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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
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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detroit free press article
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Replying to: explorerx4 (Dec 16, 2008 3:21 pm) He makes a point in spite of his being all wet. We should not rebuild New Orleans any more than we should save GM from their inability to build cars people want and make a profit doing so. Rebuilding homes in a floodplain is very much like giving money to the Big 3. A huge waste of resources. |
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Replying to: tlong (Dec 16, 2008 9:08 am) Thats pathetic if you can't name this source. |
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Replying to: dallasdude1 (Dec 16, 2008 4:44 pm)
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Replying to: dallasdude1 (Dec 16, 2008 4:44 pm) fyi I was quoting another poster. |
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Replying to: steve_ (Dec 16, 2008 4:59 pm) Here is a chart on how much money has gone down the jobs bank rat hole. http://mjperry.blogspot.com/2008/12/cost-of-jobs-bank-2005-2008-4200000000.html from steve's article: WAYNE -- Ken Pool is making good money. On weekdays, he shows up at 7 a.m. at Ford Motor Co.'s Michigan Truck Plant in Wayne, signs in, and then starts working -- on a crossword puzzle. Pool hates the monotony, but the pay is good: more than $31 an hour, plus benefits. "We just go in and play crossword puzzles, watch videos that someone brings in or read the newspaper," he says. "Otherwise, I've just sat." Pool is one of more than 12,000 American autoworkers who, instead of installing windshields or bending sheet metal, spend their days counting the hours in a jobs bank set up by Detroit automakers and Delphi Corp. as part of an extraordinary job security agreement with the United Auto Workers union. More lies from Gettlefinger. He claimed that UAW workers topped at $28 while Toyota paid $32. Well unless this guy was lying he was sitting on his duff making $31+ per hour. Then the bigger question is how many guys do they have in these plants that are there just to change a light bulb when it burns out? Just sitting the rest of the day. All because of restrictive job classifications.
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Replying to: gagrice (Dec 16, 2008 12:35 pm) Teachers don't pay into SS, they have their own form of SS. I taught for two years and upon leaving I asked for my money back and got a check. |
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Replying to: gagrice (Dec 16, 2008 12:40 pm) The sub prime mess is a contagion to the whole banking system. Financial stocks are key components to most pension plans, personal stock portfolios, etc. Now because too many sketchy loans were written, especially without a fair amount of owner equity, the vast majority of middle-income earners have to suffer needlessly. As the stock market goes, so do the pension plans. This problem could have been largely avoided if more mortgages were held in house and banks and other financial institutions managed a balanced portfolio of loans. However as mortgages became largely trade-able commodities there became a greater incentive to pass off the "hot potatoes" as quickly as possible so you don't get burned. Little did we know that there were so many "hot potatoes" accumulating at Fannie Mae and Freddie Mac. Oh, by the way, Fannie and Freddie are now traded on the NYSE so they better play the game too.
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Replying to: gagrice (Dec 16, 2008 12:47 pm) Very insightful  - They are! But I guess the funniest (perhaps not to the the employees though) "alternative use" of union labor was by Japan Railways in the early 90s, when they went through a long process of downsizing. They had their employees growing mushrooms in abandoned tunnels (since they had shut down some railway lines too). |
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Replying to: dallasdude1 (Dec 16, 2008 5:22 pm) Wait for it - it's still early. Two U.S. pension funds see $52 mln hit from Madoff (Reuters) More from the left press: Bail Out the Auto Industry? Why Not Take Over Their Health Care Instead? (Alternet) |
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