Indy GM workers vote for concessions

General Motors is headed towards filing for bankruptcy on Monday following a reorganization made possible with the help of the United Auto Workers. Union workers in Indianapolis and across the country agreed to concessions.

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• GM
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• concessions

[Zooni2]

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

[petelegory]

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

[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!!

[ANGLEBOOT]

oh go on and keep flipping hamburgers little rat bastard.

[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.

[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

[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.

[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

[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.

[lenny380]

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