User 310967

Buy, Sell or Hold: GM's Too-Big-to-Fail Myth

THANK YOU....


On Dec 02 03:02 PM Mike_I_N_Mich wrote:

> Here is a couple year old analysis of UAW wages.
>
> www.cargroup.org/pdfs/...
>
> It includes 2003 actual and 2007 projected values. See page 31 of
> this PDF for the original. For convenience of readers I typed the
> 2007 projected values below:
>
>
> Wages:
>
> Wages and Cola (28.44),
> Overtime (3.90),
> Vacation (6.62),
> Bonus (0.60),
> Other Misc.( 2.09),
>
> Total Wages( 41.65)
>
> Benefits:
> Pensions (4.94),
> group life (1.40),
> healthcare (13.38),
> FICA and UC (3.26),
> other misc( 0.35),
>
> total Benefits (23.34)
>
>
> Grand total (64.99)
>
>
> Most lilely this projection was low due to health care inflation.
>
>
> This is not executive pay allocated to the workers as stated above.
> I don't believe it includes retired peoples benefits allocated to
> workers.
>
> It is extensive vacation, and although not stated, every self respecting
> UAW worker takes all their 10 sick days as vacation. FYI, the salary
> workers do not do generally do this.
>
> They have 30 and out pensions, and the figure above actually looks
> lower than I expected.
>
> The health care looks a little high at $13.38 an hour. This would
> be over $20,000 per year. But they have tiny co-pays on the order
> of 5% so they probably waste a lot of medical resources since they
> have no skin in the game. And every crooked doctor in the world has
> migrated to UAW areas just to milk this cow. The fraud in this area
> is staggering according to my neighbor who is a doctor, so $20k is
> possible.
>
> The shame is that the UAW works hard, while they are working. My
> relative makes this kind of wage and lives in a double-wide. They
> always viewed themselves as the vanguard of the working man, but
> the working man, and many otherwise socialist-liberal types have
> voted with their feet and supported the agressively non-union transplants.
>
>
> The UAW made some real concessions recently in their retiree health
> plans. But they only reduced the wages and other benefits of workers
> who haven't been hired yet. Very magnaminous of you guys!
>
>
> I suggest that the UAW take significant cuts in benefits. Start with
> much higher co-pays on medical like everyone else in this country
> has. Also fewer days off (sum of vacation and sick days), and a couple
> bucks off the hourly wage. And the sub pay (95% for sitting on ass)
> has to go immediately.
>
> Then, maybe, just maybe, the taxpayers will support a bridge loan.
>
>

Buy, Sell or Hold: GM's Too-Big-to-Fail Myth

what do you do for a living.???
Southern Auto Workers are doing well without union representation...how do you know that ..40%..temps..that have no benifits...someone the us gov will have to supprot at a later date...corp. welfare...
also with the wages they make ..they keep your taxes lower..and home prices stready.....
it's sad that it has come to this
On Dec 02 09:37 PM thedozer wrote:

> luckie:
>
> I drive a Ford and a Honda Accord... BOTH made in the USA!
>
> furthermore, I don't care where it is made. I care what it costs
> and the utility it will provide for me.
>
> Mike n Mich: spot on... however, as I was and still am against socialistic
> practices, including the financial bailout... so NO for the big 3.
>
>
> the Southern Auto Workers are doing well without union representation.
>
> you ask me if I am willing to loan big 3 some of my money???'
> what have they done for me? nothing... and that's the way I want
> it.
>
> furthermore, the government is in violation of the constitution acting
> as a bank to begin with.
>
> It is sad to see them go down... and it will drag us all down...
> but better to take our medicine now and get it over with than to
> leave this same problem for our kids to figure out in 20 more years
>
>
>
>

Buy, Sell or Hold: GM's Too-Big-to-Fail Myth

GM pays about $75 per hour – $156,000 a year ...where does this number come from??.....