thats a tough nut.
Buying Chrsyler would give them some cash.
They don’t have the cash to buy chrysler.
They are not going to have any capital at this rate…
And down to $2.41 today. Yay downward spiral!
No one has jumped yet. I will continue to watch.
Soon the share price will match the gas price.
Edit: we are well below $2 here
http://www.detroitgasprices.com/
I just got back from Buffalo and was laughing as I crossed over.
The duty free gas was almost a dollar spread from Buffalo.
3.37, if they get aid supposably common shareholders are screwed, but im keeping my eye on it, and best buy
Thats the problem they dont even have the cash to buy themselves some time. and if they do get government aid how long will that last ?
10 billion will get them through to 2010
Very true, man its just prolonging imminent demise though, the government can only give so many bailouts, my guess is by 2015 at the latest they’ll be bought up or gone.
anyone looking for a 40 yr old(2015) unemployed male with vast screw placing capibilities?Need $30 an hr plus full benefits.If so PM me lol.
I can get a few stable jobs right now at $20 an hr,full bens,9-5 m/f and get $140k from GM to quit.Might start getting tempting.Or just living a normal life and retire in a yr or so.
D
Damn just typing 40yr old even if in 6 yrs has me really feeling old right now.Is it that close???
Ugh sounds like my dads situation at dunlop, hes 53 years old been there for 32 years !!! 30 something+ and hour and they wanna give him a 40k buy out and some half assed pension and send him on his way, what a fucking joke, I mean what are these guys gonna do they have the braun of a bull but the skills of a monkey and these companies are going to leave them on the street with nothing, its purely an insult.
^So, what do you think Dunlop owes him at this point?
Just curious.
I have no Idea, It was just an example of how all the tanking companies are leaving there workers out to dry weather they can help it or not, and how screwed we all are, its his own fault for not getting a more promising career IMO, but hes far from alone in the screwing that the auto workers and others are looking to take. Oh and if he could keep his job until retirement and be given a nice pension that would be great.
I was just laid off from continental automotive system (formally motorola) being a temp of course I was kicked out with shit, but hired workers arent making out much better, its like a fucking 1200-5k severance, and thats it. so I guess some workers are a bit more screwed that others, it really is a joke
Not to be a dick but, if he missed the writing on the wall, the onus is partly on him as well.
yeah, it is a shame.
either a bunch of people get screwed, or a ton of people get screwed.
Perhaps instead of all the benefits and pensions, they should of offered their workers a performance/profit sharing bonus. It would of given them a reason to excel/be as efficient as possible, and not hurt the company so bad during tough financial times. You can’t help but feel bad for everyone.
However, hindsight is always 20-20.
Again, it is that whole “global market” thing.
We got to live “high on the hog” for many years.
It seems like everyone in the USA is paying the price now.
Oh of course, I agree 100% but think how many people in this country are in that situation, Hell narrow it down a bit and bring it closer to home, think how many people in WNY are in that situation, they got a supposed “Good” job years ago with little formal training and now there going to be left on the streets with nothing, theres no good to come from any of this. I really do dislike the American auto industry but Our country and more importantly our city depends on it.
There is at least one good thing that will come from this, we will be more competitive in a global market if these companies trim the fat.
The bad news is all of the pain we have to endure to get there.
Yep, it will be a rough learning curve for sure
Hopefully this will come as no disrespect to your Dad but I mention the same thing to the people here at the engine plant who have 30+ yrs and won’t retire because they can’t.WHAT THE HECK DID YOU DO WITH ALL THAT MONEY IN THE LAST 30YEARS!!!There are many instances where stuff happens( 5 kids going to college,illness,etc) but the majority of these ppl have very little savings here.I know ppl I started with 10yrs ago that still live in apts and drive junk cars as they have no money.
i.e.
There is a couple I work with,he has 38yrs and she has 26.They both make minimum
$75k a yr and would be surprised if it wasn’t 90K a year as they work every min. of OT they can get.They have NO KIDS.I asked them why he didn’t take the buyout in June and they said they couldn’t afford it!!!
Imagine how shitty they’ll feel if GM goes chapter 11 and their pension goes, “POOF”.