GM Facts and Fiction

[10/10_RS/Z28]

We as americans are going to have to swallow a tough pill soon. We can't "socialize" I mean save everybody. If they keep bailing everybody out a loaf of bread is going to cost $20 bucks soon. Let them go government backed ch. 11 and eliminate the union, the crazy $80 dollar average hourly wage, the $105,000 to eliminate somebody, the not being able to fire or layoff people, and the crazy retirement these goons are paying. Its time to get real people! I had a neighbor that worked for Ford and he would brag on how lazy his day was and how much he got paid. He said they read magazines and played cards while they would simply move parts around. I work to hard for my money to go to losers like that. See ya UAW, GM, Chrysler, & Ford!!!!

[Late BrakeU2]

And here ya have it " I'm o.k. with where i am"

If these guy's were on the Titanic they would be pushing women and children off the lifeboats-sure ain't Lee Iacoca!
(and in japan they would have already commited suicide for their disgrace)

11/19/08

The chief executives of General Motors Corp. (GM) and Ford Motor Co. (F) said Wednesday they wouldn't accept a $1 salary in exchange for government aid to their imperiled companies, as the head of the former Chrysler Corp. did a generation ago. During a hearing Wednesday, a member of the House Financial Services Committee told Rick Wagoner of GM and Alan Mulally of Ford that reducing their annual salaries to $1 would be an important symbolic gesture as they lobby for $25 billion in loans funded by tax dollars. Chrysler's Lee Iacocca worked for that wage when his company was bailed out by the government in the 1980s. "I'm willing to do what I've been doing," Wagoner said, saying he has already accepted a significant wage decrease and given up other forms of compensation. But he stopped short of saying he would accept a $1 salary. Mulally said: "I understand your point about the symbol. But I think, not just for me, but we're trying to fill a skilled and motivated team." Pressed on whether he would work for $1 a year, Mulally said, "I think I'm OK where I am." The chief executive of Chrysler LLC, Robert Nardelli, had said Tuesday he would be willing to work under that salary as a condition for a federal bailout package.

[1969l78]

Robert Nardelli can manage on $1 a year. I think he got $200 million when he left Home depot. Then they all flew to washington on there private jets. How much did that cost there companies. Fly coach on a normal airline to save thousands. These guys do not get it, I will not shed a tear if they go under. They did it to themselves, just my .02

[1969z280]

Nardelli is a jerk who destroyed Home Depot. They used to be my largest client and had one of the most successful management teams in history. First to $500 Million, First to $1 Billion, etc. He dismantled the entire team (fired them) and brought in his own people, then drove the ship into the ground and left to take his new position at what was left of Chrysler. He's not a car guy and I don't know how he keeps landing on his feet instead of his a$$. His wallet must be too big to fall backwards. Just my $.02

[Salvatore]

Yes, you are right, something has to be done. A Union overhaul AFTER a management overhaul is a good thing! Everybody has to be accounted for. Its like saying every doctor is taking advantage of the system and every school teacher is doing the same. 10/10 RSZ do you think they (UAW Workers) get $80.00 an hour in the envelope for a 40 hour work week? I don't think so I believe its there whole package. Pensions and benefits were set up years and years ago when times were good. Why pay Union dues if there was not going to be a better way of life coming from your membership? They may now have to take a slight reduction in some benefits but its not the workers fault that their pensions were good for the last 25 years and now because of the economy they should not receive their check. The investments their pensions were in is the culprit. If Wall Street, Corporate greed and unfair trade practices were not prevelant we would not be talking about this. There are many Union workers that make $10-$12.00 an hour in this country. Not all make what you think they make because they are in the Union. Sam

[GREEN4SPDSS]

Thanks Sam I agree....Where I work is union. New hires get around 14 a hr and less healthcare. They are Slowly taking more and more away every contract. I was on Strike Last year. They treated us Like criminals.....Because we are Union.

[TDW]

The UAW members have been paying into their own pension plan forever. That should not be taken away from them. I just don't think it's right to blame all of this on the workers. I live in Flint Michigan, birthplace of the UAW. Some of the workers have done NOTHING for years. I have said for years that GM needs to close the doors, lock them and start over. Tell the workers if you want a job, you will come to work every day, do an honest 8 hours work for 8 hours pay. No playing cards, sleeping, hanging out at the local tavern, no going home after 4 hours and having someone else punch you out, no doubleing up on jobs to get done in 2 hours, and lots more. I have worked in some of the Plants as an outside contractor. The waste of time and materials is astounding. When they did a changeover at the Truck Plant, there were BOXCARS of brand new materials thrown away. I saw it with my own eyes. Millions of dollars worth thrown away. Management told them to get rid of it. Some of the Supervisors could not operate a lemaonade stand. A complete restructure is needed. And them spending a million or so a year to pay for Viagra is just flat out rediculous.

[10/10_RS/Z28]

SLIGHT REDUCTION!!!! PLEASE! They want your money to fund one of the worst business plans in the history of man. A freakin monkey could see this is a recipe for disaster. The senators pointed out that they ALL are profitable in all of the other countries that they sell in but the United States. The union is the problem not part of the solution!!! It must be disbanded for there to be any progress or we are pi$$ing good money after bad. That s.o.b. UAW guy should be strung up along with those other three. If they want tax payer $$$ anything on the books (anything) prior to when they get funds is up for renegotiation and or termination. that is the way it should be. Take what is offered or face the music of having nothing. Major overhaul and complete restructuring is the only way, because this is just the beginning. Start giving them money and they will be back again and again. Those senators know that and stated it over and over. I never heard how they anticipated paying it back either. Remember it is a loan not free. Yeah right!!!!!

[JRSully]

One of my brother's (pilot at USAIR) got HAMMERED when they went bankrupt. Before Bankruptcy: Salary - around $250-260k, nice pension set up, worked (flew) about 75 hrs/month, retire at 60 AFTER Bankruptcy: making about half of the old salary, THEY COMPLETLY WIPED OUT HIS PENSION (it was way underfunded by the way)replaced it with a piece of garbage retiremint plan that MIGHT be 1/3 of what he would have had when he is ready to retire and now working 90 hrs/month. Pissed off, off course he is, BUT he has adjusted to the cards that were delt him and living with it. His union became totally useless and is still rather useless to this day. He realizes there really is no other work out there in his field to get him back to that money and always thought he was probably paid too much money back then. If the big 3 do not bring labor to at least the same as the counterparts in the South, no amount of money will fix it. The age of "entitlements" is over in organized labor. JMHO

[WILMASBOYL78]

Well....I make my living off the car business, such as it is and these are difficult times!! Today I was at a Saturn client and saw the people in the waiting lounge watching the Congressional Bail Out Show on TV Dealer and consumer confidence is the lowest that I have ever seen....and it will get worse before it gets better.

By the way...where can I sign up for some of this government bail out money