Time to break the unions.
Not that it’s hard but, I’d bet you could’nt put up a decent argument about unions.
besides the fact that highschool dropouts would do the work just as good for $9/hr
I don’t feel like having another union thread, but not all union members are unskilled and nobody would do that kind of work for 9/hr. Burger King can’t keep people for 9/hr.
Edit: Your young ass couldn’t put up an argument either. You just restate what you read on this forum.
I bought into silver a while back.
I would personally wait until the summer lows kick in to buy silver and then reap the profit during the fall supply increase.
Unless the dollar drops off the face of the earth during the summer, then silver is up, up and away.
I personally fall into the belief the US is heading for a depression of some scale (as some of you already laugh at me for) and believe silver is a good long term investment, or more so a hedge against the falling dollar and market.
FYI: the dow and the price of gold have met two times in history and there is a chance it could happen again.
^^attaboy
At around $9 a share the market cap is about $5 billion (currently at $6.6 billion). I predict it goes private if it hovers below $10 for a while.
$10.06 a couple mins ago
$9.99
Actually the problem is that a bunch of high school dropouts were doing the work because they were “referred” by previous employees and family members. You could only get in if you knew somebody. They hadn’t had a real interview process until a few years ago when I got in. The place was/is a mess and I just couldn’t deal so I left.
Yes, a lot of the work is no-brainer, like assembly and presses but manufacturing and machining like I do, there aren’t any high-school drop-outs that are going to be able to do it, or at least do it properly. That’s why assembly/etc. makes $4 less an hour. The rest is skilled trade and it doesn’t matter where they work, they get their $30/hr regardless and don’t try to tell a welder or pipe fitter that a drop out can do his job, you’ll be lucky if you leave on two feet.
$9.69. They just got kicked off the S&P 100 and are fighting bankruptcy rumors. If you don’t think they’re going to die it could be a good time to buy.
Ford’s below $5 too.
when enron fell i know alot of people at work who put all there pension money into it thinking theres no way it will go lower, and thinking after the scandel it would jump back up to even half its original price.
Ouch, haha.
GM to announce a further cost-cutting plan this morning
General Motors Corporation To Announce Further Restructuring Steps-Complete Story
Monday, 14 Jul 2008 04:00pm EDT
Reuters reported that General Motors Corporation is set to announce further steps to cut costs in the face of slumping sales. The Company said it would detail what it is doing to align its operations to current market conditions. The cost-cutting will include widespread job cuts for white-collar workers, including engineers assigned to now-frozen efforts to develop GM’s next generation of full-size SUVs and pickup trucks. In addition, the Company is expected to detail steps to conserve cash – including possibly eliminating dividend payments – as it prepares to raise capital to carry it into 2010 when it will begin to capture large savings from a contract reached last year with the United Auto Workers union.
Hm. Not that misteroman ever knows what he’s doing with money, the poor broke bastard, but it sounds like now might be a good time to buy and hold for a couple of years…
@ 9.50 right now. I like the sound of their new plan but I’m still not buying.
One thing they are doing is allowing their Tier 1 suppliers to sell OEM into the public domain… not through dealers or direct to dealers.
Delphi is working on bringing their airbags to market as certified OEM into the collision industry.
In part this is due to a slow sales were the OEM is required to purchase a certain number of units, they are falling short, the Tier 1 guys may then be allowed to integrate forward.
also, typical American behaviour here…failing to see beyond your own borders… GM and the others are venturing overseas for production and sales.
i read that Buick sold more units in China in 2007 than they did in the US, at least with the Rendezvous or something…
India and China are monster growth markets and they are consolidating fast. Used to be 40+ automakers, i think there are under 30 now… maybe as few as 20.
No doubt that GM knew this would happen 2 decades ago.
I would seriously suspect that the publicity around the failing company is to fight the union, fight the pension funds, kill off alot of the debt, enter bankruptcy protection, federal buy out, gets bought by JP Morgan or Cerberus, parts sold off… re-emerges as international monster after merging with Chery or Tata.
I would also not rule-out the same thing with Starbucks, in light of all the publicity around their closing 400 stores… That was a fundemental part of their growth strategy was to hammer the markets, put the other guys out of business, then pull out and consolidate.
if they were heavily financed for the growth and start to buy back their shares in the coming months you can all consider yourself fooled.
No way in hell GM folds when there are hundreds of billions of dollars to be made off of the resurgence or bailing out of the company.
Was at $8.87 at 10am this morning. :uhh:
Rumours milling around of Delphi closing their doors…
And now it’s at $14.62, or 65% higher than when this post was made 9 days ago. :jawdrop: