What Bush's gift to Detroit really means

[Willie99]

Free pass to keep losing money

Bush said that the recipients must become viable/profitable within three months, meaning the employees who's jobs have been saved have to take pay cuts.

Reality? they'll get their money and then Obama and the Democrats will waive any and all restrictions the Union's don't like.

Bush knows this too, but he'll let Obama take the fall.

Fucking sad

 

[roadreeler57]

The problem on the labor end of it is you have retirees sucking hind tit til they are in their 80s or 90s...They got great pay while they worked that should be enough.

 

[eek.]

It delays the inevitable demise of the US auto industry, and will save money in the longer run.

If they get lucky it will help to turn the auto industry around again, like with chrysler in the early 1980s.

I thought they were MAD trying to save Chrysler back then, but they did it, bringing her back from the brink, and got another 20+ years of profits and jobs out of the rescue.

America is a tuff place, and can rise to challenges.
Britains car industry snuffed it for good about the same time.

 

[tiznow]

all the patch up jobs over the years unraveling all at once

as the deflationary spiral of death sucks in more victims

none of it was sustainable in the long term

 

[pubguy]

The problem on the labor end of it is you have retirees sucking hind tit til they are in their 80s or 90s...They got great pay while they worked that should be enough.

Really? WTF?

 

[barman]

Really? WTF?

Reads to me like RR must not have much of a pension plan in his current gig, so why should anyone else have one?

 

[TheRightSide]

Reads to me like RR must not have much of a pension plan in his current gig, so why should anyone else have one?

Barman the problem is the big 3 just just keep paying these people till they die. The other car companies do not have this enormous cost. How are they to compete with those other companies?

Also it mean TheRightSide has maybe another year of employment.

 

[barman]

That's pretty much the way most major corporate pension plans work.

Difference is that most other major corporations monthly retirement bennies are a lot smaller percentage of peak salary during employment years.

Clearly, part of any reorg must address this overload while protecting retiree's base cost of living.

 

[roadreeler57]

It delays the inevitable demise of the US auto industry, and will save money in the longer run.

If they get lucky it will help to turn the auto industry around again, like with chrysler in the early 1980s.

I thought they were MAD trying to save Chrysler back then, but they did it, bringing her back from the brink, and got another 20+ years of profits and jobs out of the rescue.

America is a tuff place, and can rise to challenges.
Britains car industry snuffed it for good about the same time.

I always wanted a Jaguar.... I think Ford made a mistake by selling Jaguar.. Nice Cars........Anyway you're right in your post the Auto business is a tough business... I hope all our domestic Co's over here survive like Chrysler did a few years ago.

 

[fletchisrhsm]

Free pass to keep losing money

Bush said that the recipients must become viable/profitable within three months, meaning the employees who's jobs have been saved have to take pay cuts.

Reality? they'll get their money and then Obama and the Democrats will waive any and all restrictions the Union's don't like.

Bush knows this too, but he'll let Obama take the fall.

Fucking sad

Well said Wullster. Like i have always said, this fucking Bush is a Liberal through and through. We need a real fiscal conservative to step up to the plate, in the ron Paul ilk, or we are going to be in big trouble, to say the writing is on the wall is a redundant understatement.

 

[tkf18ny]

Barman the problem is the big 3 just just keep paying these people till they die. The other car companies do not have this enormous cost. How are they to compete with those other companies?

Also it mean TheRightSide has maybe another year of employment.

well thats those companies faults for agreeing to those terms not mine
let them rot

 

[billbeater]

The problem on the labor end of it is you have retirees sucking hind tit til they are in their 80s or 90s...They got great pay while they worked that should be enough.

Well said, i know some, and these crazy GM nutfuks actually think they are worth the money! They are the same people who could never seem to get you or i an application, since one has to have a sponsor to get hired. Who ever heard of that bullshit...

Another thing that gets me, is that the engineering and educated jobs were mostly done through EDS, probably to keep benefits down. EDS didnt have a union or union wage?

Fuk em all and they can die! :toast:

 

[Woody0]

Barman the problem is the big 3 just just keep paying these people till they die.

No, the problem is these companies acted like government and stole the pension money for current operations and takeovers of foreign companies instead of setting it aside in employee trust accounts.