i saw on another report that delphi would ask employees to take a 50% cut in pay and reductions in health care benefits[&o], yea buddy this global economy is really starting to look promising, wonder what kind of bonuses will be handed out, and to who, after the "remarkable rebuilding" they will undergo[:@]
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John 3:16
things are more like right now than they've ever been
It is our attitude at the beginning of a difficult task which, more than anything else, will affect its successful outcome.
William James
i saw on another report that delphi would ask employees to take a 50% cut in pay and reductions in health care benefits[&o], yea buddy this global economy is really starting to look promising, wonder what kind of bonuses will be handed out, and to who, after the "remarkable rebuilding" they will undergo[:@]
Yeah for global economy!!!!! Buy more foreign cars, send more jobs away... YAY!!!!!! Afterall, I don't want my kids to be able to get jobs anyway. [:@]
Of course it's just speculation at this point but I've heard reports saying what employees remain will likely take up to a 70% pay cut, many many plants closed, and of course GM taking the blunt end of the stick to the eye in covering 11 billion in pension and benees, which they say could bankrupt GM. What? Bankrupt GM? You're right m.t., this global economy is really starting to look promising.
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We were made by God and for God, and until you figure that out, life isn't going to make sense.
If a nation expects to be ignorant and free, in a civilization, it expects what never was and what never will be.
It would be nice if America could close her borders and markets to the world and live happily ever after, but that's a fairy tale dream. A global economy is a fact of life and a lot of folks are going to be affected by it.
Time after time Americans have proven they will buy foreign goods and products over domestic if they are cheaper. So folks like Delphi and GM can either compete or go out of business completely. I don't think we'll see Delphi's UAW workers in the $10-12 per hour range, but I wouldn't rule out high teens. American workers are still the most productive in the world and are worth a premium wage on the world scale, but maybe not what they are used to.
Rest assured with GM's contract up for negotiation in 07, the UAW is already thinking ahead and wondering what kind of precedent this Delphi deal is going to set.
The buzz on Wall Street is that GM will be forced to sell all or a part of GMAC, its most profitable unit. By distancing GMAC from GM, GMAC may be able to lower borrowing costs and the sale will allow GM the cash to handle its Delphi pension liability.
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