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Breaking News: US Government to own 60% of GM, Canada 12%. Details inside.

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posted on May, 31 2009 @ 10:01 PM
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reply to post by Dark Jester
 


Are you kidding me?!
Im a union worker UAW local 524. We have stepped up and sacrificed quite a bit.

I hate how the media portrays the UAW. Claiming we make 78 dollars an hour! Get a grip.

Where do you work? Let me apply the same equation that is applied to us. Do you get paid holidays? Retirement? Bonuses? days off? They factor all that in and come up with a ridiculous amount based off the numbers they give(called a penny sheet) that we cant verify.

If you make 10 dollars an hour and get any of the above or an equivalent then according to you employer you could be making up to 40 dollars an hour. Thats the same BS GM pulls on the workers.

They have cut hourly workers by 2/3 rds but salary by 1/3rd. The average Japanese CEO makes 54 dollars an hour more than the hourly worker. The average US CEO make 675 dollars an hour more than the hourly worker.

I am a collective bargaining and negotiating rep for UAW 524. U2U me and Ill give you the info to proof my position. I have been in the middle of this crap since day one. I knew Obama would lead GM to restructuring ever since he gave his speech in Detroit before he was prez.

It really pisses me off that the banks get billions with no over site committee, no questions asked, and no payback plan.

GM ASKS for a loan intending to pay it back and the government crawls up there butt with a microscope.

It was a loan people!

The banks just took the money! Where is the out cry on that?

This should scare alot of people. Every union job effects seven nonunion jobs.

If GM goes under it will have a HUGE effect on America.

Wake up this is terrible news!




posted on May, 31 2009 @ 10:04 PM
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Do people here really think that the words lose and loose are the same?

Lose:
www.merriam-webster.com...

Loose:
www.merriam-webster.com...

Would you LOSE your temper if I said your wife was LOOSE?

Just a pet peeve.



posted on May, 31 2009 @ 10:04 PM
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an empire is built by the blood of the oppressed



posted on May, 31 2009 @ 10:07 PM
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This is nothing more than another step towards full NATIONALIZATION of all of America's businesses. We are one step closer to true Socialism. Now the Americans, and the people around the world who have been asking for something like this, will in time come to see what they have asked for.

Welcome to the United Socialist States of America.



[edit on 31-5-2009 by ElectricUniverse]



posted on May, 31 2009 @ 10:08 PM
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reply to post by HooHaa
 


Actually union employee's cost GM 78 dollars or more an hour. You might not see that full 78 dollars but that is what GM's expense is.

Also how bout the 2 billion worth of Assets the UAW owns? It's all factors combined that created this mess the wrong course of action for GM in where they were going with their cars and everything else.

I feel for your position, but this isn't the first time American car companies have taken loans from the government. GM should have failed back in the 70's and then the 80's and now here we are almost 20 later doing it again.

If one union job effects seven non union jobs then the union is too powerful. It is as simple as that.

I forgot who said the quote, but it went something like "Show me a strong Union and I will show you a dieing industry".

I'm not blaming you, but I think the Union employee's should be on their P's and Q's and find out what there due's were going to pay for.



posted on May, 31 2009 @ 10:10 PM
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My sentiments exactly. It is always the little man who toils and suffers for the dreams and plans of the elite. Hand in hand they scratch each others backs as the poor get poorer. Welcome to the new world order.



posted on May, 31 2009 @ 10:13 PM
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reply to post by HooHaa
 


Would going under now be worse than pumping more and more billions of dollars into a company that will go down the tubes later?

I think not.

By the way, I just bought my first foreign vehicle. I was a Ford and GM guy for all my life.

Whatever market share GM had is certainly going to be much less.

Edit to change "I think so" to "I think not"

[edit on 31-5-2009 by FrankWhite222]



posted on May, 31 2009 @ 10:25 PM
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reply to post by FrankWhite222
 


haha that is good.
and while at it do people understand the difference between "effect" and "affect"?
one is a noun and one is a verb- you tell me which one (i know)lmao
sorry off topic
but i was watching the news to see what this is all about and never heard a damn word so still waiting.
hoping not korea but a feeling it may be gm- but courts are closed on weekends usually so doubt they ruled on a bankruptcy hearing on a sunday but you never know!
maybe on cnn tomorrow morning??? (east coast btw)
i'll be waiting



posted on May, 31 2009 @ 10:30 PM
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An interesting point was made on TV yesterday, I believe it was Fox News.

Ford has not taken any money from the government, and yet they will probably suffer due to this, because now that the government owns 60% of GM, who do you think they're going to turn to when they need to buy new cars for their fleets? Ford probably won't even have a chance due to this conflict of interest. The worst part is that the government probably won't even be smart enough to negotiate a significant discount for any business they throw GM's way, which will lead to more needless waste.

Nothing good can come from this bailout. This is not fair competition, and is not in the best interest of the consumer/tax payer. By buying GM, the government has probably done even more damage to the US auto industry.

[edit on 31-5-2009 by Soldat401]



posted on May, 31 2009 @ 10:37 PM
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Originally posted by Soldat401
..........................
Nothing good can come from this bailout. This is not fair competition, and is not in the best interest of the consumer/tax payer. By buying GM, the government has probably done even more damage to the US auto industry.


It is not fair competition, because that's what the rich and powerful want, no competition at all, but for the state to have control of businesses. With the STATE owning now 60% of GM, it means the STATE OWNS GM.

Unfortunately the new generations of Americans, and those who have never experienced True Socialism, will learn the hard way because they decided not to heed from the experience of those who have gone through this before.

History repeats itself, and new generations only learn when they hit the same stone wall which past generations have hit when they embraced True Socialism, believing the lies from the rich that by Nationalizing the entire system, and becoming a true Socialist state, the STATE will take care of all their problems.... yeah right....

[edit on 31-5-2009 by ElectricUniverse]



posted on May, 31 2009 @ 10:42 PM
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reply to post by HooHaa
 


You know i could sit here and scream about this or that and watch my blood pressure go up like you but i'm going with a different approach.


The current veteran UAW member at GM today has an average base wage of $28.12 an hour, but the cost of benefits, including pension and future retiree health care costs, nearly triples the cost to GM to $78.21, according to the Center for Automotive Research.

By comparison, new hires will be paid between $14 and $16.23 an hour. And even as they start to accumulate raises tied to seniority, the far less lucrative benefit package will limit GM’s cost for those employees to $25.65 an hour.
bentcorner.com...


One reason why, they say, is the ultra-high labor costs for union workers employed by the Big Three. It costs over $73 per hour on average to employ a union auto worker, according to University of Michigan at Flint economist Mark J. Perry.

"Is it right to tax the average worker making $28.50 to bailout workers whose labor cost is over $73 an hour?" Perry asked.

www.studentnewsdaily.com...

Read these articles and if you feel as if you want to scream some more then go right ahead.



posted on May, 31 2009 @ 10:47 PM
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I'm surprised nobody picked up on this: (Unless on another thread)

Canada's Magna to buy Opel!

www.torontosun.com...

Made some very interesting viewing on CTV last night, where the guy from Magna said something on the lines of Magna not being short of cash! Well if this is the case, why aren't more private companies getting involved, instead of the US and Canadian governments??




posted on May, 31 2009 @ 10:49 PM
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Originally posted by Dark Jester
..............
Read these articles and if you feel as if you want to scream some more then go right ahead.


And your solution for this is for the STATE to own GM?

There are certainly other ways to solve this other than NATIONALIZING GM, and this is only the first auto company the government is nationalizing. You can bet that others will follow, and then there will be no fair wages for noone, but just what the STATE (those in power of the state, and that is not the people anymore)wants you to make.

[edit on 31-5-2009 by ElectricUniverse]



posted on May, 31 2009 @ 10:52 PM
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reply to post by ElectricUniverse
 


i agree with you my freind.
ford has kept themselves afloat with no bailout money but now they will go under because the gov't is going to push gm and chrysler products down our throats until ford has to bail too and the gov't owns them also.
socialism at it's finest!!!
i know i won't be able to sleep at night until i know the gov't owns all and tells me what i need and/or want.

the bail outs make me want to puke- taxation without represention- isn't there something about that] in the constitution? oh wait that document is irrelevent anymore.
use my money to pay people overseas so the rich get richer while the poor get poorer and then tax me more saying " well we just spent all this money so we need to get it back"
shouldn't have given it in the 1st place- you run your business into the ground then tough.
why can't i get a bailout? i'm $5000 in debt- i think i deserve one too
glad i sleep with a gun- oh wait that won't happen much longer either.



posted on May, 31 2009 @ 10:54 PM
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reply to post by ElectricUniverse
 


[Quote]And your solution for this is for the STATE to own GM?[/Quote]

Actually no i would never want that to happen.



posted on May, 31 2009 @ 11:02 PM
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Why couldn't we have bought out Honda or Toyota and moved them to Detroit? Bummer....I'd rather invest in 60% of those companies rather than GM.

[edit on 31-5-2009 by ghaleon12]



posted on May, 31 2009 @ 11:06 PM
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The company should have just gone under like 99% of any company or business that goes bankrupt.

If the market needed another car manufacturer, then one would rise up to take it's place.

Isn't that the nature of a consumer-driven (no pun intended) market?



posted on May, 31 2009 @ 11:17 PM
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reply to post by TwiTcHomatic
 


That is what I have always been taught, but according too Bushonomics and Obamanomics, companies are too big to fail so they must be propped up at all costs.

I don't know, we are in Bizzaro World where up is down right is left black is white.



posted on May, 31 2009 @ 11:18 PM
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reply to post by TwiTcHomatic
 


Yes

Not so sure why the USA has a hard on for GM

Cant understand this either..

We should just buy toyota so we can have the #1 car company again..

Note to self.. dont buy GM's IPO

LOL



posted on May, 31 2009 @ 11:22 PM
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reply to post by Hastobemoretolife
 


Lol...bizarro world.

Ever seen the movie Idiocrasy?

I often feel like the guy in this movie...and i'm sure many people here would as well.

It's about the whole world turning stupid and brainless in the future.



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