I'm very torn on this whole deal. I'm against goverment bailouts but I kinda have a different feeling on this. I shouldnt call it a bailout as it is a low interest loan.
GM Facts and Fiction
GM Facts and Fiction
GM is looking for some help (1 Viewer)
- Thread starter Mike
- Start date
If it's a loan I say yes, if it's a Bailout I say Hell no! GM saw this mess coming 10-15 years ago, yet continued making these ridiculous deals with the UAW bankrupting the industry!
FINMAN
Nitro Member
A GM worker cost GM an average of 80 dollars per hour with benefits, insurance , retirement etc.
On the other hand, you have Toyota, it costs 35 dollars per worker( in the USA ) including the benefits, why, they get paid 25.00 / hr and 10 dollars in benefits, where as GM workers make 35.00 an hour and 45.00 /hr in benefits. It doesnt fit the accounting, thats why they are going under.
Toyota is # 1 in profits as far as auto makers go, and there making millions and are not in trouble with banks.
I'm all for giving low interest loans to big business, but no bailing out. They have known for around 5 years now they would be in this situation.
If GM or Chrysler, Ford happen to fail, alot of other business goes down with them. Delphi for one, makes all the steering systems for GM, they have been in the red for 4 years or more. It will snowball to all companies that make parts for the big 3.
If Chevrolet would just release that so called Camaro that they invested heavily in, just maybe they could realize some profit.
On the other hand, you have Toyota, it costs 35 dollars per worker( in the USA ) including the benefits, why, they get paid 25.00 / hr and 10 dollars in benefits, where as GM workers make 35.00 an hour and 45.00 /hr in benefits. It doesnt fit the accounting, thats why they are going under.
Toyota is # 1 in profits as far as auto makers go, and there making millions and are not in trouble with banks.
I'm all for giving low interest loans to big business, but no bailing out. They have known for around 5 years now they would be in this situation.
If GM or Chrysler, Ford happen to fail, alot of other business goes down with them. Delphi for one, makes all the steering systems for GM, they have been in the red for 4 years or more. It will snowball to all companies that make parts for the big 3.
If Chevrolet would just release that so called Camaro that they invested heavily in, just maybe they could realize some profit.
"Dr. Dirt"
Nitro Member
They need to look to the Unions first! As has been stated, without a correction in labor costs, what's the sense in attempting to fix an already broken system? I know there are UAW workers who disagree but from the outside looking in, it is impossible to economically move forward with these wages vs the wages other companies are paying. It doesn't take a genius to know why more and more of our American made cars are being built out of the country.
Nitrohaulic
Nitro Member
I'm not so sure the unions have the workers' best interest in mind. If you started to get near that Toyota wage, you know they'd be screaming bloody murder and striking for how long? They'd rather run it into the ground and out of business by not being realistic with what the company has to compete with, which they've done for how many other US companies?
How many of us would LOVE to go to work for GM for $25 an hour and $10 in bennies? Many of us just might have to consider being an employee again!
Reminds me of the old Levis factory in my hometown. Seemed like every time you turned around in the 70s, they were striking because $10 an hour wasn't enough in our $5 an hour town. Now it's an empty building.
How many of us would LOVE to go to work for GM for $25 an hour and $10 in bennies? Many of us just might have to consider being an employee again!
Reminds me of the old Levis factory in my hometown. Seemed like every time you turned around in the 70s, they were striking because $10 an hour wasn't enough in our $5 an hour town. Now it's an empty building.
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