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Automotive News & Views United Automobile Workers of America (UAW)
16738 messages, Last post on Dec 03, 2009 at 10:07 AM
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Replying to: 62vetteefp (Dec 16, 2008 4:15 am) It would take more than a few Southern Senators to stop the bailout. There are at least 41 Senators that are against it or it would pass. There is resistance to bailing GM out without concessions with a time frame by the UAW. Everything is in the future. Well the future for GM is NOW. I just read somewhere that at least 12,000 workers were still being paid in the jobs bank. When does it end forever? When will all the retirees start paying their own health care? Gettlefinger and the UAW gave nothing in those hearings. Only open ended promises with nothing solid that will help cure the ills at GM. If GM does not have the money to pay into the VEBA. That will be one of the debts that get looked at under a C11 bankruptcy. Along with the other $66 billion they currently owe some entity.
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Replying to: 62vetteefp (Dec 16, 2008 5:57 am) However, what does that leave for GM to do, if they've already cut labor costs like that? What's the answer? This is even more depressing than I thought.
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Replying to: lokki (Dec 16, 2008 7:23 am) What they all can do though is hunker down and try and ride it out. Look for more plant closings and layoffs in both hourly and salarieds. The UAW will have to look at letting more go w/o huge buy outs from their companies and look for health care interruptions at the UAW. GM has been heavily cutting cost for 6 years in all areas. 80% of the reported losses were due to this restructuring. It will continue. |
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Replying to: duke23 (Dec 15, 2008 9:57 pm) 
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Replying to: marsha7 (Dec 15, 2008 6:35 pm) 
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Replying to: snookered (Dec 16, 2008 8:44 am) Not sure what you are talking about. Who did not pay into Social Security and not have Medicare? What is SSD and SSI? All GM salaried's current and future retirees have lost their health care as of 65. The hourly could do the same thing? I am not that familiar with the medicare but I do know that the retirees are buying some other kind of insurance to increase coverage over the Medicare OK I looked up SSI and SSD. SSI is for those who did not work enough to get SS benefits for disabilities before you reach the age of 65. SSD is for those who did work long enough to full disability benefits. Not sure how this plays into GM workforce. I know I paid into SS for my entire life. http://marthachurchill.com/ssissd.htm
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Replying to: gagrice (Dec 16, 2008 7:05 am) Well, 12,000 employees at, let's say, $50K/year would be $600mill/year (did I get that right?). There's some cash flow.
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Replying to: tlong (Dec 16, 2008 9:08 am) It's interesting that the foreign automakers in the US (Toyota anyway) aren't laying permanent people off or putting them into a "jobs bank." They are paying employees full salary and shifting them to other work at the factory, from maintenance and cleaning to yard work. That costs Toyota 5% more than putting someone in a UAW Jobs Bank at 95% of their salary. Of course, if you are a temp at Toyota, then it's sayonara. |
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Replying to: 62vetteefp (Dec 16, 2008 8:59 am) After all, pensions are heavily invested in the stock market.
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Replying to: snookered (Dec 16, 2008 9:56 am)
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