Detroit bailout

[WaterMan]

I heard it was struck down because Republicans wanted Union workers to take a pay cut. I guess this message is: if your job hasn't been eliminated or outsourced to China/Mexico, then you should gladly take a pay cut. It's Merican.

[Puddy]

The future of the auto industry if don't keep Detroit in charge.

[bushwacked]

I'm learning some really interesting things from you, Grunt. Tell me again how sheep's bladders can be used to prevent earthquakes?

 

Complaining about how easy it is for people to get manipulated by the media then simply posting blogs without being able to articulate a point makes Grunt all the more special.

[AtomicCEO]

Complaining about how easy it is for people to get manipulated by the media then simply posting blogs without being able to articulate a point makes Grunt all the more special.

 

Believing everything you read without understanding it is the key to fighting the liberal media.

[TimC]

The future of the auto industry if don't keep Detroit in charge.

 

That ugliness would be the new Corvette if one of these gawd-danged companies that we bombed in WWII win. The Japs can't make a car worth a crap in style and performance and the Germans talk funny....well, actually everything those Huns say sounds angry. We should force everyone driving a foreign car to pay special taxes directly to Detroit.

[theeohiostate]

GM has decided to now open a new plant in China.

 

It's good to see our government has used more of our tax dollars to help the China economy

[Outshined]

GM has decided to now open a new plant in China.

 

It's good to see our government has used more of our tax dollars to help the China economy

 

I heard for every car sold here, $5,000 goes to fund the pensions. No wonder cars are so expensive. I have never bought a new car and I never will unless they become more affordable. I usually buy used after the depreciation. They are also building them in Russia too... And India. I suppose they wouldn't make any money if they made them here and exported them to those countries. I am sure the cost of a vehicle in those countries is a lot less than $20,000. It would be interesting to find out.

[AtomicCEO]

I heard for every car sold here, $5,000 goes to fund the pensions. No wonder cars are so expensive.

 

BS. Pensions are funded by deferred salary of the employees.

 

If the management of that pension fund is so poor that it is underfunded, then that is GM's fault.

But, it isn't underfunded. This is just a scare tactic.

[Kid Cid]

The future of the auto industry if don't keep Detroit in charge.

Nothing is really new. Elf Racing ran the Tyrell P34 on the Formula 1 circuit for a couple of years with remarkable success.

[wiegie]

And your link in response to wiegie (an economic professor in case you didn't know) doesn't answer his question. He's being more tactful than I am - you're making up stuff and you have no idea what you're talking about.

I will say that I was open to listening to Grunt's explanation even though it goes against everything I have ever read, been taught, have taught, or seen in the data. And when he posted a link, I was actually intrigued. Of course, I was less intrigued when I read Grunt's link and found that it said exactly the opposite of what Grunt was arguing.

Edited December 17, 2008 by wiegie

[Outshined]

BS. Pensions are funded by deferred salary of the employees.

 

If the management of that pension fund is so poor that it is underfunded, then that is GM's fault.

But, it isn't underfunded. This is just a scare tactic.

 

 

And how are the deferred salaries funded?

 

I googled it and could only find this article from 2005:

 

It also has crippling employee healthcare and pension costs, projected to hit $5.6bn this year. That adds $1,125 to the cost of every car sold domestically " bad news when you're trying to compete with the Japanese.

 

Link

 

I guess that number would include health care too, add $1125 to what the previous costs were and then what the costs are today and it wouldn't surprise me that it is around 5k.

Edited December 17, 2008 by Outshined

[AtomicCEO]

And how are the deferred salaries funded?

 

 

From the salaries.

[WaterMan]

GM has decided to now open a new plant in China.

 

It's good to see our government has used more of our tax dollars to help the China economy

 

Corporations don't need bailouts. They have been bailing out on American citizens all ready.

 

1) Overprice your products

 

2) Screw your employees

 

3) Hire more illegals than legals or just ship those factories over seas.

[theeohiostate]

Chrysler will shut down all manufacturing plants for 30 days at the shift change on December 19.

 

 

Caught this on a blog. Can't imagine this is good news. Well, with employment estimates out Thursday and this bad news, we're sure to have another artificial rally on Wall Street.

 

 

 

http://www.marketwatch.com/news/story/Chry...A-AAD243E4C36F}

Edited December 17, 2008 by theeohiostate

[millerx]

Chrysler will shut down all manufacturing plants for 30 days at the shift change on December 19.

 

 

Caught this on a blog. Can't imagine this is good news. Well, with employment estimates out Thursday and this bad news, we're sure to have another artificial rally on Wall Street.

 

 

 

http://www.marketwatch.com/news/story/Chry...A-AAD243E4C36F}

Yep. They mentioned this on ABC Nightly News. NOTHING WILL BE BUILT FOR A MONTH! No cars, no trucks, No SUV's....nothing.

 

Oh, and the employees will not get a full paycheck. Paycheck?? They will get supplemental pay from Chrysler.