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Automotive News & Views United Automobile Workers of America (UAW)
16701 messages, Last post on Nov 20, 2009 at 3:39 AM
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Replying to: gagrice (Dec 28, 2008 6:10 am) I'm surprised that Goldfinger didn't offer to mortgage the golf resort to help out the automakers. After all, that loan money is very critical to the D3. Everybody should sacrifice, right?
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Replying to: 04cad (Dec 28, 2008 9:01 am) Show me the statistics where a *majority* of college graduates are not finding work.
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Replying to: tlong (Dec 28, 2008 9:33 am) A good friend of mine was here over the holidays. He was a VP at a major bank. He has has to lay off 16 people under him. The price at the pump has also discouraged the energy companies. There is going to be competition for fewer positions by experienced layed off workers and those coming out of college. http://media.www.thelamron.com/media/storage/paper1150/news/2008/12/04/News/Rece- nt.Graduates.Run.Against.Struggling.Economy.Job.Market-3569858.shtml That's the weakest outlook in six years and reflects a sharp recent downturn. Just two months ago, a survey by the same group projected a 6.1% increase in hiring. The August survey included 219 employers, 146 of whom responded to the new survey, conducted earlier this month. The big drop in hiring projections is "extremely unusual," says Edwin Koc, the association's director of strategic research. http://finance.yahoo.com/college-education/article/106007/For-'09-Grads,-Job-Prospects-Take-a-Dive
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Replying to: tlong (Dec 28, 2008 9:28 am) Like for non-ordinary people like AIG management, the state is now giving them so much. A tax payer bailout of AIG is surely necessary, but it has been justified so that ordinary people suffer less, not management. Its insulting that you would look to the poor for more welfare for the wealthy. The bailout to AIG, etal, is a farce and an insult to every hard working American whose job may be in jeopardy, not to mention the millions of Americans whose assets and savings built over many years is being vaporized day by day. The perpetrators of the largest fraud in recorded history should be held accountable by the courts through indictments of misfeasance, malfeasance, and outright theft. And where is the Congress, many of whom are complicit in the meltdown of our economy? Obviously our elected representatives lack the courage to deal with the almost total destruction of millions of lives and property. And yet the talk is merely the elimination of bonuses and/or salary increases. How many billions of dollars have been filched by greedy executives and boards of directors in the form of obscene salaries, bonuses, stock options and other creative forms of payout? The American public has been and continues to be raped and pillaged by greed. Will it never end?
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Replying to: 04cad (Dec 28, 2008 9:01 am) Sorry, but I don't buy that. The 1930 Smoot-Hawley Tariff Act, which sharply increased tariffs here & which prompted our trading partners to retaliate by increasing their tariffs, lengthened & deepened the Great Depression & may have been one of the causes of WWII. Protectionism violates the oldest rule of the marketplace: the customer is always right. Instead, it punishes the customer by raising prices & reducing choice. It leads to mediocrity. I'm confident that American automakers can produce exciting products that customers want to buy at prices they're willing to pay, but first they (certainly GM) must go through bankruptcy reorganization. That will give new leadership the chance to rebuild the business & shed excessive costs. Without bankruptcy, there can be no rebirth.
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Replying to: dallasdude1 (Dec 27, 2008 10:28 pm) Take out the worthless stock options and look at what he actually got and will only get for 2007 it comes out to under $2 million. Still a lot of money but a bit less than $14 million. Of course if the stock goes up to $100 he will be sitting pretty.
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Replying to: dallasdude1 (Dec 28, 2008 9:47 am)
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Replying to: dallasdude1 (Dec 28, 2008 10:10 am) Because of a suggestion that the UAW mortgage their resort to help the D3 somehow now that's having the poor subsidize the wealthy? What a stretch. Calm down, that's not what I said and was not the intent of the post. The bailout to AIG, etal, is a farce and an insult to every hard working American whose job may be in jeopardy, not to mention the millions of Americans whose assets and savings built over many years is being vaporized day by day. The perpetrators of the largest fraud in recorded history should be held accountable by the courts through indictments of misfeasance, malfeasance, and outright theft. And where is the Congress, many of whom are complicit in the meltdown of our economy? Obviously our elected representatives lack the courage to deal with the almost total destruction of millions of lives and property. And yet the talk is merely the elimination of bonuses and/or salary increases. How many billions of dollars have been filched by greedy executives and boards of directors in the form of obscene salaries, bonuses, stock options and other creative forms of payout? The American public has been and continues to be raped and pillaged by greed. Will it never end? No argument there. Glad we agree that all bailouts are an insult. One point of view would argue that while the financial sector is the *grease* that lubricates our entire economy, other companies such as the D3 are just various sectors that are less fundamental to the economy operating. Circuit City, Mervyn's, Linen's N Things, even GM can go bankrupt -- but the grease is still needed for the ENTIRE economy to run. Not sure I believe the argument but it's not apples to apples with the D3.
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Replying to: 62vetteefp (Dec 28, 2008 11:21 am) Not sure how the other compensation is arrived at, but this article from March would indicate well over $2M even without the stock options. Would like to see the details on that. Note that in 2007 GM had a record $39B loss. DETROIT (Reuters) - General Motors Corp (GM.N) Chief Executive Rick Wagoner's salary and other compensation rose 64 percent in 2007 to about $15.7 million, mainly due to option grants, according to a proxy filed on Friday. The GM compensation committee cited significant progress over the past few years in reducing the automaker's health care cost burden, increasing growth internationally and improvements in its cars and trucks in the 2007 awards to executives. Wagoner's compensation rose from about $9.57 million in 2006. The figure was arrived at based on Wagoner's salary, all other compensation and the basis of annual grants. GM paid Wagoner a salary of $1.6 million in 2007, along with $1.8 million in non-equity incentive compensation and nearly $700,000 for other compensation that includes insurance benefits, security, aircraft expenses and other factors. GM, which reported a record $39 billion net loss in 2007, released the figures in a proxy statement on Friday afternoon that was filed with the U.S. Securities and Exchange Commission.Take out the worthless stock options and look at what he actually got and will only get for 2007 it comes out to under $2 million. Take out the worthless stock options and look at what he actually got and will only get for 2007 it comes out to under $2 million.
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deal, dallasdude. My take is one of 20 years of experience in Tech.Illustration at The Boeing Company in Everett, WA. I worked on the 747 and 767 widebody jetliners. Mr.Boeing(actually just a bunch of grey-suited dorks who short-sightedly decided that laying off 40,000+ people had to be done, talk about investing in your best resources, your workers)laid many of us off. I re-trained in the Allied Healthcare field. It has not been an easy road but it is going great for my wife and I now. She is working as a Cook at the same small hospital I work as a Certified Respiratory Therapist. Simple point to make: there is always a need for Respiratory Therapists and Nurses. The older RT's and Nurses are always retiring. It is good work, inside and usually clean(the pt.'s can let out some obnoxious smells and liquids that I won't spill out at this time)and full-time hours are there. You do have tests upon tests to pass and then state and national certification. Continuing education is always a requirement, too. But there are some fine schools out there and, what I'd like someone reading in here to comment on, there's usually Fed.monies to loan out to people to get this training. The system needs more workers and if there is a will there is a way to get re-trained. These types of college grads will find work out there, nationally. Wherever they want to go. This is not a field that is tied to the Puget Sound area. There's work on the beautiful Olympic Peninsula of Washington state. There's work all over Michigan! There's work all over Florida! Idaho! Montana! Wyoming! Go get it! Gary Payton is my pick alongside Michael Jordan as the two best guards in NBA hx. The '96 Finals went to da Bulls, because of Michael. But GP, with his doggedly persistent defense+a dynamite talent for picking up steals(hence his nickname 'The Glove')and constantly driving successfully to the hoop(and hitting beautiful long jumpers)has me put Gary at the Top, with MJ. Enjoy your NBA season and a bucketful of great NFL games today, for that matter.
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