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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
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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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Replying to: cooterbfd (Nov 27, 2008 7:59 am)
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Replying to: chikoo (Nov 27, 2008 8:16 am) Wouldn't you consider that good business sense? My son in law was moved from San Diego to Indiana. They gave him a small raise. His cost of living is about half of what it was here in San Diego. So he is starting to get ahead after 6 months. Where they were always struggling here to make ends meet. The company has much lower cost of doing business. So everyone is happy. Maybe if GM would have closed every old outdated plant when the UAW struck them, they would not be crying for US to give them money. I have NO sympathy for the ignorance at GM over the last 30+ years. Toyota and Honda have given them a close up picture of how to run a successful business and they continued to do it their way. Well let them get out of this mess Their way...
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Replying to: gagrice (Nov 27, 2008 5:32 am) Exactly! I think we've already determined that. The UAW total compensation package what's killing them. Not the hourly wage. Have you seen what the Postal Service workers make? Try walking in their shoes some day. I'm not for bailing out GM and the UAW but their business practices need major overhaul. And I also agree with capping the CEO's pay/ it's obscene what some of these guys make for running companies to the ground. Where do I sign up for one of them jobs?
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