General Motors is DONE!!!!
- Thread starter jcardona1
- Start date
loss of a company like gm would have much farther reaching effects than the union workers. there are many parts that are made for these vehicles, by people that do not work for gm, but a supplier and those people would be out too. we are talking about a lot of people that are'nt covered under the union contracts everyone is complaining about. this is a management problem, not a union problem. the workers built what they were told to build, they don't have golden parachutes for when their plants close. trust me they want to work.
saltydog_1;2398935; said:
The union workers don't have golden parachutes, they were working under golden parachutes for quite some time. The management of the company failed to produce attractive vehicles, but aesthetics aside, they failed to produce quality vehicles because they couldn't afford to. The CEO's of the company make a lot of money, but if they gave every dime back it wouldn't save the company.
not saying it would save the company at all. i'm saying the ceos look for big profits. research and development should have been done when gas was cheap, but that cuts into profit and trucks and other gas guzzlers were selling like hot cakes. now when things are tough they are behind. the ceos if terminated will get massive compensation packages, the workers will not. granted they will do better than most employees losing their jobs, but all of that money would'nt save a company of this size either. lack of foresight is the problem and that comes from the top. as i said earlier the people just want to work and management has'nt given them anything to build that will sell. gm was profitable despite the unions when they put out vehicles that sold.
Unions DO have an impact on this situation. Higher wages mean higher costs, which usually means higher prices, or the trade off of quality to offset that price. Unions are the devil. What ever happened to working for the pay offered, or go find another job? I know that's the choice I have. All domestic automakers have brought this on by being terrible at what they do. Their quality is substandard, prices are higher than foreign cars of higher quality, they apparently have designers with one eye and a wooden leg (aesthetics are disgusting), and they have noone that can come up with anything creative (instead they wait until someone else comes up with something, then they mimic it). There has been word of Toyota buying in to GM (rumor, just a rumor).
Nic;2397825; said:
there will never be a another great depression Nic because of the the coverage of banking accounts up to 100k, all of the problems have to do with the consumer and the lenders. A) the consumers because they took low variable loans and turned into killer int. rates and they bought houses that were way out of there price range and the lenders faults for giving so many bad loans out, kinda weird how people blamed this on the president as he really had no hand in it because he has no control of the Fed reserve. The economy occurs in cycles and presidents get credited or discredited when really it was no their doing
if the car industry tanks their is no doubt the economy will be hurting more than it did and unepmployment will rise,
deffinitely never going to get close to the great depression though, 25% unemployment back then only 6-7% right now
the stock market is doing awful right now though, overall i have lost alot. It will bounce back though . If you got the money to invest, setting your self up for a nice turnaround///
