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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
Anyone else have an opinion on whether Uncle Sam should loan some dough to the Big 3?
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Replying to: steve_ (Nov 26, 2008 10:22 pm)  Regards, OW |
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Replying to: rogeliov (Nov 26, 2008 10:13 pm) Why don't you try hanging sheetrock or installing roofing all day in 100 degree heat. Those guys are lucky to get $12 to $15 per hour with the foreman maxing out at $20. That is where housing costs are high. Workers deserve what the market will pay for a given job. I worked construction as a teenager in High School on weekends and evenings. I never got over minimum wage $1.25 per hour. Same as the guy pumping gas or bagging groceries. That included plumbing, electrical and carpentry. I am glad for the experience. I also could see where the job was going and went to work at the phone company when I graduated. You have an awfully high regard for assembly line work. That is the reason so much of it has gone overseas. I think there are people all over the world that would be more than happy to install lug nuts for a heck of a lot less than the $15 starting pay in Detroit. Bailing GM and the UAW out of featherbedding contracts is not going to happen. There needs to be some reality checks on all sides of the GM equation. I am also for sub million dollar caps on executive pay.
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Replying to: steve_ (Nov 26, 2008 10:22 pm) I see the Citi bailout is getting bad press with the NY public: link title I think some of the US public has figured out the first bailout that congress ended up playing games with to enlarge after two weeks since it was an emergency that had to be done TODAY is really a boon to the financial industry buddies. |
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Replying to: gagrice (Nov 26, 2008 8:23 pm) Well, it does become relevant in some ways. While the insurance industry is different from the auto, when a disaster happens like Katrina or the 1989 SF/ OAK earthquake, or the yearly wildfires and mudslides in CA, insurance companies will pay to rebuild and FEMA will give grants to rebuild in the same place, even though it is known that these disasters will happen again. Then, up here in RI, where we have had 2 minor hurricanes in the last 40 years no major tornadoes, no earthquakes, no disasters, a company like MetLife stops selling homeowners insurance here because they see an elevated risk. That DOES impact me, as it is one less choice I have, and other companies can use that as leverage to raise rates. My HI has gone up over 20% since Katrina. Why?? So somebody can rebuild their house in tornado alley, only to have it ripped down in 5 years by another????
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Replying to: cooterbfd (Nov 26, 2008 5:35 pm) Very simple. Worker A and B have no control, the consumer decides. Worker A can either work 2X faster, have 2X better quality, or just convince the market their product is worth their extra pay. It would be a nice world if everyone could decide what they will accept.
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Replying to: cooterbfd (Nov 27, 2008 7:59 am) If the people of AL can build a car for $15K that is the same as the car built in Detroit at $18K, then the people of Detroit better either lower their expectations, or find something else to do. |
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Replying to: cooterbfd (Nov 26, 2008 5:35 pm) This reeks of Socialism.......I have seen and experienced it myself. In fact I have gotten higher wages because I worked in a Metro, doing the same job for the same company that worker B did doing it in a small town with lower living expenses. It felt good. Gave me an incentive to not move away from the Metro, and in other cases, gave an incentive to the guy B to move to the metro. A pay raise for doing nothing more. But that is the small picture. The big picture is that it raised the corporate expense. Following which, the company relocated it's metro operations to the small town!!!!
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Replying to: steve_ (Nov 26, 2008 10:22 pm)
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Replying to: cooterbfd (Nov 27, 2008 7:59 am) |
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