General Motors closing 1,200 dealers, 137,330 JOBS GONE

Discussion in 'Wall St. News' started by S2007S, Apr 29, 2009.

  1. Great points. At least the UAW members will keep their jobs and cushy benefits.
     
    #11     Apr 29, 2009
  2. Horse and buggy makers probably whined too when there time was up.

    Constructive destruction at work; we'll be better off for it just look at all the capital GM destroyed in the past 20 years or so.

    Give that capital to someone better able to use it.

    Seneca
     
    #12     Apr 29, 2009
  3. If I opened my own car manufacturer, the FIRST thing I would do is hire a few key leaders from Honda & Toyota (companies that know how to make a really good car), then hire some Western but mostly offshore automotive designers, and all production would be done in a non-union, lowcost company. Maybe China, maybe Vietnam, maybe Philippines, whatever. Of course, automated to the max.

    There is something wrong with an American HS dropout, who expects $60/hour+ in total compensation, to help tighten bolts, and job bank receiving 95% of salary for doing nothing for 2 years.

    About the only industries still getting company pensions were govt workers and carmakers. And carmakers also get lifetime medical. No wonder GM, Ford and Chrysler lose money on every sale.
     
    #13     Apr 29, 2009