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Congress Offers Big Three Automakers Help, Makes Demands in Exchange

I need to add to my above that I sure hope something is worked out. I may not be related to it but I SURE DO NOT WANT TO SEE THE DETROIT AUTO INDUSTRY FOLD!

Congress Offers Big Three Automakers Help, Makes Demands in Exchange

My earlier comments were incorrect.

My information about wages from articles in the newsmedia was misleading as is a large part of the information the media publishes.

From what I've found out in the meanwhile is that the payscale for autoworkers is between $14 and $33 per hour. Of course that is from the media also but it sounds more reasonalble. Apparently the $73 per hour I have seen quoted in the newspapers includes benifits. That seems like a lot of benifits!

I'm not down on the union worker although I sure think things like the job bank where a laid off employee gets 95 percent of his wages while laid off, and some of the modern day retirement packages are a little much. Also, I need to point out that the union negotiated with the automakers for the terms that are in place and they agreed. What would you expect a worker to say to better wages or benifits for himself ... No?

If I'm down on anyone it's the newsmedia! Anything sensational will do for them whether it's misleading, wrong, or what. They slant the news and suck people like me into believing incorrect information.

Maybe the UAW workers will have to make some wage concessions for congress to aprove some money for the industry; I don't know. We'll find out.

Why Shorting Financials Is a Logical Response

To MichaelZZ:

Excellent anaysis. However, it is naiive to expect our govenment to implement any such measures because it would undercut the ignorant and greedy position of too many office holders feeding at the trough.

i am, like so many citizens, absolutely dismayed and disappointed in our existing government and the disregard for the welfare of our country.

It is a scenario of our officials of "what's best for me" and the hell with anything else.

And I have no idea of what can be done to change things.

Congress Offers Big Three Automakers Help, Makes Demands in Exchange

I agree with riggerunner! Along with the fat pigs in the auto industry lets look at what the UAW has managed. I don't see how the autoworkers in Detroit are so much more skilled to be entitled to the kind of pay they make compared to the average U.S. worker.

I think that over the past years the big three have simply caved in to the UAW to prevent strikes and the loss of company income that would ensue.

Where are any provisions in the Congress' conditions concerning the Detroit payscale? I certainly approve of the conditions concerning the fat cats and their bonuses but how about the $70 per hour average wage of their production emplyees. How about if the UAW scales back so they make somewhere near what the rest of us in the country make. They want me and the rest of us peons to subsidise with our taxes their lush income.

The Shallowest Generation

Kelly Bkk, Of course the Greatest Generation created Social Security and Medicare/Medicade and you would be a fool not to admit that these programs haven’t done a great deal of good. Granted that they are becoming a problem but in your apparent infinite wisdom why haven’t you suggested a solution to them? Tell us what you suggest to replace them or shall we let many old retired people starve and die They were created with the premise that if you paid a part of your earnings into a government program the government would invest it or whatever and you would have something to help you live in your old age. We didn’t foresee our devious politicians robbing it and using it to pay for everything else they could think of. And I don’t have to remind you of how many modern day leaches have found out ways to live off of Medicare/Medicade which was created to help those that sincerely need help.

I am an old fart who belongs to the Greatest Generation and I may not agree with everything in the main article but it generally describes the facts as they are.

I might add that the Boomers have been raising their kids with the same mentality as theirs. Young kids can’t ride a school bus to school, they have to drive a new car (not an older one, God forbid); etc, etc, etc. And my apologies to the minority of Boomers it doesn’t apply to. Many of the Boomer generation have good sense.

Everyone recognizes the human nature to defend ones faults however wrong. Apparently you’ve succumbed to that problem.



On Oct 31 05:49 PM Kelly Bkk wrote:

> The baby boomers were babes in the woods at the time the "greatest
> generation" created medicare/medicaid and social security -- these
> three are the trillion dollar defecits that will blow up this country.
> The boomers had nothing to do with the increasingly layers of elderly
> junk and greed that we are all now saddled with. "Greatest generation,"
> my ass. Boomers and their SUVs and subprimes can't begin to touch
> the greatest generation for self-aggrandizement and sucking at the
> public trough.

Another Bloodbath?

WOW !! This article really lit a fire under everyone!

Gabe. Bless you, I would wish you were right but I think we're still in for a bunch of hurt.

We can thank our hurt on the slime on Wall Street and in Washington. I'm talking about the fat cats on Wall St. (Not the everyday grunts like you and me that work there) and our self-serving congress. Neither of them feels badly over the situation because they're still living high on the hog and will continue to throughout and after this crisis. And what facinates me is that the American public will vote the same self-servers right back into congress. Wait and see!

Daytrader hit it on the nose: THEY DO NOT CARE ABOUT ANYONE BUT THIER LOUSY,STINKING,SELVES.

I've been an optimist my entire life but it's beginning to wear on me. Excluding the slimes mentioned above, the United States is still the greatest country in the world and it's Main Street that makes it that way.

During Market Volatility, Don't Overleverage On the Short Side

Jeff, it was a short but very knowledgeable and interesting article. Thanks.

Don

Record Setting Month for CBOE ETF Options

Hey! I'm with aCBOEtrader: "Sounds like extortion, right. Please write an article about that."

Record Setting Month for CBOE ETF Options

aCBOEtrader: Thanks for your comment! I wish more market makers and floor traders would comment on the "goings-on" and their opinions. To my way of thinking; who knows more about it?

The Case Against Investing in the Dow Industrials (For Now)

Steven,

A very interesting article !

The Case Against Investing in the Dow Industrials (For Now)

Steven,

A very interesting article!

Options Trader: Friday Outlook

Phil,

I access your column because it's listed under "Options." I think your political observations are interesting but I would really like some insight on options. Some while back you gave some opinions on options which I thought were excellent.

Can you give us some options opinions now and then?

Don

Stocks Are the Place to Be - Google and Apple in Particular

I agree with magman and John Egan; Mark Hines is giving his opinion of the market, etc. and everyone has the right to their opinion. If you don't agree with his then let's hear yours but there is little reason to be rude and knock someone else because you don't agree with him.

Most people log onto these blogs to read and perhaps to find interesting news or advice. If you don't like his viewpoints then don't read it.

Options Trader: Thursday Outlook

4/3/08 Very good article by Phil Davis!