105 of a car;s price is labor costs-this quote was in reference to the big 3.
TexasBred
Well-known member
Also said $2,000 of the price of each car was for hospitalization insurance premiums.
Mike
Well-known member
Read this article in the USA Today from 2005:
http://www.usatoday.com/money/autos/2005-06-22-gm-healthcare-usat_x.htm
http://www.usatoday.com/money/autos/2005-06-22-gm-healthcare-usat_x.htm