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Yep, it looks like GM has a more efficient hybrid. I wonder what the cost delta will be? $3000 -$5000 like the imports?
I think you meant PRCAW.
ROCAW would be the one in Taiwan.
-Rocky
According to an article in today's WSJ, a group named "Fitch Ratings" predicts that GM will spend $1783 per car built in the US in health care expenses this year. The article goes on to say that GM needs significant union health-care concessions this fall to keep its turnaround on course.
Wonder what is average amount that GM pays for health care for each union employee and how much that employee pays up front out of his/her paycheck. Also, what percent of total amount does GM pay and what percent does union employee pay.
To what extent are employees helping out to pay health care, not only union but non-union at GM. How are they helping their company.
Here's a guy who's the poster boy for all that is wrong with the housing situation. A very interesting site:
http://iamfacingforeclosure.com
:confuse:
Towing is exactly what the electric motors would be best suited for. It would make more sense to lock out the gas engine.
There was an Astra sedan concept unveiled in Turkey last year, but I think that one's not going to be imported since the "Astra sedan" is called the Cobalt here.
GM's UAW Retirees Face Health Care Costs
Some General Motors Corp. retirees, who now pay nothing for health care coverage, will have to pay up to $752 a year in deductibles, co-payments and premiums if a tentative agreement between the auto giant and the United Auto Workers is ratified, union officials said yesterday.
Union representatives were briefed in Detroit yesterday on the changes in health benefits aimed at saving GM $1 billion annually.
The GM health-benefits agreement would provide for a maximum expense on services for retirees of $370 a year for individuals and $752 per family, which includes newly increased deductibles. In addition, retirees would continue to have drug co-payments.
If the agreement is ratified, active UAW GM workers would not get a $1-an-hour pay increase that was to be part of cost-of-living and wage increases in 2006. Starting in December 2006, an additional 2 cents of each quarterly cost-of-living adjustment would be deferred. The UAW's GM contract expires in 2007.
GM pays health care for 750,000 U.S. hourly employees and retirees and their families. Hourly workers pay 7 percent of their total health care bill, while GM's 38,000 salaried workers pay about 27 percent.
The plan would not apply to lower-income retirees who have pension incomes of $8,000 or less.
GM insures 1.1 million Americans and spends $1,500 on health care for each car produced in the United States. Its health care costs in 2004 were $5.2 billion, with $4 billion going to retirees, according to GM.
Cost presently are $5.8 billion dollars in year 2007.
-Rocky
2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)
Seems pretty generous in comparison to situations of a lot of other retirees of US companies. There have been stories in media where some of them have continually eroding health benefits and are paying in the "hundreds" of dollars per month. Seems that GM ought to do what many other US companies are doing to reduce their costs. Its only fair.
-Rocky
That's how to fix a problem without damaging hundreds of thousands of people.
Rocky
Apparently the other US companies that are having retirees kick in hundreds per month were not so stupid as to get themselves locked in to unsustainable benefits promises. Don't see that the US taxpayer should have to bail out GM through our politicians in DC. GM will have to work themselves out of their mismanagement (on many issues) in past decades.
But something like $2500/year in premiums and then copays and deductables.
In the short run, it would reduce their costs, as it would shift costs to the federal government.
But someone still has to pay for those benefits, and the federal government can't just print more money to do so, without risking massive inflation.
In other words, what is now happening at GM and Ford, would instead happen on a national scale.
Costs will rise, unless cost containment measures are taken. Since most of us have no desire to pay 50 percent of our income in taxes, something will have to give.
And please don't use the old "tax the rich" nonsense - if we taxed the rich at 99 percent of their income, it would only be enough to fund the federal government for about six months. The middle class will end up paying those higher taxes.
The answer is cost containment measures, will consist of greater co-payments for doctor visits, hospital stays and perscription drugs, along with rationing for other services. (In other words, the same thing the UAW is complaining about right now.)
People will rely on private insurance policies to fill the gap (as is happening in many European countries).
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
They didn't "save" GM. They saved it some money. This agreement hardly puts GM out of the woods.
rockylee: Instead of eroding folks benefits and making the shareholder's, executives, multi-million dollar purse strings take care of your obligations and stick a little money at the problem and see if you can get things changed in D.C.
Executive compensation pales in comparison to the costs of providing benefits to GM employees - both white-collar and blue-collar. Even if GM's executive team worked for $1 a year, the forfeited pay would not make a big dent in these expenses.
As for shareholders - many are GM employees (including UAW members) and pension funds. Those dividends don't just benefit fat cats.
rockylee: That's how to fix a problem without damaging hundreds of thousands of people.
Asking people to pay a portion of their health care benefits is hardly the end of the world, whether it is done by GM, or the federal government (which it will have to do, if any national system is to remain solvent).
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
Toyota's expertise is in small and midsized vehicles so it's natural that's the point that they would start with their hybrids. Thus far they've been proven correct.
GM's expertise is in heavier vehicles and it's natural that they'd start there with their hybrids. Why fight Toyota and Ford and Honda in the small-vehicle-market? GM was very smart to go a different direction and go to it's expertise. Now it stands alone in the heavier vehicle segment while Toyota and Honda and Ford fight over the midsized and small vehicle market.
It's the same with the lambda's. That's another marketing coup for it's products because while they've exited the minivan market they still can attact those need real 7 and 8 passenger vehicles but in the guise of an SUV rather than a minivan.
Going a different direction with solid products is a blueprint for success.
What about this alternate viewpoint. GM and Toyota are working in tandem to promote/develop hybrid technology. Toyota's is the best for midsised and smaller vehicles GM's ( still to be proven ) seems best for heavier vehicles. Now the two leading manufacturers in the world are pulling the rest of the market behind them, dragging it into the 21st Century.
I was under the impression that new V8 Impalas could be had for $26k or so. Is GM really trying to sell them for $34k?
2014 Malibu 2LT, 2015 Cruze 2LT,
It's far too early to judge what will be the benefits of the 2-mode vs the HSD vs the IMA. For the initial period ( years ) there will be very little direct competition. There will be no GM vehicle getting 45 - 50 mpg Highway as with the HCH or the Prius and there will be no Toyota or Honda trucks getting just under 30 mpg Highway.
The only close comparison will be the 2-mode Aura and the TCH.
Even my house DID greatly increase in value, I wouldn't take out a HELOC except under the most dire circumstances. I've been getting junk mail just about every day urging me to take a HELOC so I can "Take that Dream Vacation or Pay Off Credit Card Bills!" Heck, I have no credit card balances and a backyard barbecue or spending the day washing and detailing my long since paid-for cars is enough of a vacation for me!
The problem with health care is that the increase in cost is unpredictable.
With pensions, the costs can be reasonably predicted - a person will receive X amount of dollars per month, and, based on the life expectancy for that demographic, can be expected to live X number of years.
It's not a perfect method (about a year ago, I remember reading about a 104-year-old retiree who left GM in 1958, and has been receiving benefits since that time), but costs can be reasonably estimated.
With health care costs, GM is on the hook for new drugs, treatments and procedures that may not have been invented when the contract was signed.
For instance, when GM agreed to provide these benefits, for many illnesses (serious heart disease, cancer) the main method of treatment was easing the patient's pain until he or she died.
And, of course, there was no such thing as Viagra, because no one thought of treating this...problem...with drugs.
Now there are all sorts of new, effective - and often, very expensive - treatments for many ailments that are common as we age.
It is my understanding that, under the contract, GM is responsible for paying the health care costs of retirees, without many limitations on WHAT constitutes health care. So if a new cancer treatment regimen is introduced, and it works, but is very expensive, GM is obligated to pay for it.
The main exception is that many plans will not pay for what are considered "experimental" treatment regimens.
http://kevxml.windstream.net/_1_2U7WTO10428SDOI__wind.main/apnws/story.htm?kcfg=- apart&sin=D8OSUODG0&qcat=news&ran=29867&feed=ap&
-Rocky
The man running that blog lost all of his houses, is up to his eyeballs in debt, and living in a place owned by his wife's sister (and behind in the rent!), but he still resists getting a regular job, because he knows that the "big score is just around the corner, and he can make it work."
It's mind-boggling...