GM Does It Again.....

Not snowing here, loading the boat for a four day trip to Jacksonville.............Gotta meet up w/some of my Union Bud's up there!!:lol:
 
jason78 said:
I did an edit and posted the article while you were commenting. I guess it is either build cars for less pay or sit around in those UAW "Rubber Rooms" all day getting paid to "train" for new jobs; if you want to call it that.
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The GM jobs bank was eliminated in February 2009.
 
autovette said:
Mike,

When will you learn, these brain washed union goons willl never get it. Listening to some of these guys, you would think the National Anthem should be changed to "Look for the Union Lable" !!
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Hey, I like that, has a nice ring to it, but I think it's spelled Label................:grin::smt043
 
MonacoMike said:
Actually I stand corrected, Obama and his union buddies are the majority, 77%, owners and thus the "Big Cats" in the case of GM. MM

http://www.factcheck.org/2010/05/general-motors-debt/

http://www.theatlantic.com/business/archive/2010/04/gm-pays-back-all-its-government-debt/39300/

http://www.nytimes.com/2009/06/02/business/02uaw.html
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Nice research work.

The newest article is 20 months old and predates the GM IPO by app. 6 months.

Although "government motors" is a nice talking point, the slur is no longer supported by fact. We can debate the merits of the "bailouts" (a worthy topic in its own right) in a different thread.
 
I am test driving a Ford Edge Limited this week. A friend owns a dealership and this is his demo car that has basically every option. Very nice car so far.
 
susanandlance said:
Not snowing here, loading the boat for a four day trip to Jacksonville.............Gotta meet up w/some of my Union Bud's up there!!:lol:
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Have fun! Sounds like a great time!!

MonacoMike said:
OH!!! That hurts!!! ...And I thought of you as a friend:) MM
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Aw, come on MM, not like I was able to acually go out. :smt001 It was too windy to go out so I just sat in the cockpit with the heater on watching TV and let the kids fish. I do wish we would get some snow here. If not the bugs are going to be bad this year. Supposedly you guys are sending us some cold weather though.

Great lakes pirate said:
The GM jobs bank was eliminated in February 2009.
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Glad to hear that. I guess it was take a pay cut or not work then if the rubber rooms are closed. I do applaud them for choosing to work though. Considering I have seen what assembly line workers generally do on a day to day basis, I think the average pay they are getting of $30K per year is alot more in line than $60K they supposedly had before, according to the article. There are certainly more complex jobs in the plant and those should be making more. I do admit it would be very hard to take a 50% pay cut, no matter the reason. If they can get GM back to the #1 spot, I am sure there will be growth opportunities do training and move in to some of the more complex jobs, or management to increase their salary, if that is a direction they choose. There are always going to be people that are not able or not willing to advance in a job, for them it will be the toughest. All and all, I think we can all agree that if a Union is going to be involved, it is always best for everyone if the Company, Union and Workers can get along.
 
comsnark said:
Nice research work.

The newest article is 20 months old and predates the GM IPO by app. 6 months.

Although "government motors" is a nice talking point, the slur is no longer supported by fact. We can debate the merits of the "bailouts" (a worthy topic in its own right) in a different thread.
Click to expand...

OK, I'll post a more current article from liberal mouthpeice NYT: "The drop has delayed the government’s plans to sell the 500 million G.M. shares it still owns, allowing the perceived shadow of public ownership to linger over the company as executives work to make progress in its turnaround."

So "the slur" is still a valid point.

We agree on the merits bailouts most likley: they suck. If not make a post and I'll be by. MM

http://topics.nytimes.com/top/news/business/companies/general_motors_corporation/index.html
 
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jason78 said:
Aw, come on MM, not like I was able to acually go out. :smt001 It was too windy to go out so I just sat in the cockpit with the heater on watching TV and let the kids fish. I do wish we would get some snow here. If not the bugs are going to be bad this year. Supposedly you guys are sending us some cold weather though.
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Wish you could have had a nicer day out. Heck, that is all a lot of "boaters" do all summer. :smt043
 
MonacoMike said:
OK, I'll post a more current article from liberal mouthpeice NYT: "The drop has delayed the government’s plans to sell the 500 million G.M. shares it still owns, allowing the perceived shadow of public ownership to linger over the company as executives work to make progress in its turnaround."

So "the slur" is still a valid point.

We agree on the merits bailouts most likley: they suck. If not make a post and I'll be by. MM
http://topics.nytimes.com/top/news/business/companies/general_motors_corporation/index.html
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Mike, my friend, you need to step up your game! "perceived shadow of public ownership" is a far cry from central planning. 25% share holding does not ownership make. More telling would be the composition of the board.

Your point is unproven and your slur is still a slur!

The fact that the treasury has any ownership has more to do with not being able to sell the shares at a reasonable price; which speaks to different issues.

I suspect are views on bailouts are similar. We have discussed this in the past. To admit, salvaging companies that BUILD things was far more worthwhile (and cheaper) than propping up a few banks.
 
comsnark said:
Mike, my friend, you need to step up your game! "perceived shadow of public ownership" is a far cry from central planning. 25% share holding does not ownership make. More telling would be the composition of the board.

Your point is unproven and your slur is still a slur!

The fact that the treasury has any ownership has more to do with not being able to sell the shares at a reasonable price; which speaks to different issues.

I suspect are views on bailouts are similar. We have discussed this in the past. To admit, salvaging companies that BUILD things was far more worthwhile (and cheaper) than propping up a few banks.
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I do believe it IS central planning with the most leverage on GM and Chrysler. The first piece is CAFE standard which the "central planning" done by the government bureaucrats instead of the consumer, the second is the 27% the government controls in GM. No other entity has as much control as the government in this stake. How much say would I have if I was the largest shareholder and told you what to build by fiat? MM

p.s. they continue to get more involved in alaspectsts of our lives from light bulbs to outboards. Crony Capitalism is what it is.
 
Update: Just saw this article. It has some more information about how this probably happened.

By: Zacks Equity Research
January 03, 2012 |Comments: 0
Recommended this article (0)
GM | TM
General Motors Company (GM) announced that it would recall about 5,000 units of its subcompact car Sonic due to missing front brake pads in some of the vehicles. Among them, 4,296 were sold in the U.S. and 577 in Canada. The problem was first detected by the automaker while doing warranty service on a Sonic.
The recalled vehicles were assembled in the Orion Township, Michigan plant. GM suspected that the brake pads, which are a part of a subassembly of components, fell off before the cars were assembled and had remained unnoticed at the bottom of containers being shipped to the Orion Township factory. The company expects that the pads are missing in 20 to 30 of the recalled vehicles.
 
jason78 said:
I saw this earlier and was waiting to see how long it took for someone to bring it up.
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Not long when you have retired guys spending hours upon hours surfing the web for something to talk about. They used to call them "fault finders" several years ago. I hope if I ever do retire, I find a better way to spend my idle time.
 
KayKook said:
Not long when you have spending hours upon hours surfing the web for something to talk about. They used to call them "fault finders" several years ago. I hope if I ever do retire, I find a better way to spend my idle time.
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If you are tech savvy "retired guys" you can get the internet to deliver all the news you would want in a matter of seconds. Far faster than reading a newspaper and way less limited, no " hours upon hours surfing the web for something to talk about". MM
 
KayKook said:
Not long when you have retired guys spending hours upon hours surfing the web for something to talk about. They used to call them "fault finders" several years ago. I hope if I ever do retire, I find a better way to spend my idle time.
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Not retired here. Just had 3 weeks of vacation to burn at the end of the year. One day, if you work real hard, you too can get vacation time to spend however you wish. :grin:
 
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