Kenimpzoom's troll of the week-Unions

stan_deezy

stan_deezy

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Re: Kenimpzoom's troll of the week-Unions

Er, I'm not sure I understand this statement in the article:<br /><br /> GM isn't out of options. For one, it could sell its GMAC finance unit because it generates most of the profit and cash flow, said Mesirow Financial economist Diane Swonk. <br /><br /><br />Then again I'm not a business analyst etc: but surely if you have one part of your company making money and one part not making money then the bit you actually sell off is the loss making bit :confused: <br /><br />It is a pity the unions lost sight of what they were actually set up to: Protect The Working Man :rolleyes:
 
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Ron G

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Re: Kenimpzoom's troll of the week-Unions

I thought unions were like horse and buggy,alright for a few but absolete.just my 2 cents
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

Stan, I saw that too and wondered, "what idiot wrote that".<br /><br />Ken
 
jtexas

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Re: Kenimpzoom's troll of the week-Unions

Stan, in a cash-flow crunch, you consider selling any asset - in this case a business unit that can generate lots of cash immediately. Not sure if this is the case here, but sometimes a cash infusion to pay off debt & update aging equipment can turn a company around. Of course sometimes it's just throwing good money after bad.<br /><br />But a wage reduction from $27 to $10 per hour? That is brutal!
 
stan_deezy

stan_deezy

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Re: Kenimpzoom's troll of the week-Unions

Kiz, I watched a British company do just that: it owned power stations in the US and when the British company ran into financial troubles it sold off the very profitable American stations :confused: <br />The British company then went over the edge......but by then most of the directors had jumped ship and been "employed" by the US company.<br /><br />I smell a rat :D
 
stan_deezy

stan_deezy

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Re: Kenimpzoom's troll of the week-Unions

Originally posted by jtexas:<br /> <br />But a wage reduction from $27 to $10 per hour? That is brutal!
Click to expand...
quite agreem and the knock on effect would be devestating to the local economy that relies on those workers to spend their wages.<br /><br />I can see why you might sell assets to refinance new machines, infrastructure etc but I reckon if your product/market share isn't that great then surely you have to look seriously as to whether you are in the right business?
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

Jtexas, I can see your point, but selling off your profits will probably tank your stock price, not to mention what it will do to your credit rating.<br /><br />Ken
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

Stan GM's market share is still very good. If GM stopped making vehicles, there would be a tremendous gap to fill.<br /><br />Yes the whole state of Michigan is in jeopardy.<br /><br />Ya know, I dont mean to offend anybody, but making 27/hr for putting cars together is just overpaid. I can see supervisors and managers making that kind of money, but line workers, no way.<br /><br />Ken
 
pjc

pjc

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Re: Kenimpzoom's troll of the week-Unions

here comes the union hatred ire again. consider that these American workers pay income tax based on the $30 an hour wages, soon to be $10-15. less tax revenue that the rest of us can plan on making up for. and those wages supported real families. <br /><br />I liken the "hooray for union defeat" chant similar to folks who cheer terminally ill children dieing 'cause they won't be a burden to the medical system anymore. Harsh comparison..but valid.
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

pjc, I dont think anyone will be happy, but the blame rests with someone.<br /><br />Maybe everyone should be paid 50 dollars an hour minimum, so we can increase tax income.<br /><br />"Yes, I would like a big mac with fries". "Yes sir, that will be 32 dollars". :eek: <br /><br />Ken
 
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imported_Curmudgeon

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Re: Kenimpzoom's troll of the week-Unions

..but making 27/hr for putting cars together is just overpaid.<br /><br />It might be for junior employees, but how about those with 25-30 years? Most don't make $27, but that gets lost in the shuffle. I also suspect you have little reference when making such a statement. Sorry ...
 
magster65

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Re: Kenimpzoom's troll of the week-Unions

I'd like to see everyone make a good living with what they do. The high paying union jobs are out there for everyone to vie for. Go get one if you want. It may happen in the far distant future but we'll never see all of society get paid exactly what they deserve or earn. Some jobs are underpaid, some are overpaid and some are 'right'. Get over it.<br />btw, I'm in a union (obviously) and I, as well as everyone I work with do NOT want a bunch of lazy unskilled workers on staff, nor do we have that. Our wages are set by the implementation from the Feds of a job equity / pay equity program that sets our wage according to direct comparisons with the private sector. I wonder if the UAW would settle with this as we were legislated to accept. If they did I'd bet you wouldn't see much of a wage reduction though. Those are skilled positions in which the company's reputation is at stake. <br />Really, I think the 'lazy union worker' is more of a product of the late 80's and 90's... not of today’s union.<br />(imho)
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

Old Cur, your right I dont have any idea what UAW pays. It was stupid of me to trust the media, cause they rarely get it right.<br /><br />Anyone know the pay scale for UAW?<br /><br />Ken
 
tommays

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Re: Kenimpzoom's troll of the week-Unions

the unions are not the auto industry problem <br /><br />The problem is the Ponzi scheme method of funding heath and retirement benefits has caught up with them in a BIG way <br /><br /><br />They are also competing against foreign companies whose governments funds these things and not the company<br /><br /><br />tommays
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

Unions arent bad, but they seem oblivious to what is going on in this world.<br /><br />They cant expect to compete with worldwide labor, and there are no rules to prevent a company from having their goods made overseas.<br /><br />They just seem to be blind to the problems, and its gonna cost more workers their jobs.<br /><br />Would you rather employ 10,000 people at 10 dollars an hour, or 5,000 people at 20 dollars an hour?<br /><br />Whats really stupid is they actually played right into GMs hands. They wanted bankruptcy so then they could fire a bunch of people, and move many jobs offshore. The union leaders sold them a bill of goods, and now there will be a bunch of unemployed.<br /><br />Look at what happened to Daweoo in Korea. Daweoo said, we have to fire half the workforce, or the company will go down the drain. Union said no, so six months later, they were all out of a job.<br /><br />Ken
 
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kenimpzoom

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Re: Kenimpzoom's troll of the week-Unions

Tommays is right, pensions were a big mistake. They were great in the 50s when health care was cheap and nobody lived past 70 yrs old.<br /><br />Now they are paying tons of money to people that dont even work there anymore.<br /><br />Airlines are in the same problem.<br /><br />Pensions are just a deffered salary. A good way to make profits look good now, but they will tank when everyone gets old enough to collect.<br /><br />Ken
 
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txswinner

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Re: Kenimpzoom's troll of the week-Unions

Please justify for me the CEO of a company making $25,000,000. Bunk not worth it, just that is control. Management teams are the problem with American industry not labor cost. ENRON anyone.
 
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txswinner

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Re: Kenimpzoom's troll of the week-Unions

Who is going to buy the new cars when all you make is $10/hr. And remember labor no longer is just the low life blue collar but all you white collar lower "management types" and certainly you computer geeks, we can replace you with our friends in India and Pakistan etc. Hear the whoosh.
 
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txswinner

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Re: Kenimpzoom's troll of the week-Unions

Magster, People who are anti-union usually have no idea what they speak of. I am not a union man anymore, in fact I am an owner of a privately held corp with a nice employee benefit plan. I am proud to say I have the finest non-union group of workers I know of. However, I do maintain a benefit package and wage standard matching union levels. Not to keep out the union but to maintain the product of work at the union level. Unions are labor and labor is America.
 
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