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The UAW and Domestic Automakers




    When I read this story, I was literally jumping up and down at my oncologist's office because someone finally printed what I have been saying for years about old line pension plans. Anyone covered by a pension plan (and that includes you government employees) better pay attention. The house of cards is starting to fall and there's not much anybody can do to stop it.

    Rocky, I hate to be so harsh, but your grandfather may have to adjust. He'll just have to.
  • The job of a CEO is to maximize shareholder wealth. Because of technological advances, social change etc. it became necessary to streamline operations. He didn't go home every night thinking about how to screw people the next morning. He saved many jobs, in that had he not taken the steps he had GE would be in the same boat our auto industry is in today where everyone is inevitably going to lose their jobs. Granted, it is tough on the people that are canned. In some cases maximizing shareholder means hiring more people depending of the situation presented.

    Remember you will never get rich "working for the man" you need to be the man.
  • I have and if they can afford to give hundreds of millions in stock options, then they can afford to pay their union obligations.

    Please read up on what "stock option" is. The actual cash cost of stock option to the company itself is zero! It's to be paid by future investors who care to bid up the stock price. Now if the union is willing to take stock options in trade for all its benefits and retirement packages, I'd have no problem with that at all. The problem with union contract is the complete lack of performance link.

    I'd figure you'd be upset since you and I would of had to front the bill since the tax payers would of had to pay for it.

    huh? since when do taxpayers pay for stock options? Tax payers are under no obligation to pay union obligation either.
  • Jack Welch's loyalty should have been with the shareholders who hired him . . . his morales should have been turning natural and human resources into products and services that fellow human beings can enjoy, as efficiently as possible. He did a stellar job on both accounts.

    You have no clue who Ludwig von Mises was, or what he wrote . . . so quit pretending.
  • GE, obviously had better more future thinking management than GM.

    Interesting take on someone who you just accused of being lacking morale or layalty only a couple posts back.
  • I heard they have flying pigs stashed away somewhere too.
  • It's not a golden parachute like a suit would get

    Most suits don't have golden parachute. . . in fact, the overwhelming majority of suits don't.
  • Amen to the first half of your post.

    Not sure how many layers of managers have their rides. I thought GM is / has been laying off white collars left and right, with no buy-out offers. Even Wagoner's pay is very very low considering the number of employees and the amount of revenue he oversees (and his talent, IMHO). . . and had to take half-pay on top of that.
  • Where are people like my grandfather going to go ? to the guillotine ?

    Find a productive job? just like everyone else? Guillotine is only a possibility if he follows Fintail into some kind of bloody revolution.

    GM, can and should fully fund it's obligations. They have wasted billions in buisness deals that otherwise could of went to their pension obligations.

    We have been through this several times a couple months ago. If not for the successful investments, GM would have run out of money long time ago, and wouldn't have the money to buy out your gradfather's contract. The thing about investments is that, some are winners and some are losers, you simply can not decide ahead of time . . . darn, don't we all wish we only keep the wins and never pay up for the losses? ;-)

    General Motors, like GE, made choices.

    That I actually agree. GM should have extricated itself from extravegant union obligations long time ago like GE did.
  • People like my grand-dad aren't fit to work anymore and he requires a cocktail worth of pharmaceutical drugs to keep him "balanced" in his health.

    Nobody is suggesting he has to work. Where is his savings? Where is his family? If his family is not willing to support him, why should the rest of us be drafted into slave labor to support him?

    CEO's are paid millions a yr. in salary and if they can't work it all out then they should get the guillotine.

    And the size of the applicant pool would be?

    I don't understand why it's so hard to turn-around a company like GM.

    At least you are honest on this one :-)
  • fintailfintail Posts: 52,681
    You'd be well advised to leave me out of your uninformed little rants. Thanks for your cooperation.
  • I figured Rocky got his guillotines from your past writings, which brought up that particular method of public execution, among others, quite often. He's a real fan of yours.
  • Karen_SKaren_S Posts: 5,092's time to put this one to rest as it appears to be the same thing over and over. Hope you all enjoyed it.
This discussion has been closed.