Announcement

Collapse
No announcement yet.

Delphi bankrupt; GM to Follow; the CEO Speaks

Collapse
X
Collapse
 
  • Page of 4
  • Filter
  • Time
  • Show
Clear All
new posts
Previous 1 2 3 4 template Next
  • #31
    yes, again, it's the poors own fault that they are poor right ?

    and just a thought, but what is the value of having a state if it can not provide for its weakest subjects ?
    "Ceterum censeo Ben esse expellendum."

    Comment

    • #32
      Who really cares if GM goes bankrupt. The Japanese have been making better cars for years.
      Only feebs vote.

      Comment

      • #33
        Originally posted by Agathon
        Who really cares if GM goes bankrupt.
        The GM employees maybe?
        "I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
        "I never had the need to have a boner." -- Dissident
        "I have never cut off my penis when I was upset over a girl." -- Dis

        Comment

        • #34
          GM, Ford, Delphi, and associated manufacturers are a big part of the US economy (about 6%, including absolutely all associated businesses), even though as going concerns, they're not valuable. For instance, the entire industry put together is worth less than Google.

          It matters to the workers, who will no longer get very generous wages. It matters to bondholders, who may get stiffed on repayment. It matters to the unions, who will have less pricing power in industrial America. It matters to taxpayers, who may have to pick up the tab for the busted pensions. It matters to the city of Detroit and surrounding areas.
          Last edited by DanS; October 11, 2005, 10:52.
          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

          Comment

          • #35
            Originally posted by DanS
            GM, Ford, Delphi, and associated manufacturers are a big part of the US economy (about 6%, including absolutely all associated businesses), even though as going concerns, they're not valuable. For instance, the entire industry put together is worth less than Google.
            And how many people do GM/Ford/Delphi pays for a living, in comparison to Google?
            "I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
            "I never had the need to have a boner." -- Dissident
            "I have never cut off my penis when I was upset over a girl." -- Dis

            Comment

            • #36
              I cross-edited you.

              Delphi alone employs 180,000 worldwide, at least 40,000 of whom work in the US.

              Google employs about 4,000 worldwide, most of whom work in the US.
              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

              Comment

              • #37
                Thanks for the info. Interesting
                "I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
                "I never had the need to have a boner." -- Dissident
                "I have never cut off my penis when I was upset over a girl." -- Dis

                Comment

                • #38
                  One thing to keep in mind is that Google brings in twice as much profit per employee as Delphi brings in total business per employee.

                  There's a reason why there's a huge spread in pay for knowledge workers versus manufacturing workers. It's not the man keeping the proletariat down.
                  I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                  Comment

                  • #39
                    This is just the changing of the guard.
                    Another big union is going to take it's lumps.
                    While it's a shame that a lot of workers are going to take it up the rear on this, it will help the US be more competitive in the future. The days of low skilled workers making over $50 an hour with benefits better than most skilled professionals is over.
                    The power of those unions which got those fat contracts is over and they will now pay for it.

                    IT's a shame, but not unexpected. They won't be the last.
                    It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
                    RIP Tony Bogey & Baron O

                    Comment

                    • #40
                      They won't be the last... But what other low skilled workers get these kind of fat paychecks? My brother-in-law is UAW and he doesn't get half of what these Delphi employees make.
                      I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                      Comment

                      • #41
                        How about their pension plans and continued health care after they retire? They are being replaced with 401s and no continued health coverage in the corporate workplace. It's inevitable with union contracts also.
                        A lot of money is tied up in these benefits.
                        It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
                        RIP Tony Bogey & Baron O

                        Comment

                        • #42
                          Yes, that's true. My brother-in-law is one of those who will retire at age 50 after 30 years and out. I've told my sister not to expect the pension and health care to be there when my brother-in-law retires.

                          The Japanese auto companies operating in the US do the 401(k) and no health coverage thing, just like professional America.
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                          Comment

                          • #43
                            I'm sad to see those bennies dissappear for everyone, not just the unions. But to be competitve in the global market it's a necessity. The worst part is to see them lost in mid stream. A lot of people counted on them and rightfully so are angry. Kind of like SS for our generation Upping the retirement age for those getting close is quite similar, which I'm sure is inevitable.
                            I keep hoping they delay the decision for awhile so I will be covered by grandfathering.
                            It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
                            RIP Tony Bogey & Baron O

                            Comment

                            • #44
                              I keep hoping they delay the decision for awhile so I will be covered by grandfathering.
                              Intergenerational warfare.



                              I know that my generation is only going to be paying for SS, not receiving it. I would like to see us make our changes earlier, so that we don't feel like putting our elders in the grave before their time.
                              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                              Comment

                              • #45
                                One of the main components of Politics is self interest.
                                It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
                                RIP Tony Bogey & Baron O

                                Comment

                                Previous 1 2 3 4 template Next
                                Working...
                                X