Thadeus III

GM Bankruptcy: An Inflection Point for Underfunded Pension Plans?

Oh, BTW. These said companies should get business loans from banks just like any other business, instead of borrowing money in the form of bonds or stocks which created this mess we are in.

GM Bankruptcy: An Inflection Point for Underfunded Pension Plans?

I suppose it isn't possible that you are buying into a financial philosophy that has some major practical flaws, not to mention oral ones. But never mind. When your balloon bursts you'll soon realize it. If companies simply turned over the "dividends" to the workers who helped produce the excess profits instead of giving them to "do nothings" like you then these said companies would have no trouble funding the promised pension plans. But since you've been an admitted loser all your life paying child support , dropping out of accounting school, and agreeing to $9/hr you have no conscience ripping off the people who actually work making the money you skim. That's the whole problem with the Wall St. mentality pal. It has gotten way out of hand. We would all be far better off without stocks, bonds, and other financial instruments subject to corruption. But you apparently like to look the other way and admit that. No thanks. You talk out of both sides of your mouth.

GM Bankruptcy: An Inflection Point for Underfunded Pension Plans?

Yes I expect a pension. If the company I started working for offered that as PART of the total compensation package for my job , you bet we do. What the H3ll, you don't realize that most companies did have DB pensions since WWII and then due to stock holder greed, CEO and management obscene wages/bonuses, and other dubious "skimming " practices both workers and their companies got fleeced. And just quit with the deriding "mommy & daddy" crap. What makes you think investors should reap obscene gains from just pushing paper around and profiting from employees hard work? If more companies were fair, there would still be DB compensation packages. But investors want their almighty "irrational exuberance" for gains on stocks and bonds. Go fly a kite with your perception of the way compensation for employees should be made. You will never have a chance for a pension or benefits if you don't realize where the profits are really going.

What's an American Car These Days?

Mr. Perry likes to filter information like many do today so suit their POV or assuage their conscience because of buying a foreign car or product. All one needs to do is to look at what other countries are and have been doing for their businesses, people, and banks, not just now, but for YEARS. . In Japan, China, and especially Germany and other European countries the governments have been subsidizing their car makers for years. Since last Fall, Germany has been giving it's citizens a cash incentive to buy GERMAN made cars such as the now popular Opel Agila. When a $5K incentive is suggested here in the US all people can do is complain about how it's helping those lazy *#@$! auto workers and their companies. Other countries have always been protectionist. Ever since WWII the U.S.A. has been too much the worlds care taker. People here need to get past petty jealousies and prejudice when it comes to the well being of us all. There will never be a time when all of us get the same pay or benefits. Contrary to what many people think or say, a union doesn't "dictate" how a business is run or what engineering or production design choices are made. A union does help workers attain safer work standards, benefits, and compensation based on how well the company is doing, while trying to establish a decent standard of living or well being for workers and their families. Is spite of what others may say, this has helped establish a fairer standard of living for others not working in a unionized company or occupation. No more. Now GM, Ford, etc, want to provide $14-1$16/hr and also have a person fund his/her own 401K and a good deal of their medical insurance. Not even Suze Orman would see how that is possible. In the case of the UAW, losses in benefits and pay have occurred especialIy since 1982. But many are too petty, jealous, or ignorant to research that. Well, I guess we all need to move 10- 20 people into a single household and start living like third world countries.

In addition, I've always told my kids to make the best of what you have, live within your means, but keep your eye open for opportunity to better yourself by making efforts to do so. Not everyone has the same talents or academic abilities, another reason for a union to help provide a worker some measure of dignity no matter what his job position. . If you keep looking at the other guy, making comparisons, and being competitive for money, you will either be unhappy or an arrogant blowhard that no one wants to be around (except others like you).
This country needs to take care of it's own as other countries have for years. Instead of criticizing and and forming narrow minded opinions, we need to see how the rest of the world is handling this financial crisis. And Kman, I applaud you for your moving into the electrical field. Ir does require a lot of sacrifice to travel and move around a lot. I have a friend that did electrical contract work as you are. But he decoded to eventually work for a local contractor for less pay and a weekly paycheck to be with his kids and family. We need to be mindful of other people's circumstances and respect their decisions.

Four Myths from Detroit's Auto Show

Ok so let's rehash the past. Early Honda Accords (1979-1982 were rust buckets. They couldn't keep fenders on them. They also had a tendency to start using oil at relatively low mileage and then gas mileage would also suffer. Google it. Nissan (Datsun) engines have always had problems with oil seals failing. Even later model 1998 - 2005. I could go on. Both currently made Honda Accord ( harsh ride, poor seat comfort, poor mpg) and Toyota Camry ( slipping transmissions) are suffering from quality and performance issues.But how about this from last week:


Zacks.com
Time to Hit the Car Lots
Thursday January 8, 10:16 am ET
By Paul Raman, CFA

We think it is an excellent time to hit the car lots. Sales are slow, inventories are high, raw materials (steel, chemicals, plastic, rubber) are depressed, and interest rates are near zero. Demand is off due to the credit crunch. Dealers and manufacturers are hurting and are hungry for business.

Despite the bad publicity recently, Chevrolet and Chrysler have some of the BEST products in the market. The non-Chevy part of General Motors (NYSE: GM - News) must be restructured. Also, Honda (NYSE: HMC - News) has emerged to be a Big-4 player in the US. They work and act more domestic than even Chrysler.

We were DISAPPOINTED with Ford , TOYOTA and NISSAN , and feel they have TIRED OLD product lineups. A strengthening Japanese Yen may force Toyota and Nissan to become the Big-5 and Big-6 in the US. Toyota's QUALITY ratings were the LOWEST among all models studied, especially for the pickup/SUV part of the product line.