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- Wall Street Breakfast: Must-Know News
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Wall Street Breakfast: Must-Know News [view article]
Healthcare and legacy costs are partially to blame, but the UAW is, in my opinion, more of the culprit. I worked for Ford and experienced the ridiculousness of all of the red tape first hand. The UAW is nothing more than a leech. From the union reps who do nothimg more than walk the floor and shake hands, to the stupid rules pertaining to job classification, unions are a big reason why AMerican car makers are struggling. Hell, in my plant (Sterling Heights plant on Mound road for Ford) we had a guy making over 100k a year and he was a damn floor cleaner!On Aug 01 07:24 PM brian58 wrote:
> It isn't the unions that has caused the downfall of GM. It is healthcare
> costs for retirees. GM can compete against Toyota. It cannot compete
> against Japan. If we had universal health care coverage in this country
> and American companies could get out of having to offer healthcare
> benefits to it's employees then GM would be in better shape. And
> before someone starts screaming about socialized medicine let me
> state a few observations. Healthcare is not free. It costs money
> to provide good healthcare and money is a finite resource. Everyone
> has an obligation to take care of themselves by eating right, exercising
> and not smoking. (Tobacco companies use to get government subsidies,
> why shouldn't lung cancer patients) But every American citizen has
> a right to decent healthcare. One of the things that made America
> great was the availability of a free education to everyone, just
> not for the rich. Modern medical technology is expensive. Some CEO
> shouldn't get rich by saying no to the insurance company saying no
> to my medical care. Why would you want to be part of a society that
> put greed above the well being of it's citizens regardless of economic
> class. Let's have compassionate capitalism in America. Money isn't
> isn't evil but the love of money is or so they say. Reply
Wall Street Breakfast: Must-Know News [view article]
It isn't the unions that has caused the downfall of GM. It is healthcare costs for retirees. GM can compete against Toyota. It cannot compete against Japan. If we had universal health care coverage in this country and American companies could get out of having to offer healthcare benefits to it's employees then GM would be in better shape. And before someone starts screaming about socialized medicine let me state a few observations. Healthcare is not free. It costs money to provide good healthcare and money is a finite resource. Everyone has an obligation to take care of themselves by eating right, exercising and not smoking. (Tobacco companies use to get government subsidies, why shouldn't lung cancer patients) But every American citizen has a right to decent healthcare. One of the things that made America great was the availability of a free education to everyone, just not for the rich. Modern medical technology is expensive. Some CEO shouldn't get rich by saying no to the insurance company saying no to my medical care. Why would you want to be part of a society that put greed above the well being of it's citizens regardless of economic class. Let's have compassionate capitalism in America. Money isn't isn't evil but the love of money is or so they say. ReplyWall Street Breakfast: Must-Know News [view article]
I worked for TWA and was a union member for 34 yrs. TWA went thru 2 bankruptcies. The I.A.M. slept with TWA. Unions are a waste at this time. They were great in the beginning but useless now.If you fly straight you don't need them. If you have problems there is the Labor Board. Reply
Wall Street Breakfast: Must-Know News [view article]
Splitting up SM and FM into private units to sell to the private markets assumes that there will be somebody to serve the tax payers best interest during the process. There has been a real shortage of concern for the tax payers during this debacle. Having Paulson, one of the true robber barons of our time heading the deal could be a reason. Having a group of entitled Ivy types telling us what they need to do to save us from what they were responsible for in the first place could be another problem. ReplyWall Street Breakfast: Must-Know News [view article]
long_on_oilThe reason that GM was "forced" to abandon future planning for high oil prices was unions? Certainly that is part of the equation, but it is disingenuous not to recognize also that trying to maximize income statements quarter to quarter is a major factor in the lack of proper longer term strategy.
Maximizing quarterly income results works great when the existing strategy is good for the long haul but can lead to disaster when the current strategy is short-sighted. Reply
Wall Street Breakfast: Must-Know News [view article]
GM's catering to the Unions which eventually lead to $ 190 billion in pension fund liabilities via the health insurance and retirement income paid to retirees is what has GM in the toilet. You are right about the fact that GM can not react fast enough but that is because they don't have the resources to react.This should end once and for all that the car companies are in bed with the oil companies. The car companies are going belly up while the oil companies are making record profits.
The labor unions have never gotten it, there is no such thing as it is us against the company. Us is the company so when the company dies so does us. If the company prospers so does us. Labor unions have never understood short term sacrifice for long term gain. It has always been give it to me now and the hell with tomorrow.
Labor unions destroyed GM, Ford and Chrysler because management let them so in the end the failure of american car companies can be blamed on both parties plus the american public for putting up with the negotiation process. Reply
Haszard
Wall Street Breakfast: Must-Know News [view article]
Zyprexa has generated a lot of bad press for Eli Lilly and they still have unresolved Zyprexa settlement claims.Eli Lilly is 'reaping the whirlwind' for aggressive marketing of Zyprexa that has caused suffering and deaths.
Zyprexa is being avoided by doctors they aren't prescribing it for new patients at all anymore.
--
Daniel Haszard 4 year Zyprexa patient who got diabetes from it. www.zyprexa-victims.co...
Reply
Lieberman
Wall Street Breakfast: Must-Know News [view article]
First of all, the only ones to blaim for GM's issues are GM, the "Oil bugs", the Oil lobbyists and the Republican "Oil Guard". GM has seen this coming along with the others and they decided to keep the status quo as long as possible while we waged dirty wars and American lives have been lost to keep our foot mired in the black fools gold.With some foresight, and some small sacrifices that some very rich oil players decided not to take, we have made ourselves so dependent on foreign oil that we are at the mercy of the very countries who burn our flag in their streets.
McCain and his cronies now want to blame Obama(!) for his reluctance to pollute the oceans on this planet while they have done NOTHING for a decade to look into alternative energy.
Poor GM, they need to retool. Yes, they do. They knew it 20 years ago and have not done anything about it. They built their massive oil guzzing Hummer plants despite warnings from global warming experts and concentrated on short term profits. Well, let this be a lesson to everyone that the "eventually" is now playing out and the piper will be paid.
Reply
Wall Street Breakfast: Must-Know News [view article]
natural gas is energy.these short term fluctuations ar meaningless. a real cold northern winter & all changes. ReplyWall Street Breakfast: Must-Know News [view article]
If you think the natural gas market may go lower temporarily with the weak economy, CHK's hedging of its natural gas sales prices should make you feel better. This basically guarantees that CHK will get a good price for their gas. It doesn't look like short term falling gas prices should have much effect on CHK's near term earnings. ReplyWall Street Breakfast: Must-Know News [view article]
UBS re-iterated its buy rating on CHK, but it lowered its FY earnings estimates (now $9.65 vs. previously expected $10.45). UBS also lowered its price target from $90 to $86. Still the price of the stock is still below $50 as I write. It still looks like a great bargain, if you don't expect natural gas price to go through the floor soon. Current predictions are that they will not. If you look at how much money CHK could have made in Q2, you should really be encouraged. Even if CHK has hedged a ways in advance, they will eventuatlly benefit from higher natural gas prices, if those prices stay high. ReplyWall Street Breakfast: Must-Know News [view article]
My reading of the CHK result seems to tell me that the company did not actually lose money. In fact it beat estimates slightly. I think I understand the accounting jargon to mean they took an accounting loss based on the market value of the gas they sold compared to the hedged value. Apparently CHK has hedged around $8.90 for Q3. I think in Q2 CHK lost the difference in the price they got for their gas and the then current market value of the gas (or the value of the part of the reserves they were selling). If I am readin everything correctly CHK did not actually lose any money at all. Their hedging on the gas prices simply caused them not to make as much money as they would have if they hadn't hedged. If prices had gone down instead of up, CHK would have looked brilliant. I don't think many people are looking brilliant right now. CHK still looks like a great stock. It will likely now fluctuate with the price of oil and gas (at least for the near term). ReplyWall Street Breakfast: Must-Know News [view article]
The market is going down but I don't know when and how much. One can buy pretty good 'blue chip" stocks with PE's below the historical market average. However, most will hold on to cash to see what the market will look like in the next years. ReplyWall Street Breakfast: Must-Know News [view article]
Looks like very bad news for GM. This should point out to our lawmakers in Congress just how important it is for the US to increase production of oil and decrease use of oil. We are losing carmaker share because we as a nation have ignored oil costs far too long. GM needs to almost completely retool for the new millenium cars and trucks it will need to stay in business.The market pretty clearly wants to go down today. No doubt it will do exactly this if the payrolls number is bad. If the payrolls number is good, the entire market may turn the other way. This will include oil and commodities also, as a good payrolls number will indicate a healthier than expected US economy. Oil/gas, financials, and fertilizer stocks stand to be the most swayed by this result. I am hoping for a good result. Ditto from the ISM. We can only wait and see. Reply
Moody’s: Negative Outlook for U.S. Chemicals Companies [view article]
In addition to the massively negative impact of soaring oil and gas prices on DuPont, two of the major markets for this old chemical conglomerate have cratered--housing and autos. Of even greater negative significance is the fact the same bumbling CEO and his Leadership-LITE TEAM remain intractably embedded in the executive suites of Fortress Wilmington! ...funfun.. Reply