Indy GM workers vote for concessions

[petelegory]

So tell me why we bailed out the auto industry for them to declare bankruptcy?

[Zooni2]

@petelegory bankruptcy and a business going under are two different things.

[combatvetdoc]

I've ALWAYS owned either a GMC or Chevy truck because Ford are crap. But I've decided to say screw you to the unions and Obuma and from now on I'll buy foreign made. non union trucks and cars. Let em suck on it!!

[bigSSG]

UAW fucking ruined GM. You overpaid pieces of shit. I hope the japanese car companies destroy the big 3 and the UAW workers lose everything.

[ANGLEBOOT]

oh go on and keep flipping hamburgers little rat bastard.

[00966505873790]

Hello

Just imagine if Mr. Bush and his father before and Mr.Opama now stop spend the USA Money in the wars and start taking cares about USA future also, to the American people who paying the taxes

My quotations to those people if your government invests this thousand of millions used in the wars during 12 years ago until now in your economy

Do you think USA will have more bankruptcy?

THANK YOU

[lenny380]

Concessions? Sounds like they have a choice--NOT!

[ANGLEBOOT]

not as long as GM is building cars all over the world. gM as a US company car shut down the plants they have all around the world. In 3rd world countries where they pay $20 a day. Then sell the cars to the people in the US for $30.000.

Let the greedy bastards fall.

[ANGLEBOOT]

Obama was backed by the automakers. The automakers banked on Obama to have it to where they can have the autoworkers have to drop their pay.

ANY AUTOWORKER THAT VOTED FOR OBAMA DESERVES TO HAVE THEIR PAY DROPPED.

Really need GM to go under and not get another job from any other auto makers.

Every UAW member that voted to allow a pay cuts is a disgrace to all unions.

[manonthemount]

entitlements to union members past and present is the #1 cost on the income statements of these failing automakers.

its like S&M gone wrong. automakers and autoworkers have been in bed together, but the autoworkers kept asphyxiating until the automakers turned blue. the automakers didn't know the safety word, so the autoworkers kept strangling. it turns out the safety word is 'bankruptcy'.

the subsidized auto industry has, for decades, been welfare for low-skill labor

[ANGLEBOOT]

Sounds good but a bunch of B/S. Even with union automakers every car cost right $5000 to turn out. But yet they charge $30.000 per car. Plus 5 years of financing.

Last years $11 billion in profit, that's after cost and labor and they claim they are broke. That's called bullshit. The workers are but a small fraction of their cost. The greedy investers make 90% of the cost.

[manonthemount]

$5,000 is an optimistic estimate for direct materials alone. Consider direct labor and allocated fixed cost and you'd see vehicles cost significantly more. The Big 4 can't allocate future legacy costs in the period they occur due to difficulty in estimation. Before realizing that legacy costs skyrocketed, they burned through retained earnings.

If investors were receiving the dividends you claim, GM could raise capital. They can't.

You should look at their income statements. Accounting ftw

[ANGLEBOOT]

Work at GM plant in Arlington,Tx. I asked the plant manager what the total cost per unit(that's parts,labor,building cost{power,gas,ect...}.

He told me per unit cost was "$5000 per unit".

The price you see on the stick is what GM believe the value of the car "should be", not thentrue cost of the car.

Every dollar above the $5000 mark is profit.

[Minuteman9112012]

Looks like the Obama bailouts failed!

[Minuteman9112012]

Union creeps!!

Unions were born out the mob!

[dgallegos4201]

unions have destroyed GM and chrysler. GM should have been left out to dry last year instead of bailing them out. it obviously hasn't worked! none of the bailouts have worked?  none of the bailouts were designed to help or improve anything. when have the feds done anything right in regards to the economy? if you think we're at the bottom now, get ready to tank even lower in the near future. like obama said the other day in CA (double digit unemployment) "we ain't seen nothing yet!"

[njattack]

GM is finished, history. GM cuts it's own throat by not reinvesting in it's own country, the United States. It took the American peoples' money but then built plants in other countries. Jobs went to foreigners. Sorry, it doesn't work that way. Cars are designed & built 100% in the U.S.

GM said it does work that way. The American people responded by not buying GM products. Result: GM is bankrupt, finished like International Harvester.

You decide who won.

[beauzackosta]

Unions are destroying this country from within - just check out the SEIU. The UAW, govt workers, and the politicians are getting exactly what they deserve. Screw 'em!

[AlphaOrionis1]

this is a disaster for the working people of america.

[uanimale]

American cars are pretty good.

[SirFinklebottom]

too little too late.

unions destroyed this industry.

[AlphaOrionis1]

UNIONS MADE THIS COUNTRY, SHUT UP.

[SirFinklebottom]

Unions are criminal gangs, a sector of special interests in government that have created for themselves sanctioned violence and coercion against employers, and because of that they have made many industries uncompetitive.

It is not coincidental that every unionised industry in every country has ultimately gone to shit.

[megamaniac76]

God Bless the Auto Union what would we do without them?!?!

[jasonsadventure]

cars would come in a box labeled, "some assembly required"

[megamaniac76]

or maybe they would be hiring non-union workers and they wouldnt be filing for bankrupts.

[jasonsadventure]

no doubt bra, they definitely would be hiring non-union workers, but that alone isn't enough. when a car company makes shitty cars, problems result.

it's all cool to blame the unions and stuff, but like yo, 25 years ago if you had a union job, you could get married, buy a house, put your kids (like me) through college, have health care and not worry about retirement. the cars they made were the bomb and all was well.

but things changed & big companies don't do change well.

[megamaniac76]

I understand what your saying but the auto unions are out of control. Its not the same environment in the auto industry as it was 25 years ago. Toyota is the perfect example of what I'm trying to illustrate. They produce a good product thats very competitive in the market and the workers are well treated and well paid. In other words Auto Unions are obsolete.