Bail out approved
Thread Starter
Joined: Jan 2007
Posts: 11,941
Likes: 33
From: Conroe, Texas
Bail out approved "AP - Citing danger to the national economy, President Bush approved an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers."
Makes me glad to know the new Camaro still has a chance
Makes me glad to know the new Camaro still has a chance
Teching In
Joined: Mar 2008
Posts: 5
Likes: 0
From: Katy, TX
I think its nice that we get to help GM and others, but they gotta get their **** together quick. 17B doesn't go very far in these industries. I think they burn like 5B a month.
Also, I love how are democracy is optional now.
"Oh, the senate didn't pass the bail out?? No biggy, if I can dodge 2 size 10's, I can save the auto industry by myself. Democracy what?" - Bush
Also, I love how are democracy is optional now.
"Oh, the senate didn't pass the bail out?? No biggy, if I can dodge 2 size 10's, I can save the auto industry by myself. Democracy what?" - Bush
I would have preferred to see them do Chapter 11. Chances are, they would have been come back much better. Alot of successful companies have done that. As much as GM was asking for alone, I don't know if the $17.4 mil will be enough.
On The Tree
Joined: Sep 2008
Posts: 142
Likes: 0
From: houston
I agree! That would have been the BEST option.
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That would have been the best option. They could have ditched the UAW which is what they desperately need. You watch, now that they THINK they are in the clear and can get free money from the government anytime they get in trouble, the UAW will want to renegotiate and threaten to strike if they don't get their way. The UAW stranglehold continues.
Thats cool. I was against this at first, but then I thought of all the supporting companies that it would adversely affect. Like Delphi.
People always bad mouth Unions, but I worked @ a Delphi cat plant up in the Tulsa area. The "over paid" union workers made ~$20/hr as an operator (gross of ~$41600/yr) and $15 or less as a line hand. I guess the concept of "overpaid" is relative to if that is YOUR income that people are complaining about or not. I currently work at a non-union plant and the conditions and pay suck in comparison.
The irony that I see is that Democrats killed the bail out and it fell on the Republican administration to get it done. The Union workers will still have jobs in a month thanks to a Republican administration, but they'll still support the Democratic party.
People always bad mouth Unions, but I worked @ a Delphi cat plant up in the Tulsa area. The "over paid" union workers made ~$20/hr as an operator (gross of ~$41600/yr) and $15 or less as a line hand. I guess the concept of "overpaid" is relative to if that is YOUR income that people are complaining about or not. I currently work at a non-union plant and the conditions and pay suck in comparison.
The irony that I see is that Democrats killed the bail out and it fell on the Republican administration to get it done. The Union workers will still have jobs in a month thanks to a Republican administration, but they'll still support the Democratic party.
I think thats the problem right there. 
So i read this article this morning. This **** gets me fired up. How can the UAW be so ignorant in the situation they are facing. They are partially to blame for the failure and they don't want to give in.
As far as union/non-union, I don't know what these workers really make but I have guys out here in the field that work their *** off in the heat and don't get paid as much as the auto workers. Same education and all, they have it easy in the a/c putting in screws with there pneumatic tools. Send them down here and we can show them what real work is.
As far as union/non-union, I don't know what these workers really make but I have guys out here in the field that work their *** off in the heat and don't get paid as much as the auto workers. Same education and all, they have it easy in the a/c putting in screws with there pneumatic tools. Send them down here and we can show them what real work is.
Part of the agreement is that they have to have similiar payscale of foreign auto makers. If they want a job then they will work for a smaller pay. Otherwise they wont have a job because most of these people have done this all of their life.
exactly. Tell them to go use their job specific skill elsewhere. I am sure Toyota would pick them up for a big cut in pay also.