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United Automobile Workers of America (UAW)

16738 messages,  Last post on Dec 03, 2009 at 10:07 AM

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#6450 of 16738
Re: What baffles me is [gagrice] by dallasdude1
Dec 17, 2008 (6:46 pm)
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Replying to: gagrice (Dec 17, 2008 6:01 am)

Companies like to plan and the market conditions determine if these pension funds are over or under funded. They are just moving to greater match on the 401K. Which is fine by me. I can do better than most money managers. Fact is that many more money managers have failed to beat the S&P. Its not the cost, but rather market conditions which puts a stress during down markets.
 
Health spending accounts are also going to be popular for this next generation.
 
Municipals bonds are for the super rich, since they pay poorly, but are exempt from taxation.
#6451 of 16738
Re: spin cycle [grbeck] by dallasdude1
Dec 17, 2008 (6:54 pm)
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Replying to: grbeck (Dec 17, 2008 6:46 am)

Having talked to former plant supervisors from GM
 
RIGHT
 
AP Online
08-31-1999
Former GM Supervisors Charged
 
FLINT, Mich. (AP) -- Three former General Motors supervisors were charged with scheming to get more than $2 million in kickbacks and gifts from companies that did business with the automaker.
 
Investigators said the suspects, who no longer work for GM, told suppliers to raise prices on goods and services and submit fake bills. The suppliers were then paid by GM and kick backed a payment to the three suspects.
 
The vendors also gave the supervisors gifts such as trips to Las Vegas, motorcycles and a tanning salon membership to keep GM business, investigators told The Flint Journal.
#6452 of 16738
Re: Perceptions of Detroit Are Miles From Reality [gagrice] by cooterbfd
Dec 17, 2008 (6:59 pm)
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Replying to: gagrice (Dec 17, 2008 8:25 am)

"....We have more tariffs on Imported vehicles than Japan."
 
While that may be true, I thought the Japanese did other things like mandatory inspections of the imports, then drag their feet inspecting them, to discourage their importation.
#6453 of 16738
Re: Perceptions of Detroit Are Miles From Reality [cooterbfd] by imidazol97
Dec 17, 2008 (7:07 pm)
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Replying to: cooterbfd (Dec 17, 2008 6:59 pm)

On one radio source they said Korean automaker can import 500,000 cars here but we can only send either 2500 or 5000 into Korea. Sounds like fair trade to ME.
#6454 of 16738
Re: Perceptions of Detroit Are Miles From Reality [cooterbfd] by dallasdude1
Dec 17, 2008 (7:26 pm)
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Replying to: cooterbfd (Dec 17, 2008 4:22 pm)

There are currently pay differences even between the U.S. auto plants owned by Toyota. Toyota workers in Georgetown, Kentucky, earn $27-$30 an hour, similar to the hourly wages of UAW workers in Michigan.
 
But vexed by the rise of lower-wage competitors, including Hyundai Motor in Montgomery, Alabama, and Nissan Motor in Canton, Mississippi, Toyota has been on a campaign to establish new plants that can pay lower hourly rates than its more-established U.S. plants.
 
Starting wages for workers at Toyota's San Antonio Tundra pickup plant, which opened in 2006, began at $15.50 an hour and are scheduled to grow to $21 an hour in 2009. And assembly workers at the company's planned Prius factory near Tupelo, Mississippi, are expected to earn $20 an hour when it opens in 2010. Yet Toyota's Corolla-Tacoma plant in Fremont, California, is a UAW-represented joint-venture with General Motors that pays national UAW rates.

 
http://www.autonews.com/article/20081212/COPY/312129865/1197
#6455 of 16738
Re: Perceptions of Detroit Are Miles From Reality [gagrice] by cooterbfd
Dec 17, 2008 (7:27 pm)
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Replying to: gagrice (Dec 17, 2008 3:45 pm)

".... GM lost $38 billion last year when 16.9 million vehicles were sold."
 
I'm looking at their income statement, and it appears that $36 billion was in accounting charges.
 
It doesn't add up to me, but they show a loss of about $4.4 billion, and paying $37.2 billion in income taxes.
#6456 of 16738
Re: What baffles me is [dallasdude1] by dieselone
Dec 17, 2008 (7:37 pm)
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Replying to: dallasdude1 (Dec 17, 2008 6:46 pm)

I can do better than most money managers. Fact is that many more money managers have failed to beat the S&P
 
No doubt there. I completely avoid actively managed funds. Seems few beat the S&P like you mentioned (particularly when your limited in your choices in most 401k and 529 accounts), not to mention the higher management fees charged to get substandard returns. No thanks.
 
Health spending accounts/flexible spending accounts are a very nice benefit. Granted the higher your tax bracket, the more you benefit. We've used a health spending account for the past 8 years and with young kids etc, it's nice to use pretax money to pay for out of pocket medical expenses etc.
#6457 of 16738
Re: Perceptions of Detroit Are Miles From Reality [rockylee] by chikoo
Dec 17, 2008 (8:23 pm)
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Replying to: rockylee (Dec 17, 2008 2:04 pm)

>if I made $15 million last year and tens of millions in prior years when trucks were selling well hell I could afford to work for peanuts because working for peanuts now when you have $ 50+ million in the bank like most of these executives have
 
Richer people have bigger expenses....There are enough examples of rich people going bankrupt.
 
That said, I am not pardoning them CEOs. They did get paid more than they were worth imo.
#6458 of 16738
Re: Perceptions of Detroit Are Miles From Reality [cooterbfd] by gagrice
Dec 17, 2008 (8:45 pm)
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Replying to: cooterbfd (Dec 17, 2008 6:59 pm)

I thought the Japanese did other things like mandatory inspections of the imports, then drag their feet inspecting them, to discourage their importation.
 
No country does that with more regulations than the EPA. Bill Gates waited something like 2 years to get a Porsche he bought through the EPA red tape. Most cars cannot be sold here for one reason or another. We probably have the most protectionist government on the face of the planet. Japan's emissions are not as stiff as ours.
#6459 of 16738
Re: Perceptions of Detroit Are Miles From Reality [cooterbfd] by gagrice
Dec 17, 2008 (8:53 pm)
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Replying to: cooterbfd (Dec 17, 2008 7:27 pm)

For all of 2007, GM posted a loss of $38.7 billion, the biggest ever for an automaker. The loss, equal to $68.45 a share, is about the same amount as a noncash charge of $38.3 billion that the company took in the third quarter to write down deferred tax assets, meaning that GM almost broke even otherwise, after losing $2 billion in 2006.
 
http://www.iht.com/articles/2008/02/12/business/gm.php
 
If they are lying I say throw Wagoner and his bunch of losers in jail. Toss Gettlefinger in with them. I am sure he is a big fat liar as well.

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