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Automotive News & Views United Automobile Workers of America (UAW)
16735 messages, Last post on Dec 03, 2009 at 5:49 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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this conversation is taking me back to 2003-2005 in Missouri. My wife and I and our animals moved there(Rolla)in order for me to get my re-training. In a city called St.Louis we loved to go see a rock band we discovered there. They're called the Drive-By Truckers, we first saw them in the spring of 2004 at Mississippi Nights, a great rock venue right on the banks of the mighty Mississippi River. My wife and I and our son attended that show. Then in the winter of 2004 my wife and I went and saw them at another venue. After the show I was tired but didn't want to get a motel there in St.Louis. Rolla is about 125 miles or so west from St.Louis and I felt I could make the drive. As I started making it away from the venue we noticed some really bad looking buildings. Oh, man, that city has this thing going where you see a good building then there is one with bricks fallen down inside and outside of it and everything. This pattern repeats itself again and again. That was in late 2004. It was a snapshot of what St.Louis has looked like for a long time. St.Louis may have looked it's best back in the 20's or 30's I think. This current conversation about the Depression has popped my mind in to thinking of that night after the show. Depression has been with us already for a long, long time. Only now it's starting to affect people who never thought they'd live through this type of thing. |
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Just caught the tail end of a story on CNN that said Chrysler workers get $75 per hour while Toyota workers get only $48 per hour. I assume the Chrysler workers are UAW and the Toyota guys are non-union. Of course those can't be actual per hour pay figures. That has to include benefits and pensions too, right? No matter how they are figuring the pay, the domestic companies are getting killed by that differential. 
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Replying to: oldfarmer50 (Nov 13, 2008 3:58 pm) |
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Replying to: oldfarmer50 (Nov 13, 2008 3:58 pm) Yeah, I'm sure it includes not only wages, but also health insurance, life insurance, vacation, the portion of SS and Medicare that they pay for, and so on. I've heard that in many cases, your wages only make up something like 55-60% of your "total compensation". And yeah you're right, that's an awfully big differential. If true, the Chrysler workers are getting over 50% more than the Toyota workers! |
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Replying to: spirit6100 (Nov 13, 2008 1:54 pm) So why are they declining if their product is so good? Auto mag writers bought out by Japan? Everyone in the US that buys something other than big three is a commie idiot? Consumers are morons in general?
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Replying to: dhamilton (Nov 13, 2008 4:08 pm)
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Replying to: sixfive (Nov 13, 2008 6:59 am) To put it in simple terms. Your $100 investment is worth $50 now. 8% of $100 was $8 and 8% of $50 is $4. Cook the books all you want but thats a loser. I can only agree that this is a great time to buy a home and or car. Buffet seems to think that cash is king also, and has managed to get himself great terms from these capital hungry industries. Your assumption is that the original principal will be back at some future date. It ignores the preservation of capital as a goal. Then remember the rule of 72, divide the rate of return into 72 and you more or less get the years it takes to double your money. IF she were your client she'd be in the street with that 2% You fail to factor in the 4 years in a row I weighted the energy services, energy, natural resources, and natural gas. Each year was worth 40% or more. Diversification is for the ignorant. So granny would be better off heeding the advice of someone knowledgeable in money management. True I did miss out on the real estate boom, other than my residences, which I sold and awaited for the opportune moment. I rented for three years. My feelings were that most of the baby boomer's had homes by this day in time. I saw no logic in the mania and or reason for a housing boom. Other than the normal run of the mill creation of new households, there was no economic reasoning whatsoever for the housing bubble. Oops, I almost forgot, I missed out on gold too. Again, I'm not too keen on uneducated guessing. Only on reasonable and sane rationalizing. it's not ethical to time the market I disagree and consider the market nothing but a betting pool. Much like Vegas. I'm seeing many correlations to Japan in this present down cycle. If anything I've seem many more unethical things in the Wall Street rumor mill which require SEC enforcement of present regulations. |
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Replying to: dtownfb (Nov 13, 2008 5:14 pm) Regards, OW |
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Replying to: steve_ (Nov 13, 2008 7:48 am) Unfortunately thats going to happen and or has a more than reasonable chance of occurring. Didn't Circuit City get rid of their older (better paid employees) and replace them with cheaper new hires? If so, that tactic didn't save them from their present condition and no one can blame a UAW/union workforce for Circuit City's woes.
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Replying to: dallasdude1 (Nov 13, 2008 6:48 pm) That proves nothing because the auto union will go away soon...or at least be a lame duck organization. Regards, OW
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