"Even if GM implements the planned operating actions that are substantially within its control, GM's estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business. Looking into the first two quarters of 2009, even with its planned actions, the company's estimated liquidity will fall significantly short of that amount unless economic and automotive industry conditions significantly improve, it receives substantial proceeds from asset sales, takes more aggressive working capital initiatives, gains access to capital markets and other private sources of funding, receives government funding under one or more current or future programs, or some combination of the foregoing. The success of GM's plans necessarily depends on other factors, including global economic conditions and the level of automotive sales, particularly in the United States and Western Europe."
GM Reports Third Quarter Financial Results
Posted by ShortOil , Nov 07, 2008 11:30AM
RIP
Posted by guest , Nov 07, 2008 11:32AM
Another bk for Weil...does this mean I can get a Hummer for freeeeeeee!!!!
Posted by guest , Nov 07, 2008 11:33AM
Running out of money eh....
Posted by guest , Nov 07, 2008 11:35AM
Maybe they should stop making such piece of shit cars...the Big 3 CEOs and airline CEOs should be dumped on an island somewhere and never be allowed to reenter civilization.
Posted by guest , Nov 07, 2008 11:35AM
GM reported a net loss of $2.5 billion for the third quarter, including special items. Company says "estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business."
Translation: HELP!
Posted by guest , Nov 07, 2008 11:38AM
Dear GM,
Maybe a better business model would have helped. You had a good run, a few laughs and made a few good cars over the years. I wish you the best of luck in your future endeavors.
Toyota/Mercedes Owner
Posted by guest , Nov 07, 2008 11:38AM
Time to shut down the state of Michigan.
Posted by guest , Nov 07, 2008 11:39AM
who is John Galt
Posted by guest , Nov 07, 2008 11:40AM
Thank God I own a Yugo. At least when it breaks down in the winter, the rear window defroster keeps your hands warm while you're pushing it.
Oh, and Ford?? Thanks for the 2002 Explorer. Literally the worst car ever created. It's so ugly, when you Google it, you have to turn "safe search" off.
Posted by guest , Nov 07, 2008 11:43AM
Uncle Sam will never let GM, Ford & Chrysler fail. The damage would go way beyond anything Lehman Bros could ever inflict on the US economy.
That is the opinion of TGFD.
The Guy from Delaware
Posted by guest , Nov 07, 2008 11:46AM
Listen they make piece of shit cars and far too many of them, models, versions, etc...is this really a surprise.
They've been a cunt hair away from insolvency since 2005..
Posted by guest , Nov 07, 2008 11:46AM
@ then you must be a Serb, Slov or Croat since Bosn cant afford cars and i dont think any other country has certified that poorly motorized lunchbox
Posted by ShortOil , Nov 07, 2008 11:48AM
Who the shit is buying this thing?
Posted by guest , Nov 07, 2008 11:49AM
Why doesn't the UAW, what with it's pension warchest and all that, offer to help out the company? I mean, since it's workers are so committed to the long-term success of GM, they should obviously be willing to support the company that has provided for their livelihood. Then all they have to do is be efficient, quality workers, and the problem should solve itself.
I mean, this is flawless, unless of course: a) The union is just a bunch of ungrateful morons, or b) The union doesn't actually care if it's constituents continue to have jobs, or c) The union workers aren't actually good at their jobs.
...never mind. GM is hosed. Good work UAW.
Posted by guest , Nov 07, 2008 11:49AM
@ arent you the same guy that was fully convinced McCain was going to win in a sweeping victory?
muhahahaha!
Posted by guest , Nov 07, 2008 11:49AM
@10 arent you the same guy that was fully convinced McCain was going to win in a sweeping victory?
muhahahaha!
Posted by guest , Nov 07, 2008 11:50AM
@11 Agreed. The quality of the product is poor and the consumers moved on.
Posted by guest , Nov 07, 2008 11:50AM
Dear GM:
Remember that 2004 S-10 you made for me? You put the fuel pump in the gas tank to keep the fuel pump cool. But, if you drive a long way and run the tank down to near empty, there's no gasoline to keep the fuel pump cool within operating temps. So it heats up. Then you fill up with nice cool gasoline and the pump shatters from the temperature reversion. $1,000.00 repair bill. Happened 4 times. From now on, if I sit next to a GM person, they're going to get the whole story ad nauseum. You earned it.
Posted by NAS Keflavik boi , Nov 07, 2008 11:51AM
@ Delaware guy -- I think Uncle will let Chrysler bite the big one, but not Ford and GM.
@ 12 - dude they sold Yugos here in the states about 20 some odd years ago!
Posted by guest , Nov 07, 2008 11:52AM
Mr. Einhorn told Greenlight Capital Re's shareholders on a conference call that mistakes in the portfolio have hurt the company.
Greenlight Capital Re reported on Tuesday [Nov. 3] a net loss of $117.8 million, or $3.29 per share, in the third quarter. Its share price rose 3.84% on Wednesday to $12.97, curbing its year-to-date stock losses to around 40%.
Mr. Einhorn reminded shareholders that he never reveals his exact trading strategies but said the portfolio is still short large financial companies whose balance sheets remain exposed to the fallout from the current financial crisis. The hedge fund manager also said the company is betting against companies that rely on consumers spending a lot of money, a trend researchers say is changing as growth slows and unemployment rises.
Looking back, Mr. Einhorn said the company miscalculated how short positions would protect the portfolio. "We should have been more conservatively positioned," Mr. Einhorn said, adding that the long side of the portfolio also suffered from "analytical errors in a few names."
Mr. Einhorn said the company's portfolio was hurt by a bet that carmaker Volkswagen AG's shares would sink while they rose dramatically.
http://www.hedgeworld.com/news/read_newsletter_aa.cgi?section=dail&story=dail15391.html
Posted by guest , Nov 07, 2008 11:53AM
@18 Funny story. So what are you driving now?
Posted by guest , Nov 07, 2008 11:53AM
Would they loose less money if they gave the cars away for free and got the extra service dept revenue?
Posted by guest , Nov 07, 2008 11:53AM
Headline looks like an instruction on how to use a douche bag
Posted by guest , Nov 07, 2008 11:54AM
In 06, I commented to my father that GM and F would be bankrupt in 5 years. Short of a bailout, looks like my prediction will come true.
Posted by guest , Nov 07, 2008 11:57AM
@24
wow you are like the anti-TGFD!
Posted by guest , Nov 07, 2008 11:57AM
Just pull the plug on the goddamn company. It really is just a matter of time.
Posted by ShortOil , Nov 07, 2008 11:57AM
"Looking into the first two quarters of 2009, even with its planned actions, the company's estimated liquidity will fall significantly short of that amount unless economic and automotive industry conditions significantly improve, it receives substantial proceeds from asset sales, takes more aggressive working capital initiatives, gains access to capital markets and other private sources of funding, receives government funding under one or more current or future programs, or some combination of the foregoing."
You know it's bad when you skip the "we have ample liquidity" line and go straight to threatening the government for a bailout
Posted by guest , Nov 07, 2008 11:57AM
@19....Dude, shouldn't you be in school?
Posted by Anal_yst , Nov 07, 2008 11:58AM
@14
Wait, are you suggesting the UAW (and its members) actually, ya know, put their $ where their mouth is?
HERESY! Never gonna happen.
Honestly, I'm not agreeing with it, but why would they use their own $ to ensure their own long-term self-interest when they can just lobby the government to foot the bill? Its sick and twisted, but hardly unprecedented.
Posted by guest , Nov 07, 2008 11:59AM
One of my favorites.
TOP TEN REJECTED MODEL NAMES FOR NEW CARS
10. Pontiac Cyst
9. Dodge Glove
8. Oldsmobile Beiruter
7. Nissan Spleen
6. Chevy Junta
5. Hyundai Accordion
4. Mazda Eczema 500
3. Dodge Johnson
2. Yugo Screw Yourself
1. Ford Gelding
SPODE
Posted by guest , Nov 07, 2008 12:02PM
@30 Cadillac Spode
Posted by guest , Nov 07, 2008 12:02PM
OMG! Kendra's engaged.
Posted by guest , Nov 07, 2008 12:05PM
all big 3 needs to go bankrupt and stop being a drain! as a taxpayer i dont want to bail out idiots who make shitty cars i would never buy. the factories should be used to make Teslas instead.
Posted by guest , Nov 07, 2008 12:06PM
When I was first learning to drive I had an Oldsmobile. When I got older and got a Japanese car (equivalent cost), I could not believe the difference in quality, ride, etc. I never went back to a GM car (except when I had to rent them, which only confirmed my opinion of their autos).
Obama is from IL. No way will he let a big Midwestern company with a lot of black workers go bk. There will be bailout.
GM will drink our milkshake.
Posted by guest , Nov 07, 2008 12:06PM
@21, @18 here: Driving a Daewoo now. That's who makes the Chevy Aveo now for GM. Makes sense, doesn't it?
Look for me by broke down by the side of the road in your town soon.
Posted by guest , Nov 07, 2008 12:06PM
Injured soldiers are always more demanding than dead ones, let 'em all die...
Posted by guest , Nov 07, 2008 12:06PM
GM, Chrysler, Ford, Fannie Mae, Freddie Mac, and AIG should all merge, names themselves the biches and see how much money they can lose in 2009.....it'll be fun....maybe they can beat the federal govt!
Posted by guest , Nov 07, 2008 12:06PM
It's all too difficult for me. I'm movin' on.
Posted by guest , Nov 07, 2008 12:06PM
hey BIG 3 (Michigan, Ohio), who did you vote for....oh thats right, see if you can stay in business long enough for Barry O and Biden to bail you out and pay off the Union for all those votes
W
Posted by guest , Nov 07, 2008 12:15PM
Big 3 Auto Companies are a perfect example of how socialism does not work.
Union members are so stupid that they put themselvs out of work.
Now Obama and the idiot Dems will do the same to the rest of the economy.
Posted by cy , Nov 07, 2008 12:15PM
Let's reward a few at the expense of many! It's the patriotic thing to do!!!
Posted by guest , Nov 07, 2008 12:18PM
Here's a question:
If GM were to go into bankruptcy, would it be a complete liquidation of the company or would it be a reorganization and they would remain in business?
Posted by guest , Nov 07, 2008 12:18PM
have UAW bail them out. the big 3 serve no purpose in our world anymore other than cutting checks to lazy union workers.
Posted by guest , Nov 07, 2008 12:23PM
Prgy LOVES Man Juice
Posted by guest , Nov 07, 2008 12:24PM
Prgy LOVES Man Juice
Posted by guest , Nov 07, 2008 12:24PM
@42: they'd reorg. Not much to liquidate and the debt would crush them, let alone the off-balance sheet stuff.
Even if GM limps along so they can have the facade of "going concern", so the pension and medical costs do not have to be realized and can be put off into the hazy future, it's worth it.
Gettelfinger is an idiot. The UAW would rather see the ship go down than admit that it's sinking and try to pick up a bucket and bail.
Oh, right, bailing out water isn't in union-approved job description.
Posted by AJ , Nov 07, 2008 12:25PM
@42 Reorg
Posted by guest , Nov 07, 2008 12:27PM
But if they were to Reorg, who would possibly purchase a GM car with the company in bankruptcy and then there are the dealerships, why would they remain GM dealers? It seems like a self fulfilling prophecy to me that even if they Reorg they disappear eventually.
The ofcourse in Reorg what happens to the pension plans and medical benefits for retired GM employees, not just factory workers union members but white collar retirees of the firm, they have big pensions and benefits too.
Posted by guest , Nov 07, 2008 12:37PM
The same people that bought the common equity of LEH/BSC/FNM/FRE/AIG before they all got their common shares substantially wiped out or in the case of LEH went TU, are now buying GM.
The question is would the taxpayer money that would bailout a failing business like GM not be better used by just giving it to the X GM employees?
I understand about the tsunumia that GM going under would cause but i wonder if it will cost more to keep them alive?
Who is going to buy the assets they are currently trying to sell? Who actually believe that car sales are going to improve anytime in the next 12-18ms?
Not to start any rumors because i know nothing, but i have to wonder if GM is preparing a bankruptcy filing. They need to stop the cash burn, and reorganize and salvage waht they can ASAP.
Posted by guest , Nov 07, 2008 12:38PM
FUCK GM
FUCK FORD
FUCK CHRYSLER
THE UNEMPLOYMENT IN MICHIGAN IS GOING TO 10%. YOU HEARD IT HERE FIRST.
LET ALL THOSE BLACKS IN MICHIGAN GO UNEMPLOYED.
WHAT SAY YOU MICHAEL MOORE.
MWAHAHAHAH. IT'S GOING TO BE *FUN* TO SEE GM IMPLODDDE!!
Posted by guest , Nov 07, 2008 12:41PM
@ 50 you are a sick person.
Don't forget karma is a bitch.
Who wants to bet that this weekends sunday crisis is GM?
Posted by guest , Nov 07, 2008 12:47PM
Ignore the troll
Posted by guest , Nov 07, 2008 12:47PM
@49 - those X GM employees you're considering giving money to are the reason that company is about implode. Overpaid, underperforming union workers have been producing a substandard product for years, and getting compensated too highly and treated too softly for doing it. The unions are killing that industry, and the airline industry. Why should you pay someone to do a job that could either be done cheaper overseas, or be done by a robot here in the US? The UAW is nothing but a bunch of people who are no longer relevant or marketable in the real world. Good riddance.
Posted by chernevik , Nov 07, 2008 12:53PM
Some bailout effort is inevitable. The only thing to do is to insist on pain sharing from workers and retirees, and
statement of a cap on bailout aid. There has to be some definite statement of where the aid will stop, and agreement that we won't throw good money after bad.
P.S. "until the recession is over" is not a definite statement.
Posted by guest , Nov 07, 2008 12:54PM
It is going to be an excellent few weeks till the end of the year to watch the big 3 explode.
I'm especially looking forward to seeing Chrysler close down, because I want to see Cerberus BLEED. Along with Chrysler, I'm certain that Cerberus is going to lose shit-loads of money on their funds - first GMAC, now Chrysler.
WoW!
Posted by guest , Nov 07, 2008 12:56PM
lets merge them all together with Amtrak ...and when the airlines go bust again we can merge them in too
that way we can all take extra money out of our paychecks each month and give it to union workers for decades to come
Posted by guest , Nov 07, 2008 12:57PM
GM = Terri Schiavo
Posted by guest , Nov 07, 2008 12:58PM
@ 53 "The UAW is nothing but a bunch of people who are no longer relevant or marketable in the real world. Good riddance."
kinda like I-Bankers...
Posted by guest , Nov 07, 2008 1:04PM
I guess all you money people will join the uaw in the unemployement line. This sounds like the giant sucking sound that perot talked about in the 90's.
Financial People hit the streets
Big 3 hit the streets
Suppliers hit the streets
Retail people hit the streets because above are not buying
Looks like the economy is taking a dump and your wishing the uaw to slit there own throat.
Sounds like a bunch of unemployed whiners. When you have been unemployed for 6 months or more, I think your tune will change.
Posted by guest , Nov 07, 2008 1:05PM
no money to auto companies w/out killing the unions first please
Posted by guest , Nov 07, 2008 1:08PM
Is this the end of NASCAR Sundays? Time for Formula 1 in the US again? Actually, who will be racing next year if most of the automakers trip on their dicks and go the way of investment banks.
Posted by guest , Nov 07, 2008 1:09PM
@55 I am with you on this one. Cerberus and Snow need to take a well deserved beating.Everything they touch turns to dust.
Posted by Anal_yst , Nov 07, 2008 1:23PM
Ladies and gentlemen, Gung HO!
http://www.imdb.com/title/tt0091159/
Posted by cy , Nov 07, 2008 1:28PM
58-
The difference is that bankers don't form unions to demand they get paid more than their commensurate productivity or else they halt production. Bankers are constantly hired and fired, but, since they're educated and adaptable, they find something else to do. Those that think a life where you get paid $100/hour to screw on brake pads over and over is sustainable are finding out the hard way that it's not.
Posted by Anal_yst , Nov 07, 2008 1:34PM
@ 64
Bingo.
Also, lets not kid ourselves, its not just the blue collar workers. How many thousands (tens of thousands?) of 'white collar' GM employees were employed due to the institutionalized beaurocracy that is GM/F/etc, and now are subsequently beneficiaries of that inefficiency?
Posted by guest , Nov 07, 2008 1:37PM
@64 -
For the bankers, their union rep is called a "lobbiest". Don't make the mistake of thinking that just becuase wall st. doesn't have a group called a "union" that they don't have group and individuals that fill the same roll: looking out for their WellFare(tm).
-The Guy From Detroit
Posted by guest , Nov 07, 2008 1:41PM
@64 -
For the bankers, their union rep is called a "lobbiest". Don't make the mistake of thinking that just becuase wall st. doesn't have a group called a "union" that they don't have group and individuals that fill the same roll: looking out for their WellFare(tm).
-The Guy From Detroit
Posted by guest , Nov 07, 2008 1:43PM
@66: First of all, it's "lobbyist".
Banks employ people "at will". We have no Gettelfinger to say "you can't fire 15% of your staff without upping benefits for your retirees/narrowing job descriptions/etc." It is just DONE. It's brutal but it is a competitive global business.
Union reps preserve jobs that should not exist for people who aren't qualified, to support those who haven't worked and did not pay in sufficient amounts to cover what they are using now.
Posted by cy , Nov 07, 2008 1:51PM
67-
I'm against all forms of protectionism, whether is be for bankers, auto workers, farmers, whatever. That said, its ridiculous to claim that bankers and auto workers have the same type of protections in place.
Posted by guest , Nov 07, 2008 2:01PM
@58 - Can you get an i-banker who is just as qualified in some emerging country to do the same job, for 1/10th the cost?
No?
Then the comparison of bankers to union workers isn't appropriate now, is it?
Posted by guest , Nov 07, 2008 2:01PM
@64@68 Perfect!
Posted by guest , Nov 07, 2008 2:01PM
Just more unpatriotic negativity from liberals who hate America, and the troops.
Posted by guest , Nov 07, 2008 2:10PM
If anyone, including #67, can give me any reason why - decades after they were no longer needed - unions are somehow a benefit, or value-add, to the companies their workers are employed by, I would absolutely LOVE to hear it.
When they were first around, unions prevented companies from abusing them - draining them, taking too much. I get it, and I agree they were necessary. But now, unions are abusing the companies - draining them, and taking too much. How is that working for you?
Posted by Anal_yst , Nov 07, 2008 2:18PM
Second 73, I'd love to see a cogent, well-supported argument in favor of unions. I'd be mightily impressed if anyone could produce such a work though, in light of the mountain of evidence to the contrary.
Posted by guest , Nov 07, 2008 2:26PM
@72 go back to horse-fucking in your eastern texas town.
let the people with full heads of teeth, not living in trailer parks, with at least a high school education do the thinking/talking.
go on, scram.
Posted by guest , Nov 07, 2008 2:27PM
@72 go back to horse-fucking in your eastern texas town.
let the people with full heads of teeth, not living in trailer parks, with at least a high school education do the thinking/talking.
go on, scram.
Posted by guest , Nov 07, 2008 2:40PM
@#50...
That "MWAHAHAHAH" in your post makes TGFD think you're the same clown who wrote "muhahahaha!" in #16.
The Guy from Delaware
p.s. TGFD was wrong about the election; I admit it.
Posted by guest , Nov 07, 2008 2:46PM
@#50...
That "MWAHAHAHAH" in your post makes TGFD think you're the same clown who wrote "muhahahaha!" in #16.
The Guy from Delaware
p.s. TGFD was wrong about the election. I admit it.
Posted by guest , Nov 07, 2008 2:48PM
I am not seeing a bottom to this situation. If the big three go through bankruptsy then they can offload their unions, ditch their pensions, and fire every deadwood employee in the company.
Is this the same playing field as wall street employment?
But is this not the employment enviroment that 90% of the people in this country have been living with for some time now?
Bankruptsy is the answer not a government run auto industry. The nerve of ceo's nowadays! Ceo's get paid the big bucks to figure a way out of this mess they are in, get on with the job! Hire an AX man for CEO and let the blood run in the streets. When its over you will have a viable industry.
Posted by guest , Nov 07, 2008 3:01PM
muhahahah MWAHAHAHAHA
TGFD is inside my cornhole
Posted by Anal_yst , Nov 07, 2008 3:08PM
@ 79
Your missing a few rather important details about bankruptcy, but if I'm reading your quasi-coherent comment correctly, I think you're on the right track
Posted by guest , Nov 07, 2008 3:25PM
Shitty cars + shitty union + shitty state = shitty company
Posted by guest , Nov 10, 2008 12:37AM
I used to Drive an American Car ONCE..and I swore never again. I mean who makes these fuking worthless machines..blind trolls? No one wants a GM or FORD. They make shitty cars and they are all ugly. Serioulsy, I would not drive them even if it was FREE. There is no saving GM..unless each UAW member was required to buy 2 cars per year at minimum. Even the fuking unions probably drive foreign cars. Good luck GM and Good Bye!
Posted by guest , Nov 12, 2008 2:31PM
@ 53 "The UAW is nothing but a bunch of people who are no longer relevant or marketable in the real world. Good riddance."
kinda like I-Bankers...
LOL!
Posted by guest , Nov 12, 2008 2:49PM
You guys need to get more grounded. I'm a late 30s PM at a long only equities fund. MBA, CFA, all the letters. Undergrad from a good school (not ivy, but top tier), do very well, thanks. My dad was a union guy. Busted his ass at a factory, but got paid a decent wage that led to a fine middle class life in the burbs, a week or so at the Jersey shore every summer, good schools for three kids. He didnt work up until his late 70s, like some PM's I know, cause the work was back breaking, grinding, difficult. In no way stimulating or life affirming. No client dinners, no ego at all. But we lived a decent life which I think was the seed for the extraordinarily good life I and my siblings live now. So again, don't generalize about unions. If anything, the management at GM et al had their heads up their asses and let the market get away from them badly.
Posted by guest , Nov 24, 2008 4:34PM
I've been reading a lot of these blogs and of course I keep seeing the UAW'ers on them. They all have there little take on how they are an integral part of the auto industry and how they are not to blame. Well I for one have seen the greed, laziness, exagerated entitlement and poor atitudes of the union workers firsthand as a supplier. (suppliers that were treated like shit and asked to constantly cut costs)(Now before I go on I'm sure there are many honest hard working people that actually earn their money and don't take advantage of Union protection from termination and exorbitant wages/benefits.and to those I am sorry your union "brothers" made you look bad!) First of all union workers are overpaid...extremely overpaid. How does a car company let alone any company justify the hourly rates, gobs of overtime and even job banks that pay people for sitting on their asses at home?? Do you know of any other industry that pays people for sitting at home??? What was Detroit thinking to agree to this? I mean I know personally of people that push a broom around a plant floor making $120K a year??!! Are you fucking kidding me? Do you know how many people are out there that would happily do that for $40K!! I've walked into auto plants and see guys sitting around a table playing fucking poker like its the weekend on the clock of course. Guaranteed overtime?? What if there is nothing to build because demand is down, sorry pay me the overttime anyway. And if I or someone else non-union picks up a piece of paper off of the floor they file a grievance...what a waste of time and resources. Not working as a team to better the product or help the bottomline just because "thats not my job" or I'm on my 5th break today and can't help you" Performing poorly only to have the jobs saved by the union steward, sleeping on the job doing drugs on the job, drinking on the job, kicking out shoddy product. Thats why Japanese and German cars will forever be superior. I've been a part of unions before-hell I even got my job unloading trailers saved from firing at UPS because of a union, even though I deserved to get fired!! Now the UAW is only one small part of the problem, the Big 3 all waste time and resources on developing poor excuses for new car platforms, I worked firsthand with the H3 and the engineering budget for that piece of crap was mind boggling. There is too much white collar fat at the top, too many brands- for gods sake kill Buick and Pontiac already, nobody is buying it??!! Keep Caddy, Corvette and the SUV truck lines, and the hybrid sub compacts. Kill everything else. Kick the union out of all american manufacturing sectors and let people that actually want to work for half the money line up around the corner for half the labor costs and start running the business smart instead of like there is a bottomless pit of money to be had. I've supplied and worked in several non-union right to work plants/facilities. It works just fine, everyone makes a decent wage, and if they perform poorly they're gone, and someone who is happy and eager to fill the position is close behind if that happens. Unions are a burden not an asset anymore. Its a new world, better get rid of the boats, cars, vacation homes you bought with your exorbitant overtime and be accountable for how your greed and strong arming tactics contributed to the mess your companies are in now. Get ready to work for less or better yet go get an education or learn a new trade like everyone else does.
Posted by guest , Nov 24, 2008 4:36PM
I've been reading a lot of these blogs and of course I keep seeing the UAW'ers on them. They all have there little take on how they are an integral part of the auto industry and how they are not to blame. Well I for one have seen the greed, laziness, exagerated entitlement and poor atitudes of the union workers firsthand as a supplier. (suppliers that were treated like shit and asked to constantly cut costs)(Now before I go on I'm sure there are many honest hard working people that actually earn their money and don't take advantage of Union protection from termination and exorbitant wages/benefits.and to those I am sorry your union "brothers" made you look bad!) First of all union workers are overpaid...extremely overpaid. How does a car company let alone any company justify the hourly rates, gobs of overtime and even job banks that pay people for sitting on their asses at home?? Do you know of any other industry that pays people for sitting at home??? What was Detroit thinking to agree to this? I mean I know personally of people that push a broom around a plant floor making $120K a year??!! Are you fucking kidding me? Do you know how many people are out there that would happily do that for $40K!! I've walked into auto plants and see guys sitting around a table playing fucking poker like its the weekend on the clock of course. Guaranteed overtime?? What if there is nothing to build because demand is down, sorry pay me the overttime anyway. And if I or someone else non-union picks up a piece of paper off of the floor they file a grievance...what a waste of time and resources. Not working as a team to better the product or help the bottomline just because "thats not my job" or I'm on my 5th break today and can't help you" Performing poorly only to have the jobs saved by the union steward, sleeping on the job doing drugs on the job, drinking on the job, kicking out shoddy product. Thats why Japanese and German cars will forever be superior. I've been a part of unions before-hell I even got my job unloading trailers saved from firing at UPS because of a union, even though I deserved to get fired!! Now the UAW is only one small part of the problem, the Big 3 all waste time and resources on developing poor excuses for new car platforms, I worked firsthand with the H3 and the engineering budget for that piece of crap was mind boggling. There is too much white collar fat at the top, too many brands- for gods sake kill Buick and Pontiac already, nobody is buying it??!! Keep Caddy, Corvette and the SUV truck lines, and the hybrid sub compacts. Kill everything else. Kick the union out of all american manufacturing sectors and let people that actually want to work for half the money line up around the corner for half the labor costs and start running the business smart instead of like there is a bottomless pit of money to be had. I've supplied and worked in several non-union right to work plants/facilities. It works just fine, everyone makes a decent wage, and if they perform poorly they're gone, and someone who is happy and eager to fill the position is close behind if that happens. Unions are a burden not an asset anymore. Its a new world, better get rid of the boats, cars, vacation homes you bought with your exorbitant overtime and be accountable for how your greed and strong arming tactics contributed to the mess your companies are in now. Get ready to work for less or better yet go get an education or learn a new trade like everyone else does.
Posted by guest , Nov 24, 2008 4:37PM
I've been reading a lot of these blogs and of course I keep seeing the UAW'ers on them. They all have there little take on how they are an integral part of the auto industry and how they are not to blame. Well I for one have seen the greed, laziness, exagerated entitlement and poor atitudes of the union workers firsthand as a supplier. (suppliers that were treated like shit and asked to constantly cut costs)(Now before I go on I'm sure there are many honest hard working people that actually earn their money and don't take advantage of Union protection from termination and exorbitant wages/benefits.and to those I am sorry your union "brothers" made you look bad!) First of all union workers are overpaid...extremely overpaid. How does a car company let alone any company justify the hourly rates, gobs of overtime and even job banks that pay people for sitting on their asses at home?? Do you know of any other industry that pays people for sitting at home??? What was Detroit thinking to agree to this? I mean I know personally of people that push a broom around a plant floor making $120K a year??!! Are you fucking kidding me? Do you know how many people are out there that would happily do that for $40K!! I've walked into auto plants and see guys sitting around a table playing fucking poker like its the weekend on the clock of course. Guaranteed overtime?? What if there is nothing to build because demand is down, sorry pay me the overttime anyway. And if I or someone else non-union picks up a piece of paper off of the floor they file a grievance...what a waste of time and resources. Not working as a team to better the product or help the bottomline just because "thats not my job" or I'm on my 5th break today and can't help you" Performing poorly only to have the jobs saved by the union steward, sleeping on the job doing drugs on the job, drinking on the job, kicking out shoddy product. Thats why Japanese and German cars will forever be superior. I've been a part of unions before-hell I even got my job unloading trailers saved from firing at UPS because of a union, even though I deserved to get fired!! Now the UAW is only one small part of the problem, the Big 3 all waste time and resources on developing poor excuses for new car platforms, I worked firsthand with the H3 and the engineering budget for that piece of crap was mind boggling. There is too much white collar fat at the top, too many brands- for gods sake kill Buick and Pontiac already, nobody is buying it??!! Keep Caddy, Corvette and the SUV truck lines, and the hybrid sub compacts. Kill everything else. Kick the union out of all american manufacturing sectors and let people that actually want to work for half the money line up around the corner for half the labor costs and start running the business smart instead of like there is a bottomless pit of money to be had. I've supplied and worked in several non-union right to work plants/facilities. It works just fine, everyone makes a decent wage, and if they perform poorly they're gone, and someone who is happy and eager to fill the position is close behind if that happens. Unions are a burden not an asset anymore. Its a new world, better get rid of the boats, cars, vacation homes you bought with your exorbitant overtime and be accountable for how your greed and strong arming tactics contributed to the mess your companies are in now. Get ready to work for less or better yet go get an education or learn a new trade like everyone else does.
Posted by guest , Nov 24, 2008 4:41PM
I've been reading a lot of these blogs and of course I keep seeing the UAW'ers on them. They all have there little take on how they are an integral part of the auto industry and how they are not to blame. Well I for one have seen the greed, laziness, exagerated entitlement and poor atitudes of the union workers firsthand as a supplier. (suppliers that were treated like shit and asked to constantly cut costs)(Now before I go on I'm sure there are many honest hard working people that actually earn their money and don't take advantage of Union protection from termination and exorbitant wages/benefits.and to those I am sorry your union "brothers" made you look bad!) First of all union workers are overpaid...extremely overpaid. How does a car company let alone any company justify the hourly rates, gobs of overtime and even job banks that pay people for sitting on their asses at home?? Do you know of any other industry that pays people for sitting at home??? What was Detroit thinking to agree to this? I mean I know personally of people that push a broom around a plant floor making $120K a year??!! Are you fucking kidding me? Do you know how many people are out there that would happily do that for $40K!! I've walked into auto plants and see guys sitting around a table playing fucking poker like its the weekend on the clock of course. Guaranteed overtime?? What if there is nothing to build because demand is down, sorry pay me the overttime anyway. And if I or someone else non-union picks up a piece of paper off of the floor they file a grievance...what a waste of time and resources. Not working as a team to better the product or help the bottomline just because "thats not my job" or I'm on my 5th break today and can't help you" Performing poorly only to have the jobs saved by the union steward, sleeping on the job doing drugs on the job, drinking on the job, kicking out shoddy product. Thats why Japanese and German cars will forever be superior. I've been a part of unions before-hell I even got my job unloading trailers saved from firing at UPS because of a union, even though I deserved to get fired!! Now the UAW is only one small part of the problem, the Big 3 all waste time and resources on developing poor excuses for new car platforms, I worked firsthand with the H3 and the engineering budget for that piece of crap was mind boggling. There is too much white collar fat at the top, too many brands- for gods sake kill Buick and Pontiac already, nobody is buying it??!! Keep Caddy, Corvette and the SUV truck lines, and the hybrid sub compacts. Kill everything else. Kick the union out of all american manufacturing sectors and let people that actually want to work for half the money line up around the corner for half the labor costs and start running the business smart instead of like there is a bottomless pit of money to be had. I've supplied and worked in several non-union right to work plants/facilities. It works just fine, everyone makes a decent wage, and if they perform poorly they're gone, and someone who is happy and eager to fill the position is close behind if that happens. Unions are a burden not an asset anymore. Its a new world, better get rid of the boats, cars, vacation homes you bought with your exorbitant overtime and be accountable for how your greed and strong arming tactics contributed to the mess your companies are in now. Get ready to work for less or better yet go get an education or learn a new trade like everyone else does.
Posted by guest , Nov 24, 2008 4:46PM
I've been reading a lot of these blogs and of course I keep seeing the UAW'ers on them. They all have there little take on how they are an integral part of the auto industry and how they are not to blame. Well I for one have seen the greed, laziness, exagerated entitlement and poor atitudes of the union workers firsthand as a supplier. (suppliers that were treated like shit and asked to constantly cut costs)(Now before I go on I'm sure there are many honest hard working people that actually earn their money and don't take advantage of Union protection from termination and exorbitant wages/benefits.and to those I am sorry your union "brothers" made you look bad!) First of all union workers are overpaid...extremely overpaid. How does a car company let alone any company justify the hourly rates, gobs of overtime and even job banks that pay people for sitting on their asses at home?? Do you know of any other industry that pays people for sitting at home??? What was Detroit thinking to agree to this? I mean I know personally of people that push a broom around a plant floor making $120K a year??!! Are you fucking kidding me? Do you know how many people are out there that would happily do that for $40K!! I've walked into auto plants and see guys sitting around a table playing fucking poker like its the weekend on the clock of course. Guaranteed overtime?? What if there is nothing to build because demand is down, sorry pay me the overttime anyway. And if I or someone else non-union picks up a piece of paper off of the floor they file a grievance...what a waste of time and resources. Not working as a team to better the product or help the bottomline just because "thats not my job" or I'm on my 5th break today and can't help you" Performing poorly only to have the jobs saved by the union steward, sleeping on the job doing drugs on the job, drinking on the job, kicking out shoddy product. Thats why Japanese and German cars will forever be superior. I've been a part of unions before-hell I even got my job unloading trailers saved from firing at UPS because of a union, even though I deserved to get fired!! Now the UAW is only one small part of the problem, the Big 3 all waste time and resources on developing poor excuses for new car platforms, I worked firsthand with the H3 and the engineering budget for that piece of crap was mind boggling. There is too much white collar fat at the top, too many brands- for gods sake kill Buick and Pontiac already, nobody is buying it??!! Keep Caddy, Corvette and the SUV truck lines, and the hybrid sub compacts. Kill everything else. Kick the union out of all american manufacturing sectors and let people that actually want to work for half the money line up around the corner for half the labor costs and start running the business smart instead of like there is a bottomless pit of money to be had. I've supplied and worked in several non-union right to work plants/facilities. It works just fine, everyone makes a decent wage, and if they perform poorly they're gone, and someone who is happy and eager to fill the position is close behind if that happens. Unions are a burden not an asset anymore. Its a new world, better get rid of the boats, cars, vacation homes you bought with your exorbitant overtime and be accountable for how your greed and strong arming tactics contributed to the mess your companies are in now. Get ready to work for less or better yet go get an education or learn a new trade like everyone else does.
Posted by guest , Nov 24, 2008 4:48PM
I've been reading a lot of these blogs and of course I keep seeing the UAW'ers on them. They all have there little take on how they are an integral part of the auto industry and how they are not to blame. Well I for one have seen the greed, laziness, exagerated entitlement and poor atitudes of the union workers firsthand as a supplier. (suppliers that were treated like shit and asked to constantly cut costs)(Now before I go on I'm sure there are many honest hard working people that actually earn their money and don't take advantage of Union protection from termination and exorbitant wages/benefits.and to those I am sorry your union "brothers" made you look bad!) First of all union workers are overpaid...extremely overpaid. How does a car company let alone any company justify the hourly rates, gobs of overtime and even job banks that pay people for sitting on their asses at home?? Do you know of any other industry that pays people for sitting at home??? What was Detroit thinking to agree to this? I mean I know personally of people that push a broom around a plant floor making $120K a year??!! Are you fucking kidding me? Do you know how many people are out there that would happily do that for $40K!! I've walked into auto plants and see guys sitting around a table playing fucking poker like its the weekend on the clock of course. Guaranteed overtime?? What if there is nothing to build because demand is down, sorry pay me the overttime anyway. And if I or someone else non-union picks up a piece of paper off of the floor they file a grievance...what a waste of time and resources. Not working as a team to better the product or help the bottomline just because "thats not my job" or I'm on my 5th break today and can't help you" Performing poorly only to have the jobs saved by the union steward, sleeping on the job doing drugs on the job, drinking on the job, kicking out shoddy product. Thats why Japanese and German cars will forever be superior. I've been a part of unions before-hell I even got my job unloading trailers saved from firing at UPS because of a union, even though I deserved to get fired!! Now the UAW is only one small part of the problem, the Big 3 all waste time and resources on developing poor excuses for new car platforms, I worked firsthand with the H3 and the engineering budget for that piece of crap was mind boggling. There is too much white collar fat at the top, too many brands- for gods sake kill Buick and Pontiac already, nobody is buying it??!! Keep Caddy, Corvette and the SUV truck lines, and the hybrid sub compacts. Kill everything else. Kick the union out of all american manufacturing sectors and let people that actually want to work for half the money line up around the corner for half the labor costs and start running the business smart instead of like there is a bottomless pit of money to be had. I've supplied and worked in several non-union right to work plants/facilities. It works just fine, everyone makes a decent wage, and if they perform poorly they're gone, and someone who is happy and eager to fill the position is close behind if that happens. Unions are a burden not an asset anymore. Its a new world, better get rid of the boats, cars, vacation homes you bought with your exorbitant overtime and be accountable for how your greed and strong arming tactics contributed to the mess your companies are in now. Get ready to work for less or better yet go get an education or learn a new trade like everyone else does.