LOL. aaaaaand you continue to miss it. I’ll wait.
:smash2: riiiiiiiight. sorry i have a bridge to jump off. sorry i didnt have coffee today hahaha
Got it now? lol. :mamoru:
hahahaha yes… thanks paulo.
My first “GM Is Retarded” moment is when I realized a Lexus ES and a Camry were pretty much the same car. My second was when I saw a Ford Crown Victoria and a Mercury Grand Marquis and couldn’t tell them apart til the guy in the Crown Vic pulled me over.
^lol.
Im am in the UAW. I make 15/hr.
Where do you work and what do you do though?
I worked on the line at Toyota as a SUMMER STUDENT and made $29/hour BASE pay. Full timers were making $33/hour and up.
See there ya go. Toyota pays wages that of GM.
I work at Delphi. GM will cut their wages, the same way that Delphi did, file bankrupcy and restructure.
Right, but Toyota is far more efficient with their resources and labor. That’s how they can pay people those wages, and still make PROFIT on cars.
Wages are a small part of the problem for GM. They need COMPLETE restructuring.
They’re just a generation behind in the US. They will get to where GM is now by 2050.
While the “message” is strong. It’s a few million dollars in a billion dollar problem.
Not entirely sure about that. It helps to be able to learn from GM’s mistakes. They are both global companies, but Toyota has a far greater advantage of anticipation. They can try to deal with problems BEFORE they happen.
i.e. the press releases last year acknowledging the drop in quality that Toyota vehicles have sustained and already taking steps to improve it BEFORE pissing off most of their customers. They have the money now to keep making money later…
I dislike Rick but the man did take a self imposed cut in his pay by about 50% a couple years ago (I think recently the board brought it back up).
He is a 433 ranked compensated CEO for 2008
http://people.forbes.com/rankings/g-richard-wagoner/36240
Running one of the largest companies.
He also has owned about 350k shares of GM since 2004 and the stock has went for $50+ a share to $2 a share.
Also, CEO’s time is worth more than ours. If a couple grand saves them 6 hours round trip, it really is not really hurting the company.
Plus do you think they want to be “trapped” in a plane with a bunch of Detroit citizens right now?
in case anyone else hasnt done this yet. they’re
i feel better now.
I would think that it would be a good idea to create competition between companies that you own
In the long run we’re better off letting GM go file for bankruptcy. Too many people think bankruptcy means the company ceases to exist, when actually it only truly restructures the company, predominantly at the executive level. (Look at all the airlines that have gone bankrupt and continued their business) Giving GM money now doesn’t make them profitable, it only delays the inevitable while wasting taxpayer money.
Also, if GM were to go out of business, many of those employees would end up going to work for other manufacturers like Ford or Toyota. The factories will be sold from GM to other auto makers, and would actually make the remaining companies stronger because they have less competition and can take the best of the GM workers to add to their company, producing a better product.
^ If GM went down, Ford wouldn’t be far behind. Creditors would immediately call in their debts, and their stock price would go in the crapper.
It’s amazing that people think to compare the airlines to a car company. I mean, if an airline goes bankrupt and folds, all the consumer loses is a ticket worth a couple hundred bucks. If a car buyer’s manufacturer goes bankrupt, he no longer has a warranty for his $20-$40k multi-year investment.
And who’s to say that those factories and workers would be picked up anytime soon by another manufacturer? The big problem is that a major automaker bankruptcy could prolong this downturn and it would be years before American consumption is at the level it was last year - especially since the credit market hasn’t recovered at all. And if demand isn’t there, then why would the other companies pick up excess capacity?
I’d figure that if it is a couple years before demand picks up again, those workers would have had to make their way out of the automotive field entirely, and there’d be no overall benefit to a rival automaker in hiring them as they’d need retraining.
As it stands, Ford’s stock price is at $1.43. And the people behind the Dow are already thinking of delisting GM from it - and NOT replacing it with any other auto manufacturer.
In any case it’ll be a supplier issue - like Circuit City, suppliers will want payment up front for parts rather than float on credit, which would cause an additional complication to making cars.