where did you come up with this idea? no bk court would simply wipe away gm's debt when they have billions in cash and hard assets that could be given to creditors. the $15/sh you came up with is just some made-up number that has no meaning. if gm liquidated, shareholders would get $0 which is what their book value per share is.
I recall a story from the 70's. The trunk on a Caddy didn't shut quite correctly. So a large man with a big rubber mallet came over, hammered the piss out of it, until it closed. Now you hear about zero tolerance. But, really. Old habits die hard. In the 80's, maybe the early 90's, there was an article in the WSJ on the new Ford Ranger. There was a bolting procedure for the truck bed. the bolter held the gun over his head. He was in a pit, the truck rolled over the pit. Needless to say, after lunch, the work was a bit suspect. Someone came up with the idea to put the employee above the bed, gun on a cable. Duh!!!! In the late 70's, my mother was a member of the Amalgamated Meatcutters' Union. That's slang for the Mob. If you remember, or read about that time, it's when the Unions finished off manufacturing for the first time. They'd come back later. Anyway, they paid for her house closing, glasses, lifts for her shoes, everything. I remember telling her what a horrible precedent this all was; it wasnt' the unions place to do all this. The problem? #1 Labor. #2 Management #3 Unions My father had passed, we had very little. I talked her into going into management. She still worked like a dog, but I can so remember this conversation. She called me one day, swore at me like a sailor. She hated it so much. But she did it. about four years later, the Germans came in, bought the Great A & P, lined everyone up, said, the managers stay, the rest of you, you can apply for part time jobs with us, no benefits. #4 Cause and Effect The point of this seemingly unrelated post is, this is all learned behavior. It is ingrained in the fabric of this Banana Republic like the DNA that makes your dog lick his balls. And it's not going away easily. But it needs to be torn down, and rebuilt from the ground up. We don't respect the manufacturing process, and we are losing our respect for individual freedoms. We don't let folks fail. And now, we're in this huge pit, waiting for the fire dept to show up, rescue us, and then we can sue the responsible parties and live happily ever after. WE are the responsible party. Listen to any Union head. Making 500 large, expounding on the downtrodden worker who has no special skill, and how the man misuses him. When this whips back the other way, and it will after the next four years, it will be violent, and hopefully it will be like a huge turd swirling down the porcelin god. We can compete. Look at our military hardware. But we need to pay a wage that is commesurate w/the work. Want to make the big dough? Get an education. Plenty of State Schools are still standing. You don't need to go to Harvard. And the military offers many scholarship programs. You can go, if you're willing to work for it.
HEY GM AND ALL YOU UAW DOUCHBAGS !!!!!!!!!!!!!,,,,,,,,Time for you to learn how 45 million of us live in the USA without health insurance............go f..................yourselves.......................goodbye and good riddance!
Companies at stage 3 are usually still salvageable. 1. Get rid of overpaid under-performing management and hire people who can do the job at a fair ( I know that's a dirty word in US but .... ) cost 2. Use tact and sublety to get all the workers to care and all pull togethor as a team. Fairer returns for effort ( yeah I know there's that non word again !! ) 3. Forget the redneck angry so-called solution of " bombing " your way out. It'll wreck what little is left. good luck guys and no I am not advocating socialism/communism but just good sense
GM is salvageable, but only with some really tough love from their fellow Americans workers. First, some serious management house cleaning and pay restructuring. Then you go to the unions and say, look fella's, you've got a choice. Heath benefits for retirees...gone. Means no more early retirement, Sorry! Wages will be cut 20% across the board, which means you're still paid at a higher wage than most blue collar workers. Deal with it! Vacations...everyone goes back to two weeks and starts over. Yeah, life's a bitch! Yes, life ain't fair. The alternative? You can all go home today...and stay there.
But she did it. about four years later, the Germans came in, bought the Great A & P, lined everyone up, said, the managers stay, the rest of you, you can apply for part time jobs with us, no benefits. ------------------------ It would be pretty interesting to line up all the GM employees and tell everyone who doesn't own a gm product, "you can re apply for a part time job with no benefits". Be a company man.
it is disgusting the situation in the US. the maid making $8/ hr. will be bailing out the GM auto worker making $30hr. people will be buying more guns(which is going on now) and hiding money under the mattress.
Ge, circa 1985. A guy told me, they lined up ten, said, 'you down, fired. The five of you, do your work, and theirs to, or you're fired." Problem is, politicians. The Obama Change message is already out the window, judging by his 12 disciples standing behind him, most of whom I knew. Change my ass. But, he's my President, and I'll let him fuck up first. That should take until March. Hope I'm wrong, but 1, he was 20 minutes late, and two, he scheduled an economic statement during market hours. Make that February.
The Obama Change message is already out the window, judging by his 12 disciples standing behind him, most of whom I knew. Change my ass. ----------- lmao. I hear ya. Some of his choices have been voted out of office or are has been failures. What a racket!