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Rumor has it: GM Files for Bankruptcy

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Old 04-12-2009 | 09:57 PM
  #41  
MindDrive's Avatar
Senior Member
 
Joined: 10-09-2008
Posts: 105
From: Illinois
Originally Posted by Omnigear
useless union
get fire them and hire non unions = profit
takes to long to get **** done with a union
it takes to long you ask why?
contract worker comes in needed to fix a machinery
he is showned to the machinery but he needs to open the
electrical box , the guy with him cant open it because he is
not the electritian. he has to go find the guy and then
he is able to get access. Now he needs to open the and look
at the per say hydraulics oh the electritian cant do it because
he is not the mechanic; and so forth. How do you expect a
company to make money with that kinda time wasting production?

the union, guys just sit in there office and do nothing and drive expensive
cars while collecting money from the workers. Point is the union is corrupted and spoiled. Toyota is doing fine w/o a union.


Go ask toyota workers how long their expected length of "employment" is...

The whole reason an electrician doesnt mess with hydraulics is and should be quite obvious. I am in the union now, coming from a non union company. Why? I was one of 2 head mechanics in the shop and was only making 11 bucks an hour "11". I went and typed up a quite nice formal request for a raise after 2 years of dedicated employment, and for 3 weeks, I received the "look of death". In those 2 years, I fell off a piece of equipment which permanently damaged my shoulder... compensation- nothing. There was also a fire that broke out with another piece of equipment and the fire extinguisher had not been tested/examined in quite some time (found out after the fact) so when I went to use it, the nozzle expelled the dry chemical in my face- effect= I may have this chemical dust in my lungs for the rest of my life.

After the 3 weeks of silence after asking for a raise, I ended my employment there after over 2 years almost 3 years over 15 dollars an hour.

I dont think you understand that "safety" and "working conditions" and "compensation" are one of the prime reasons that unions are around anyway.

If you want to flame Unions, then start another thread. But look at yourself, the quality of the way you live, if you are completely satisfied with everything you have, the amount of money you have in the bank, your health care, your family, and if you go to work knowing that they "just cant get rid of you cause they want more money" then you are one of the select few non union people that are on the up and up.

Without Unions, everybody would be subject to working in sweat shop quality work environments, would have little to no health care, and pentions... whats a pention? America was organized on Unions, because corporations will and ultimately find any means necessary to save themselves a buck and that buck is going to come out of the workers pocket first before their own!
Old 04-12-2009 | 10:19 PM
  #42  
stephenm's Avatar
Senior Member
 
Joined: 07-29-2008
Posts: 727
From: Mass
Not true,
People have a choice of where they work. if a company doesnt pay they dont retain qualified workers.

Unions really suck, they charge you steep dues, dont negotiate for you, and chances are half the time they wont back you.

how do i know? i belong to one.
Our current raise proposal is 1% for our new contract.
Hell social security got a 5.8% raise this year, and state lawmakers got a 5% raise.



Originally Posted by MindDrive
Go ask toyota workers how long their expected length of "employment" is...

The whole reason an electrician doesnt mess with hydraulics is and should be quite obvious. I am in the union now, coming from a non union company. Why? I was one of 2 head mechanics in the shop and was only making 11 bucks an hour "11". I went and typed up a quite nice formal request for a raise after 2 years of dedicated employment, and for 3 weeks, I received the "look of death". In those 2 years, I fell off a piece of equipment which permanently damaged my shoulder... compensation- nothing. There was also a fire that broke out with another piece of equipment and the fire extinguisher had not been tested/examined in quite some time (found out after the fact) so when I went to use it, the nozzle expelled the dry chemical in my face- effect= I may have this chemical dust in my lungs for the rest of my life.

After the 3 weeks of silence after asking for a raise, I ended my employment there after over 2 years almost 3 years over 15 dollars an hour.

I dont think you understand that "safety" and "working conditions" and "compensation" are one of the prime reasons that unions are around anyway.

If you want to flame Unions, then start another thread. But look at yourself, the quality of the way you live, if you are completely satisfied with everything you have, the amount of money you have in the bank, your health care, your family, and if you go to work knowing that they "just cant get rid of you cause they want more money" then you are one of the select few non union people that are on the up and up.

Without Unions, everybody would be subject to working in sweat shop quality work environments, would have little to no health care, and pentions... whats a pention? America was organized on Unions, because corporations will and ultimately find any means necessary to save themselves a buck and that buck is going to come out of the workers pocket first before their own!
Old 04-12-2009 | 10:59 PM
  #43  
IgottaWoody's Avatar
Senior Member
 
Joined: 01-13-2008
Posts: 4,708
From: Washington State, where it rains
Its not union that practices safety,,its the company. There are agencies that would love to know about the things you said about. They would tear their butts upside down over such practices.And the insurance companies would rip up whatever was left over.So whose fault is it really? Those doing it or those allowing it to happen. I am with you on the pay thing..Ive seen that happen too often. But as also mentioned , there are other companies. You have choices.Sometimes one has to sacrifice something to get something, example..moving to another town/city/state. All unions do is make things more expensive for everybody else.That extra pay you MAY recieve has to come from somewhere, and thats in higher prices for the consumer. So WE the PEOPLE wind up paying for your union. Screw 200 to take care of one..how is that fair?? How many union companies do you know right now that are safe and secure? Just a look through history will show how many places were driven to the death because of them.How come the union is a dying breed? They broke the airlines..the steel foundries..and now the auto industry.They are grasping at straws to hang on,but will eventually fall. Why do companies go o ver seas? Cheaper labor..why? No unions.
I know union people that are paid extremely well to sit there for 8 hours and press one button,,,,when needed..why? Because its in the contract.When one person takes it upon himself to go above and beyond on the job what happens?? He gets repremanded and possibly fired if it happens again. And we won't even talk about the overtime scandel..............
Old 04-12-2009 | 11:26 PM
  #44  
VictorySpark08's Avatar
Senior Member
 
Joined: 06-29-2008
Posts: 839
From: Crystal Lake
Originally Posted by MindDrive
Go ask toyota workers how long their expected length of "employment" is...

The whole reason an electrician doesnt mess with hydraulics is and should be quite obvious. I am in the union now, coming from a non union company. Why? I was one of 2 head mechanics in the shop and was only making 11 bucks an hour "11". I went and typed up a quite nice formal request for a raise after 2 years of dedicated employment, and for 3 weeks, I received the "look of death". In those 2 years, I fell off a piece of equipment which permanently damaged my shoulder... compensation- nothing. There was also a fire that broke out with another piece of equipment and the fire extinguisher had not been tested/examined in quite some time (found out after the fact) so when I went to use it, the nozzle expelled the dry chemical in my face- effect= I may have this chemical dust in my lungs for the rest of my life.

After the 3 weeks of silence after asking for a raise, I ended my employment there after over 2 years almost 3 years over 15 dollars an hour.

I dont think you understand that "safety" and "working conditions" and "compensation" are one of the prime reasons that unions are around anyway.

If you want to flame Unions, then start another thread. But look at yourself, the quality of the way you live, if you are completely satisfied with everything you have, the amount of money you have in the bank, your health care, your family, and if you go to work knowing that they "just cant get rid of you cause they want more money" then you are one of the select few non union people that are on the up and up.

Without Unions, everybody would be subject to working in sweat shop quality work environments, would have little to no health care, and pentions... whats a pention? America was organized on Unions, because corporations will and ultimately find any means necessary to save themselves a buck and that buck is going to come out of the workers pocket first before their own!
Sounds more like a Crappy Company to deal with. UNION's have nothing to do with OSHA regulation's. Call OSHA if the Fire extinguisher doesn't work, or u get hurt at work and there is No coverage of lost time,pay etc. Union's have nothing to do with it. Again this isn't 1949 anymore. Union's were great back in the day to bring about law's/regulation's. Today there is no need for Union's for the most part due to those Law's/regulation's.
Old 04-13-2009 | 01:27 AM
  #45  
masterchief1112's Avatar
Senior Member
 
Joined: 06-04-2008
Posts: 1,882
From: Toledo, OH
i am a union worker now and before now i didnt like em. yeah i do believe they are asking too much but the benefits i get compared to the non union workers are a lot better. unions are great till they get out of hand.
Old 04-13-2009 | 02:27 AM
  #46  
gritsgresham's Avatar
Member
 
Joined: 03-14-2009
Posts: 38
From: Jonesville, Michigan
hey your wasting your breath. im with ya 100%. alot of people on hear dont like unions for what ever justifiable reason,stories,maybe bad experience, the news, whatever the case maybe and group people based on that decision. we are all trying to make a living. and i thought high school was over
Old 04-13-2009 | 08:31 AM
  #47  
catdaddy137's Avatar
Senior Member
 
Joined: 12-20-2008
Posts: 835
From: durham north carolina
same as personal bankruptcy???

if so then the creditors get zip. hopefully they won't pay whoever half way assembled many of the hhrs , like the water leaks on mine and many others. it would be nice if all were made in usa. gm has has made many exellent vehicles , they just need to tighten up a bit , get some , but not all new managment ,or probably less management and more americans jobs -the few that are left that are not scared to get their hands dirty and take pride in their work- , and most of all, quit crying and begging. asking uncle sam for $ was possibly the biggest mistake they ever made , except for the chevette.
Old 04-13-2009 | 08:54 AM
  #48  
ChevyMgr's Avatar
Founding Member
 
Joined: 11-23-2007
Posts: 8,210
From: Texas
Topic of this thread is NOT UNIONS. Please stay on topic "GM Bankruptcy" or at least a rumor of it.

If you want to post about unions go to this thread. Thanks.

https://www.chevyhhr.net/forums/lounge-10/caw-union-leaders-letter-apr-2009-pdf-22825/
Old 04-13-2009 | 09:26 AM
  #49  
trfindley's Avatar
Member
 
Joined: 04-10-2008
Posts: 89
From: Stone Mountain, GA
U.S. directs GM to plan for bankruptcy by June 1

http://sanfrancisco.bizjournals.com/...html?ana=yfcpc

I am regretfully posting this to warn people not to own any GM stock.

At some point in bankruptcy, the judge will declare the stock as no longer representing value in the company.
It will be delisted from the NYSE, and be worthless.
After GM emerges from bankruptcy, they will issue new stock with a new ticker symbol.

This is what happened with Delta Airlines.

Last edited by trfindley; 04-13-2009 at 09:28 AM. Reason: spelling
Old 04-13-2009 | 10:14 AM
  #50  
hyperv6's Avatar
Senior Member
 
Joined: 07-05-2008
Posts: 5,464
From: Akron Ohio
Originally Posted by trfindley
http://sanfrancisco.bizjournals.com/...html?ana=yfcpc

I am regretfully posting this to warn people not to own any GM stock.

At some point in bankruptcy, the judge will declare the stock as no longer representing value in the company.
It will be delisted from the NYSE, and be worthless.
After GM emerges from bankruptcy, they will issue new stock with a new ticker symbol.

This is what happened with Delta Airlines.
Before any great panic might want to see how they file first.



US directs GM to prep for bankruptcy filing-NY Times
Sun Apr 12, 2009 11:08pm EDT


WASHINGTON, April 12 (Reuters ) - The U.S. Treasury Department is directing General Motors (GM.N) to lay the groundwork for a bankruptcy filing by June 1, even though the automaker has publicly stated it could reorganize outside of court, The New York Times reported on Sunday.

GM is operating under emergency U.S. government loans. It has been told by the Obama administration's task force overseeing its bailout that it must cut costs and reduce its debts in order to continue to receive aid.

The White House-appointed autos task force has given GM 60 days to come up with a restructuring plan and it is trying to determine whether the automaker can be a viable company.

Quoting sources who had been briefed on the GM plans, the Times said the goal was to prepare for a fast "surgical" bankruptcy.

The newspaper said preparations are aimed at assuring a GM bankruptcy filing is ready if the company is unable to reach agreement with bondholders to exchange roughly $28 billion in debt into equity in GM and with the United Automobile Workers union.

A plan under consideration would create a new company that would buy the "good" assets of GM after the carmaker files for bankruptcy, the Times said.

Less desirable assets, including unwanted brands, factories and health care obligations, would be left in the old company, which could be liquidated over several years, according to the paper.

Treasury officials are examining one potential outcome in which the viable GM enters and exits bankruptcy protection in as little as two weeks, using $5 billion to $7 billion in federal financing, a person briefed on the matter told the Times.

The Times sources declined to be identified because they were not authorized to discuss the process. Both GM and Treasury Department officials declined to comment, the newspaper said.

Last week, GM's chief executive said the automaker wanted to restructure out of court, but also preparing for a bankruptcy filing.



I am not sure of the details yet but it may go the way of a 363. It may still be a risk but could be a controled risk if someone is willing.



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