Expenses are displayed in an income statement. A balance sheet comprises assets and liabilities, with equity being the balancing part. Together with the cash flow statement, they can be collectively referred to as the "financial statements." 101. As an aside, you can get fairly creative with expenses, depending on whether you choose to capitalize certain costs or, alternatively, attempt to expense capital expenditures, or how you allocate overhead. The list goes on. Bottom line: how the numbers are presented are often dependent on who is presenting them.
Bullshit. If you buy insurance on your own, it costs you $250-$500/month. There is no additional employer kick-in. And if you look at the chart posted on the first page, there isn't squat about overhead in that phony breakdown. Overhead isn't part of hourly wages plus benefits, it's just part of the cost of doing business. This creative accounting is all bullshit.
totally agree, which muddies what the Overhead they are talking about is. At that rate, how much do managements salaries contribute to the per hour cost of the rank and files per hour cost. even at their exorbitant price, it may be less per hour than one realizes.
Nobody held a gun to GM's head and made them sign a labor agreement where they agree to pay workers in a job bank for doing nothing. They signed it on their own free will. Labor asked for what they wanted, and GM gave it to them. It's no big whup anyway - GM will get the money from taxpayers even after the well played out facade by those people in congress we entrust to take care of out tax dollars.
I agree the overhead really muddies the water in determining costs. If the overhead is not factored into the $75/hour then it costs even more per hour to build cars than one would think. That would put the burdened rate for a UAW member beyond the current outrageous level to the unthinkable level.
ACTUALLY, most airlines used to put out an annual report to employees showing them what other expenses the company would pay for each employee (they don't anymore since the costs for the most part have been shed or past on to the employee....other than unemployment comp). Airlines pay $600 to about $850 a month for "family" health care premiums currently, so the employees now pay 40% to 70% of that health care premium cost. Most airlines have STOPPED 401k contributions and none offer "paid" AD&D or Life Insurance....if an airline employee wants those items THEY pay the FULL premiums. I know MANY still in the airline industry and I am very familiar with the degradation of their pay and compensation packages. BTW, 9/11 and the spike in crude to $146's did more to continue SLASHING airline employee pay than any previous company/union negotiations!!! BUSH, globalist minion and the crusher of AIRLINES!!!!!!!!!!! :eek:
You keep treating that $75/hour like it's an established fact. The whole point of this thread is that it's not. If you have evidence to the contrary, post it. Common sense says NOBODY pays health insurance premiums of $20/hour. Nobody, period.
thats true, but if you have 10,000 retirees that you are still paying health care benefits on, they have to be figured in somewhere. It would be nice to see the books on the whole mess so one can do a real evaluation, not just this guessing game.
Blaming the auto workers for the automakers demise is like blaming the insurance salesmen at AIG or the tellers of a failed bank. The sole responsibility for the CEO's is to run their company profitably, responsibility and legally. They failed. It is their fault and everyone of the companies who have had to have a government bailout should fire their top management. Too bad the era of a Lee Iacocca has gone. These bozos we have now are only concerned with their personal wealth, it should be a crime. The sole responsibility for the CEO's is to run their company profitably, responsibility and legally. They failed.