I just love the Fidelity Select Funds. However, you have to know what your doing. I bailed last year. Prior, I was heavy into the natural resources, energy, energy services, chemicals, and natural gas to name a few. Prior to that I sold my home, lived in a rental for two years, and bought this one about ten months ago. May have pulled the trigger a little early, time will tell.
Bottom line is that I spent lots of time in school and actively investing. Macro economics has served me well and I have gone beyond my expectations. I'm really perplexed at those who always want to privatize retirement funds. They are either churning, skimming, and or have some motive. They only come out during bull market.
Retirement income from employment is not what I count on. I have something better than an annuity. You might call it a perpetuity.
Back to the gist. Govt spending isn't an evil in itself. During the down cycle it creates a multiplier effect. Granted its less than that of private spending. Nonetheless it could keep an economy from going deeper into a recession. Govt spending or national debt is not desirable during times when the private sector wants to expand. At this time the cost of expanding is hindered and or put off all together. Then too, any spending or tax cut which causes expansion, also brings in more taxes, which is income to the govt.
...if they try and unionize the south, I believe they will be met with great resistance from workers, who understand that they only have jobs because of those who lost their union jobs from the north...
What happens when those workers realize it's "Do as I say or we'll move overseas"?? Get fined $25 for spending more than 3 minutes in the restroom?? Work from 7-4 at Toyota, get up from your work station, punch out, and if you want extra work, punch in at a DIFFERENT time clock, go back to the SAME work station in the SAME plant and work 4-12 for "SCION" all at straight time???
The pendulum IS swinging away from unions having the upper hand. But what happens when the pendulum reaches it's limit???
The pendulum IS swinging away from unions having the upper hand. But what happens when the pendulum reaches it's limit???
Then some people will begin to understand why unions were formed in the first place. The main reason the non-union workers HAD their good paying job and decent benefits was because of the existence of unions. Many will not understand this until it is too late.
There will always be those (some of them are on here) who want the UAW and similar labor organizations to crash regardless of the consequences. They've been jealous for many decades of the good wages being paid. So what if the whole economy is going down the tubes, they say, as long as it takes the UAW with it. :sick:
It will be a LOT worse. The last 1.5 years of a Democrat Congress should be a wake-up call to the American voter. They are causing the problems we are in today.
How has a Democrat Congress helped the working man and particularly the UAW? They have only made things worse.
The neocons have created the problems we have today. It goes back a lot longer than 1.5 years. Who does a neocon help in the long run, other than globalists?
There is plenty of blame to go around. Why when Congress is controlled by the Democrats would you blame the doubling of oil prices on the previous Congress and the Neo-cons you love to hate? You cannot blame the housing bubble on the war in Iraq. It was Congress pushing the bankers to give anyone a home that wanted one that got US in this mess. Were the bankers told to go ahead loan the money and we will cover the losses? I don't know. I don't think the current mess has that much to do with the global economy. The foreclosures are a direct result of Sub prime and ARM loans. Given to people that should have NEVER been given any home loan. If we were not in such a pickle with the home mortgage mess the price of oil would be insignificant. It is all tumbling down and has been building for a while. I did get my property taxes lowered as a result.
I think that was the Fed and Mr. Greenspan's doing re the housing bubble - the American Dream and all that. Hard to say though when you never knew exactly what the guy was saying. :P
But we seem to be, alas, off-topic again.
Most of the union news seems to concern the Teamsters and the InBev deal. Although the white collar retirees at GM who are losing their health care benefits are wondering if they should have organized like the UAW workers. Cuts irk white-collar retirees (Detroit News)
I guess you need to define "middle class" ???? Obama, said he was going to roll back the Bush, tax cut on those making over $200K a year thus unless you make more than that I guess you don't have to worry. I also will mention in my 29 years of being alive I can't remember one time where republicans did anything for working class people that really ever ended up benefiting them ??? I think we all can agree can't we that importing lead painted shoddy garbage, and food that is about as safe as playing hot potato with a grenade with a pulled pin.
Yeah those nasty unions like the UAW, are just rotten because they support democrats and demand a safe work place, and a fair wage for the work being done !!! I listen to all the gripes about this but rarely does anyone bring up executive wages. Just because you went to college for 4 or 5 years doesn't make you smart. Some of the dumbest people I ever met went to college, and have a degree. Any jack [non-permissible content removed] can drink coffee and choke down dognuts and give orders. If these cake eaters were all so smart they wouldn't bankrupt or go through billions. Look at some of the management in the Big 3 !!!! They've made more blunders than seconds I've been alive but each year they get to use the corporate jet, credit card, and get paid ridiculous amounts of money. Hell you could be on life support and be a oil executive !!!! Geeez how hard is that job ???? Float the weather man a pre-paid gas card and have him say a hurricane is heading for the gulf or a bombing took place in timbuktu, and whamo another billion was made !!! :mad:
So yeah ya'll can hammer my pro-union & socialistic stance but I always have a response !!!! :P
What gets me is how some complain how a high school-educated UAW worker makes more than a college grad. These are probably the same guys who majored in Ancient Babylonian Astronomy or Classical Greek Literature. I'd say that "rivethead" on the assembly line is more useful than some longhair who can recite all of Shakespeare's sonnets. My girlfriend's brother in law is 58 years-old and has a Master's Degree, yet he's frequently unemployed, his house is getting foreclosed, he's go no social skills, can't manage his money, and is crashing at my girlfriend's mother's place until he can find work.
I guess you need to define "middle class" ???? Obama, said he was going to roll back the Bush, tax cut on those making over $200K a year thus unless you make more than that I guess you don't have to worry.
Letting the Bush tax cuts expire (which from what I understand Obama will do) will will raise taxes on every income tax bracket, reduce the child credit, AMT exemptions will decrease and reduce the standard deduction, etc. That will effect every wage earner.
I don't have a problem with unions in general. A safe work environment is important etc. Where I see unions presenting a problem is with work rules and wages. If the employer can afford them, great, if not, during bad times, a company needs the flexibility to control costs.
And yes, the big 3 management has been horrible for decades. Maybe those business schools up in Michigan aren't so great;)
What's happening with the auto industry is why I would never want to be (along with my kids) an uneducated laborer who's destiny is completely in the hands of the auto companies (or any company for that matter). That's putting all your eggs in one basket. Education gives you flexibility and more opportunity to move on with the $#*& hits the fan.
My girlfriend's brother in law is 58 years-old and has a Master's Degree, yet he's frequently unemployed
Like anything else, just having a degree doesn't entitle anyone to anything. It still takes motivation etc.
I know many people in many industries with various back grounds. Still opportunities out there.
My cousin (in his late 20's) works for the iron workers union out of NW Indiana. He makes close to $30 and hour plus all the o/t he wants. He told me they are always looking for people because many people who get hired as an apprentice end up washing out because they either can't make it to work on time due to being lazy, drunk or both.
I understand the importance of an education and I believe my Dad did because he realized he was probably the last of his kind - a man with just a high school education and a stint in the Navy - who could get a well-paying union job and raise a family. All three of us kids have college degrees.
Funny thing is, despite having a college-education and professional employment, I don't feel like I'm any more well-off than Dad was with his high school education other than the fact that I have a nicer car. In some regards, I'm worse off. I'm still single and don't have children. I see both marriage and children as a fatal error and fiscal suicide in today's dog-eat-dog world - a one-way ticket to crushing poverty. In my Dad's time, it was expected of you to have a family.
Geeze! Thirty dollars an hour and O/T would be enough motivation for me to get to work early and give up drinking. What kind of losers would let an opportunity like that slip by? I dunno. Maybe I have more discipline than the average slob.
The local news chick interviewed a retired GM person outside his large nice home about the reduction in healthcare coverage from GM out of the profits from what they sell.
His approach was "Oh, well" and he went on to explain you just gotta do whatever needs to be done to cover it. I believe he had retired in 1988.
I have felt the healthcare and retirement were overdone and he essentially agreed; he was saying he'd just pay out of his [very adequate] retirement income from his work years.
How can GM reduce the healthcare for hourly workers and reduce their cost for building cars?
How can GM reduce the healthcare for hourly workers and reduce their cost for building cars?
I am confused by the first part. The UAW will be taking over the health care in the near future. GM is supposed to make two? payments to a UAW run fund that will help pay for the UAW employees.
On the 2nd part they are doing many different things from lower wages on the hourly side to no salaried health care to lots of other stuff.
As far as health care we have an HSA where we pay no premiums but pay for most all health care up to a certain amount and then we start paying large deductables. We contribute to the HSA pre tax and whatever is left over at the end of the year stays there for the future.
The Big 3 management is why union was started in the first place. Ditto everything with Union Management.
Balance is needed for all things. When balance is lost, change happens.
Obama will come in and his chance will be had to re-balance. The President is where the buck stops at the end of the day. Both Bushes had terrible last years in office.
Obama, said he was going to roll back the Bush, tax cut on those making over $200K a year thus unless you make more than that I guess you don't have to worry.
IF that is what he said I am safe except on capital gains from selling my home. When and if it ever sells.
Here is something to think about. Maybe we can look at the executive pay starting back when Carter taxed them at 90%. When you are a CEO and negotiating your contract you will take that into account. If you were making $1 million and the IRS takes $900,000 of it you will probably tell the board you need more because the guy down putting on lug nuts is making $100,000 same as you are ending up with. So it was a windfall when Reagan cut that 90% down to under 40%. If you look close at these insane packages, most came about during the Dot.com bubble. That is when basing the salaries on stock performance was the wave that executives were riding on.
Just as many UAW guys will be looking for a new job. So will many white collar people and executives. It is harder for someone living on a million per year to survive than someone used to living on $50k or less. The UAW guy will find a job that he can survive on. The executive may take the easy path and jump out of a window. That is what happened in the Big Stock Market crash.
Most of these loans were created longer than 1.5 years ago. You know, when the neocons held control. The Dubya regime always embraced this false ideal of home ownership stats. Now we are all paying for it.
The neocon fed is a big reason for the problems today. Bernanke is not doing anything positive. Another rate cut should do wonders...seems to be all he knows.
agree with rocky..."Some of the dumbest people I ever met went to college, and have a degree"...and another poster did mention about his relative who is often unemployed, who majored in History of Art, or Greek Studies, or History of the World from 1500 to 1750...things that we really need in today's society...
It took me years to learn that intelligence and level of education do not equate in any way.
Now I know loads of folks with multiple degrees and general life smarts but I also know some with the degrees and no sense at all.
Likewise folks with a high school education can be brilliant and just never went beyond that level of education.
Heck, if you want a good electrician you don't really care how much he can quote Shakespeare.
A guy I went to high school with went right into being a roofer. Within 4 years he owned the company. Last I saw him the only thing keeping him working was that he had 8 guys employed and he was looking for someone who would buy the business and keep those guys. Plenty good business head without classroom business education.
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
The understanding I get is that GM is reducing their payment of health coverage for salaried/retired... nicht wahr?
When you hit 65 as a salaried retiree, you are then on medicaid/whatever the govt provides. GM used to supplement that. Now GM will give you an extra $300 in your pension check and you can use that toward a health care premium.
Re second part, one of the high costs discussed is the cost of healthcare to retirees from the hourly side. How can they reduce that cost?
Hourly as of 2010 will pay for their own health care. GM will not. GM is making 2 large payments to the UAW (FISA?) that the UAW will invest and use for health care. If that money is not enough the UAW members will have to make up the difference.
GM has said they will delay the payments BUT they will be paying interests on the money until given to the UAW. That is the way I understand it.
Any company that would pull the rug from under a person that is already retired doesn't deserve my business.
21 new GM cars bought since 1974. Goodbye.
So who are you going to buy from? Ford and Chrysler dropped retiree health care last year. Toyota still has it but then again they only have about 3000 retirees to worry about. Nov 15, 2006 ... Health care costs rise exponentially as people age. Toyota has only 250 retirees in North America.
GM pays for the health care of 339000 retirees - and the number grows every year. In contrast, Toyota pays for fewer than 3000 retirees' health care in
I know, GM should have put the money aside for the future.
Beginning January 1, Ford will put $1,800 into health retirement accounts for its Medicare-eligible retirees. The company disclosed the news in an e-mail to employees November 1 and in information packets sent to its retirees. Retirees’ spouses or domestic partners will receive an additional $1,800, according to Ford spokeswoman Marcey Evans.
To further the cause of global export, the Chinese government is pushing their domestic auto makers to merge into a "Big Three" and a "Mini Three." Given the government's protectionist views, once the mergers and reorganizations are over, GM, VW, Toyota et al will find themselves out in the cold.
My UAW negotiated wages allowed me to put my offspring in private schools. In turn one of them is on a full scholarship. That scholarship included room and board. The school threw in a lap top on the freshman year. He has had internships every year of college. This coming year he should be a chemical engineer and very high in demand. We have a good shot at a scholarship with my youngest too.
All of this is possible with good wages from UAW collective bargaining agreements. When corpoations and unions enter an agreement, both parties benefit. No one is twisting anyones arm and or hold a gun to anyone.
I love my God/country/union and its afforded me the ability raise a great family. I respect the sacrifice of those prior union folks. Everyone should have opportunity in this great country, its already been paid for.
Thanks for the link - it reminded me of concern expressed a few years ago that Boeing would lose their plane building advantage, specifically their wing technology, to the Chinese Japanese by expanding there. (Maybe to both countries? My memory is fuzzy). 787 Another View
China has one regional jet now undergoing FAA approval I guess, but it sounds like their aircraft industry still does way more business with Boeing than its own aviation industry.
Makes you wonder if Boeing will wind up moving their headquarters once again, from Chicago to Shanghai.
One of my co-workers who transferred from an Alabama plant that closed it doors told me about Chattanooga and VW yesterday. He hoped they would pick AL.
I pointed out that he is already working in St. Louis, a long way from his AL home, where his wife and family are still at, and why couldn't he do the same at a TN facility. He's thinking about it. VW hiring personnel might get nervous if they see someone walk in wearing a UAW logo on their shirt. Best leave that one in the closet on interview day.
One thing's for sure, we both have to make a decision by Halloween on whether to sit around and draw SUB pay or find something else. I'm in the "find something else" group. Hoping to hear back from Boeing. Close to home, excellent benefits and they're not as easily affected by $4/gal gas.
2doorpost, I came to the same conclusion. I am tired of waiting for a true car company to emerge. I am convinced GM will keep reducing in size until it's swallowed by Toyota or Hyundai.
It was my simple belief that VW would NEVER set foor in Michigan, and I was disagreeing with rocky who, IIRC, thought VW would be foolish not to set up in Michigan...Aside from cold weather, higher taxes (didn't the Democrats in Mich just raise taxes from their already elevated level???...and they think that attracts business???...) and the ubiquitous union worker and their entitllement mentality, Michigan has NOTHING to offer anybody...period...I would not sound so vehement if I had not spent 10 years there, and from all the cr*p I saw, it has only gotten worse, and it was rotten in the 1980s...
I believe I read it was Chattanooga, TN, literally right on the GA border line, so the 2000 anticipated jobs will spill over into NW Georgia...Michigan was only in the running of anybody that was high on drugs...
Prediction: in the next 20 years, when ANY major business, esp in the automotive field, sets up shop, while they may give lip service to Michigan, not one single company will actually go to Michigan, as one of the most business-unfriendly states in the country...take the business climate Taxes and regulation) from the government, which is rotten, combined with the worst place to find trainable labor WITHOUT an attitude, and you have a recipe for disaster...
Cheerleaders for Michigan are no different than passengers on the Titanic, telling themselves that the ship is unsinkable and indestructible, while the boat is tilting to one side, taking on water and sinking...I will always appreciate a positive attitude, but even cheerleaders must wake up and realize that Michigan is now part of ancient history, but nobody cares to go to the "museum"...
Quote: "Prediction: in the next 20 years, when ANY major business, esp in the automotive field, sets up shop, while they may give lip service to Michigan, not one single company will actually go to Michigan, as one of the most business-unfriendly states in the country...take the business climate Taxes and regulation) from the government, which is rotten, combined with the worst place to find trainable labor WITHOUT an attitude, and you have a recipe for disaster... "
Hard to argue with that
My son had been running a store near Detroit and one of his workers decided that they needed the night off after showing up. Did they go home "sick?" No. They set fire to the stockroom of the place hoping to go home early. True Story.
I lived there for 3 years back in the 70's and some of my family followed me there (and then I left, lol). It took me a few hours to figure it out, but now I know the industrial park where they are siting the VW factory - the old Tennessee Volunteer Ammunition factory grounds. It's been under redevelopment and hazmat remediation for years now. If fact, there's a short cut I often take through there going from my Mom's apartment to my brother's house down there - guess I'll have to find another route. There are old railroad tracks all through there too, and a few million kudzu plants.
Funny thing, one of my brother's favorite vacation spots is ... Michigan. They were up there last month and I'm heading there in a couple of weeks myself. :shades:
YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!...upper Michigan, the west coast, all of that is absolutely beautiful...Michigan is a great state for vacationing in the late spring and early fall, not too hot, not too cold...Mackinac Island is also a great place to go to visit...
For tourism, nothing like it...but, except for FL and Hawaii, few states live off tourism...
For industry, Moscow and Siberia are more business-friendly than Michigan...
For those who believe that Mich will come back with jobs, they are still waiting for the tooth fairy to bring them a quarter for the tooth they lost a a barroom brawl last week...
Yeah, as soon as you clear the southern part of the state it just keeps getting better and better. I would imagine that tourism is one of their larger industries.
Heck, here in NJ tourism is number tow or three behind maybe chemical/pharmeceutical.
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
I has actually heard the idea proposed. I have no idea whether it's feasible. It would be just the kid of crop you'd want - it grows like mad in anything if you have the right climate.
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
It grows a foot a day, 60 feet a season and can be harvested twice a year and not even hurt the stand.”
WOW, bring it on! Seems like there are all kinds of stuff out there to make ethanol out of.
Hi everyone My name is Doug Mizell (co-founder of Agro*Gas Industries, LLC in Cleveland, Tennessee). Thanks for your support of our company’s efforts to create renewable fuels from “Zero Valued Feedstocks” Our Mission Statement is to NEVER make FUEL from FOOD or FEED. We are in development of harvesting equipment as we speak through a Chattanooga company called GREENWAY LOGISTICS. We will use a multitude of feedstocks other than seasonal Agri-waste and kudzu alone. We are cotracting with several fortune 500 companies to utilize their industrial waste streams to make fuel. In addition to that the AG Community can be tapped for agri-waste after the food crop has been harvested. Even the present recalled tomatoe crop could be made into fuel if were made available to us.Processes from our ethanol production will compliment the growth of algae and we can make bio-diesel from the algae at a fanominal rate . Our processes and techniques produce only salable bi-products and NO hazardous waste of any kind. For more info on Agro*Gas you can google search: (Doug Mizell kudzu) and f
GA, kudzu grows well in toxic waste dumps, and would probably survive multiple nuclear warheads...
Kryptonite can destroy Superman...NOTHING, not even Superman with his heat vision, can destroy kudzu...even if Superman went back in time, kudzu is indestructible...kinda like cockroaches, only better...covers the lawn well, too, when you can't seem to grow grass...:):):):):):):)...hint, hint...
And to be sure to stay on topic, Superman would NEVER belong to the UAW...
Comments
Bottom line is that I spent lots of time in school and actively investing. Macro economics has served me well and I have gone beyond my expectations. I'm really perplexed at those who always want to privatize retirement funds. They are either churning, skimming, and or have some motive. They only come out during bull market.
Retirement income from employment is not what I count on. I have something better than an annuity. You might call it a perpetuity.
Back to the gist. Govt spending isn't an evil in itself. During the down cycle it creates a multiplier effect. Granted its less than that of private spending. Nonetheless it could keep an economy from going deeper into a recession. Govt spending or national debt is not desirable during times when the private sector wants to expand. At this time the cost of expanding is hindered and or put off all together. Then too, any spending or tax cut which causes expansion, also brings in more taxes, which is income to the govt.
What happens when those workers realize it's "Do as I say or we'll move overseas"?? Get fined $25 for spending more than 3 minutes in the restroom?? Work from 7-4 at Toyota, get up from your work station, punch out, and if you want extra work, punch in at a DIFFERENT time clock, go back to the SAME work station in the SAME plant and work 4-12 for "SCION" all at straight time???
The pendulum IS swinging away from unions having the upper hand. But what happens when the pendulum reaches it's limit???
Then some people will begin to understand why unions were formed in the first place. The main reason the non-union workers HAD their good paying job and decent benefits was because of the existence of unions. Many will not understand this until it is too late.
There will always be those (some of them are on here) who want the UAW and similar labor organizations to crash regardless of the consequences. They've been jealous for many decades of the good wages being paid. So what if the whole economy is going down the tubes, they say, as long as it takes the UAW with it. :sick:
Can't be no worse than what we have now.
It will be a LOT worse. The last 1.5 years of a Democrat Congress should be a wake-up call to the American voter. They are causing the problems we are in today.
How has a Democrat Congress helped the working man and particularly the UAW? They have only made things worse.
But we seem to be, alas, off-topic again.
Most of the union news seems to concern the Teamsters and the InBev deal. Although the white collar retirees at GM who are losing their health care benefits are wondering if they should have organized like the UAW workers. Cuts irk white-collar retirees (Detroit News)
Yeah those nasty unions like the UAW, are just rotten because they support democrats and demand a safe work place, and a fair wage for the work being done !!! I listen to all the gripes about this but rarely does anyone bring up executive wages. Just because you went to college for 4 or 5 years doesn't make you smart. Some of the dumbest people I ever met went to college, and have a degree. Any jack [non-permissible content removed] can drink coffee and choke down dognuts and give orders. If these cake eaters were all so smart they wouldn't bankrupt or go through billions. Look at some of the management in the Big 3 !!!! They've made more blunders than seconds I've been alive but each year they get to use the corporate jet, credit card, and get paid ridiculous amounts of money. Hell you could be on life support and be a oil executive !!!!
So yeah ya'll can hammer my pro-union & socialistic stance but I always have a response !!!! :P
"The Rock" :shades:
I'll bite. What do you think the execs are using the credit card for? And where do you think the corporate jets they are on are going that is wrong?
Letting the Bush tax cuts expire (which from what I understand Obama will do) will will raise taxes on every income tax bracket, reduce the child credit, AMT exemptions will decrease and reduce the standard deduction, etc. That will effect every wage earner.
I don't have a problem with unions in general. A safe work environment is important etc. Where I see unions presenting a problem is with work rules and wages. If the employer can afford them, great, if not, during bad times, a company needs the flexibility to control costs.
And yes, the big 3 management has been horrible for decades. Maybe those business schools up in Michigan aren't so great;)
What's happening with the auto industry is why I would never want to be (along with my kids) an uneducated laborer who's destiny is completely in the hands of the auto companies (or any company for that matter). That's putting all your eggs in one basket. Education gives you flexibility and more opportunity to move on with the $#*& hits the fan.
Like anything else, just having a degree doesn't entitle anyone to anything. It still takes motivation etc.
I know many people in many industries with various back grounds. Still opportunities out there.
My cousin (in his late 20's) works for the iron workers union out of NW Indiana. He makes close to $30 and hour plus all the o/t he wants. He told me they are always looking for people because many people who get hired as an apprentice end up washing out because they either can't make it to work on time due to being lazy, drunk or both.
Funny thing is, despite having a college-education and professional employment, I don't feel like I'm any more well-off than Dad was with his high school education other than the fact that I have a nicer car. In some regards, I'm worse off. I'm still single and don't have children. I see both marriage and children as a fatal error and fiscal suicide in today's dog-eat-dog world - a one-way ticket to crushing poverty. In my Dad's time, it was expected of you to have a family.
His approach was "Oh, well" and he went on to explain you just gotta do whatever needs to be done to cover it. I believe he had retired in 1988.
I have felt the healthcare and retirement were overdone and he essentially agreed; he was saying he'd just pay out of his [very adequate] retirement income from his work years.
How can GM reduce the healthcare for hourly workers and reduce their cost for building cars?
2014 Malibu 2LT, 2015 Cruze 2LT,
I am confused by the first part. The UAW will be taking over the health care in the near future. GM is supposed to make two? payments to a UAW run fund that will help pay for the UAW employees.
On the 2nd part they are doing many different things from lower wages on the hourly side to no salaried health care to lots of other stuff.
As far as health care we have an HSA where we pay no premiums but pay for most all health care up to a certain amount and then we start paying large deductables. We contribute to the HSA pre tax and whatever is left over at the end of the year stays there for the future.
21 new GM cars bought since 1974. Goodbye.
Balance is needed for all things. When balance is lost, change happens.
Obama will come in and his chance will be had to re-balance. The President is where the buck stops at the end of the day. Both Bushes had terrible last years in office.
Now it's your turn! And so it goes.
Regards,
OW
The understanding I get is that GM is reducing their payment of health coverage for salaried/retired... nicht wahr?
Re second part, one of the high costs discussed is the cost of healthcare to retirees from the hourly side. How can they reduce that cost?
I've been busy this morning and will look back at the posts this afternoon to see if I went awry in my thinking and verbage
2014 Malibu 2LT, 2015 Cruze 2LT,
IF that is what he said I am safe except on capital gains from selling my home. When and if it ever sells.
Here is something to think about. Maybe we can look at the executive pay starting back when Carter taxed them at 90%. When you are a CEO and negotiating your contract you will take that into account. If you were making $1 million and the IRS takes $900,000 of it you will probably tell the board you need more because the guy down putting on lug nuts is making $100,000 same as you are ending up with. So it was a windfall when Reagan cut that 90% down to under 40%. If you look close at these insane packages, most came about during the Dot.com bubble. That is when basing the salaries on stock performance was the wave that executives were riding on.
Just as many UAW guys will be looking for a new job. So will many white collar people and executives. It is harder for someone living on a million per year to survive than someone used to living on $50k or less. The UAW guy will find a job that he can survive on. The executive may take the easy path and jump out of a window. That is what happened in the Big Stock Market crash.
The neocon fed is a big reason for the problems today. Bernanke is not doing anything positive. Another rate cut should do wonders...seems to be all he knows.
True, and they are our elected officials and I'll add some in the media too.
No doubt stupidity has no boundaries.
Now I know loads of folks with multiple degrees and general life smarts but I also know some with the degrees and no sense at all.
Likewise folks with a high school education can be brilliant and just never went beyond that level of education.
Heck, if you want a good electrician you don't really care how much he can quote Shakespeare.
A guy I went to high school with went right into being a roofer. Within 4 years he owned the company. Last I saw him the only thing keeping him working was that he had 8 guys employed and he was looking for someone who would buy the business and keep those guys. Plenty good business head without classroom business education.
When you hit 65 as a salaried retiree, you are then on medicaid/whatever the govt provides. GM used to supplement that. Now GM will give you an extra $300 in your pension check and you can use that toward a health care premium.
Re second part, one of the high costs discussed is the cost of healthcare to retirees from the hourly side. How can they reduce that cost?
Hourly as of 2010 will pay for their own health care. GM will not. GM is making 2 large payments to the UAW (FISA?) that the UAW will invest and use for health care. If that money is not enough the UAW members will have to make up the difference.
GM has said they will delay the payments BUT they will be paying interests on the money until given to the UAW. That is the way I understand it.
21 new GM cars bought since 1974. Goodbye.
So who are you going to buy from? Ford and Chrysler dropped retiree health care last year. Toyota still has it but then again they only have about 3000 retirees to worry about. Nov 15, 2006 ... Health care costs rise exponentially as people age. Toyota has only 250 retirees in North America.
GM pays for the health care of 339000 retirees - and the number grows every year. In contrast, Toyota pays for fewer than 3000 retirees' health care in
I know, GM should have put the money aside for the future.
Beginning January 1, Ford will put $1,800 into health retirement accounts for its Medicare-eligible retirees. The company disclosed the news in an e-mail to employees November 1 and in information packets sent to its retirees. Retirees’ spouses or domestic partners will receive an additional $1,800, according to Ford spokeswoman Marcey Evans.
GM is paying $3600/year.
Close, it's Chattanooga:
steve_, "Can VW Overtake Toyota and GM, To Become #1 By 2010?" #33, 16 Jul 2008 3:35 pm
Seems like Bob/Marsha7 called it in here or somewhere.
Solidarity Brother
http://www.thetruthaboutcars.com/chinese-auto-makers-buying-what-they-need/
To further the cause of global export, the Chinese government is pushing their domestic auto makers to merge into a "Big Three" and a "Mini Three." Given the government's protectionist views, once the mergers and reorganizations are over, GM, VW, Toyota et al will find themselves out in the cold.
All of this is possible with good wages from UAW collective bargaining agreements. When corpoations and unions enter an agreement, both parties benefit. No one is twisting anyones arm and or hold a gun to anyone.
I love my God/country/union and its afforded me the ability raise a great family. I respect the sacrifice of those prior union folks. Everyone should have opportunity in this great country, its already been paid for.
ChineseJapanese by expanding there. (Maybe to both countries? My memory is fuzzy). 787 Another ViewChina has one regional jet now undergoing FAA approval I guess, but it sounds like their aircraft industry still does way more business with Boeing than its own aviation industry.
Makes you wonder if Boeing will wind up moving their headquarters once again, from Chicago to Shanghai.
One of my co-workers who transferred from an Alabama plant that closed it doors told me about Chattanooga and VW yesterday. He hoped they would pick AL.
I pointed out that he is already working in St. Louis, a long way from his AL home, where his wife and family are still at, and why couldn't he do the same at a TN facility. He's thinking about it. VW hiring personnel might get nervous if they see someone walk in wearing a UAW logo on their shirt. Best leave that one in the closet on interview day.
One thing's for sure, we both have to make a decision by Halloween on whether to sit around and draw SUB pay or find something else. I'm in the "find something else" group. Hoping to hear back from Boeing. Close to home, excellent benefits and they're not as easily affected by $4/gal gas.
Please, anyone but GM. Anyone.
2doorpost, I came to the same conclusion. I am tired of waiting for a true car company to emerge. I am convinced GM will keep reducing in size until it's swallowed by Toyota or Hyundai.
Regards,
OW
I believe I read it was Chattanooga, TN, literally right on the GA border line, so the 2000 anticipated jobs will spill over into NW Georgia...Michigan was only in the running of anybody that was high on drugs...
Prediction: in the next 20 years, when ANY major business, esp in the automotive field, sets up shop, while they may give lip service to Michigan, not one single company will actually go to Michigan, as one of the most business-unfriendly states in the country...take the business climate Taxes and regulation) from the government, which is rotten, combined with the worst place to find trainable labor WITHOUT an attitude, and you have a recipe for disaster...
Cheerleaders for Michigan are no different than passengers on the Titanic, telling themselves that the ship is unsinkable and indestructible, while the boat is tilting to one side, taking on water and sinking...I will always appreciate a positive attitude, but even cheerleaders must wake up and realize that Michigan is now part of ancient history, but nobody cares to go to the "museum"...
GM will probably survive the longest of the three.
What will I buy? Possibly a used late model pickup . Buyers market in this economy.
2door
"Prediction: in the next 20 years, when ANY major business, esp in the automotive field, sets up shop, while they may give lip service to Michigan, not one single company will actually go to Michigan, as one of the most business-unfriendly states in the country...take the business climate Taxes and regulation) from the government, which is rotten, combined with the worst place to find trainable labor WITHOUT an attitude, and you have a recipe for disaster... "
Hard to argue with that
My son had been running a store near Detroit and one of his
workers decided that they needed the night off after showing up.
Did they go home "sick?" No.
They set fire to the stockroom of the place hoping to go home early.
True Story.
Funny thing, one of my brother's favorite vacation spots is ... Michigan. They were up there last month and I'm heading there in a couple of weeks myself. :shades:
Michigan is a great vacation place. If it had a longer summer they could run their economy on tourism.
For tourism, nothing like it...but, except for FL and Hawaii, few states live off tourism...
For industry, Moscow and Siberia are more business-friendly than Michigan...
For those who believe that Mich will come back with jobs, they are still waiting for the tooth fairy to bring them a quarter for the tooth they lost a a barroom brawl last week...
Heck, here in NJ tourism is number tow or three behind maybe chemical/pharmeceutical.
Is that possible? I have seen pics of the stuff overgrowing everything. Is somebody proposing that?
Kudzu Ethanol Plant Startup in Tennessee, Cows Will Love It
Maybe they'll find Jimmy Hoffa's body in there somewhere when they start harvesting the stuff. (yeah, yeah, wrong union...).
WOW, bring it on! Seems like there are all kinds of stuff out there to make ethanol out of.
Hi everyone
My name is Doug Mizell (co-founder of Agro*Gas Industries, LLC in Cleveland, Tennessee). Thanks for your support of our company’s efforts to create renewable fuels from “Zero Valued Feedstocks” Our Mission Statement is to NEVER make FUEL from FOOD or FEED. We are in development of harvesting equipment as we speak through a Chattanooga company called GREENWAY LOGISTICS. We will use a multitude of feedstocks other than seasonal Agri-waste and kudzu alone. We are cotracting with several fortune 500 companies to utilize their industrial waste streams to make fuel. In addition to that the AG Community can be tapped for agri-waste after the food crop has been harvested. Even the present recalled tomatoe crop could be made into fuel if were made available to us.Processes from our ethanol production will compliment the growth of algae and we can make bio-diesel from the algae at a fanominal rate . Our processes and techniques produce only salable bi-products and NO hazardous waste of any kind. For more info on Agro*Gas you can google search: (Doug Mizell kudzu) and f
Kryptonite can destroy Superman...NOTHING, not even Superman with his heat vision, can destroy kudzu...even if Superman went back in time, kudzu is indestructible...kinda like cockroaches, only better...covers the lawn well, too, when you can't seem to grow grass...:):):):):):):)...hint, hint...
And to be sure to stay on topic, Superman would NEVER belong to the UAW...
Well that sure is not true. Will not grow up here in the north.