Retirees and pensions fuel GM's downfall

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Old 14 Jun 2009, 10:34 pm   #1 (permalink)
Fat Moe
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Default Retirees and pensions fuel GM's downfall

GM had about 240,000 workers the day it filed for bankruptcy but had
responsibility for the health care of more than 1 million people and
owed pensions to more than 650,000. Even with GM's very real product and
work-rule strides of recent years, these obligations made bankruptcy
inevitable.
http://www.detnews.com/article/20090...ON01/906120334
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Old 15 Jun 2009, 05:21 am   #2 (permalink)
edspyhill01
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Default Re: Retirees and pensions fuel GM's downfall

On Jun 14, 11:34*pm, Fat Moe <Fat...@BubbleWorld.Com> wrote:
> GM had about 240,000 workers the day it filed for bankruptcy but had
> responsibility for the health care of more than 1 million people and
> owed pensions to more than 650,000. Even with GM's very real product and
> work-rule strides of recent years, these obligations made bankruptcy
> inevitable.http://www.detnews.com/article/20090...ON01/906120334


Something similar will be the cause of many states going bankrupt or
becoming insolvent. The causes will be sweetheart pension deals with
medical benefits for state and local government workers and teachers.
Nobody should be able to retire until 62; pensions should be phased
out and substituted with worker-defined 401Ks; companies should not
have to provide medical benefits to any worker, including any
management level.

Ed S.
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Old 15 Jun 2009, 05:42 am   #3 (permalink)
Scott in Florida
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Default Re: Retirees and pensions fuel GM's downfall

On Mon, 15 Jun 2009 03:21:18 -0700 (PDT), edspyhill01
<edspyhill01@gmail.com> wrote:

>On Jun 14, 11:34*pm, Fat Moe <Fat...@BubbleWorld.Com> wrote:
>> GM had about 240,000 workers the day it filed for bankruptcy but had
>> responsibility for the health care of more than 1 million people and
>> owed pensions to more than 650,000. Even with GM's very real product and
>> work-rule strides of recent years, these obligations made bankruptcy
>> inevitable.http://www.detnews.com/article/20090...ON01/906120334

>
>Something similar will be the cause of many states going bankrupt or
>becoming insolvent. The causes will be sweetheart pension deals with
>medical benefits for state and local government workers and teachers.
>Nobody should be able to retire until 62; pensions should be phased
>out and substituted with worker-defined 401Ks; companies should not
>have to provide medical benefits to any worker, including any
>management level.
>
>Ed S.


KAAABOOM.....

I agree with Ed...

the world is coming to an end...


--

Scott in Florida
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Old 15 Jun 2009, 06:25 am   #4 (permalink)
Fat Moe
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Default Re: Retirees and pensions fuel GM's downfall

Scott in Florida wrote:
> On Mon, 15 Jun 2009 03:21:18 -0700 (PDT), edspyhill01
> <edspyhill01@gmail.com> wrote:
>
>> On Jun 14, 11:34 pm, Fat Moe <Fat...@BubbleWorld.Com> wrote:
>>> GM had about 240,000 workers the day it filed for bankruptcy but had
>>> responsibility for the health care of more than 1 million people and
>>> owed pensions to more than 650,000. Even with GM's very real product and
>>> work-rule strides of recent years, these obligations made bankruptcy
>>> inevitable.http://www.detnews.com/article/20090...ON01/906120334

>> Something similar will be the cause of many states going bankrupt or
>> becoming insolvent. The causes will be sweetheart pension deals with
>> medical benefits for state and local government workers and teachers.
>> Nobody should be able to retire until 62; pensions should be phased
>> out and substituted with worker-defined 401Ks; companies should not
>> have to provide medical benefits to any worker, including any
>> management level.
>>
>> Ed S.

>
> KAAABOOM.....
>
> I agree with Ed...
>
> the world is coming to an end...
>
>


Seems to me they ought to give cigarettes to retirees.
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Old 15 Jun 2009, 07:05 am   #5 (permalink)
dbu'
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Default Re: Retirees and pensions fuel GM's downfall

In article
<358efbaf-6acc-476a-b929-f9445073f524@d25g2000prn.googlegroups.com>,
edspyhill01 <edspyhill01@gmail.com> wrote:

> On Jun 14, 11:34*pm, Fat Moe <Fat...@BubbleWorld.Com> wrote:
> > GM had about 240,000 workers the day it filed for bankruptcy but had
> > responsibility for the health care of more than 1 million people and
> > owed pensions to more than 650,000. Even with GM's very real product and
> > work-rule strides of recent years, these obligations made bankruptcy
> > inevitable.http://www.detnews.com/article/20090...ON01/906120334

>
> Something similar will be the cause of many states going bankrupt or
> becoming insolvent. The causes will be sweetheart pension deals with
> medical benefits for state and local government workers and teachers.
> Nobody should be able to retire until 62; pensions should be phased
> out and substituted with worker-defined 401Ks; companies should not
> have to provide medical benefits to any worker, including any
> management level.
>
> Ed S.


The democrats sucked us into this trap, now you say it shouldn't be.
You vote for democrats??? Something wrong with this picture eddie.
--


"Holy Cow!!"

Earl Gillespie
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Old 15 Jun 2009, 07:07 am   #6 (permalink)
dbu'
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Default Re: Retirees and pensions fuel GM's downfall

In article <4a35c130$0$23751$bbae4d71@news.suddenlink.net>,
Fat Moe <FatMoe@BubbleWorld.Com> wrote:

> GM had about 240,000 workers the day it filed for bankruptcy but had
> responsibility for the health care of more than 1 million people and
> owed pensions to more than 650,000. Even with GM's very real product and
> work-rule strides of recent years, these obligations made bankruptcy
> inevitable.
> http://www.detnews.com/article/20090...ON01/906120334


So who shall we place the blame onto? Unions who demanded or big shot
corporations who caved in to the demands?
--


"Holy Cow!!"

Earl Gillespie
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Old 15 Jun 2009, 07:18 am   #7 (permalink)
edspyhill01
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Default Re: Retirees and pensions fuel GM's downfall

On Jun 15, 7:25*am, Fat Moe <Fat...@BubbleWorld.Com> wrote:
> Scott in Florida wrote:
> > On Mon, 15 Jun 2009 03:21:18 -0700 (PDT), edspyhill01
> > <edspyhil...@gmail.com> wrote:

>
> >> On Jun 14, 11:34 pm, Fat Moe <Fat...@BubbleWorld.Com> wrote:
> >>> GM had about 240,000 workers the day it filed for bankruptcy but had
> >>> responsibility for the health care of more than 1 million people and
> >>> owed pensions to more than 650,000. Even with GM's very real product and
> >>> work-rule strides of recent years, these obligations made bankruptcy
> >>> inevitable.http://www.detnews.com/article/20090...ON01/906120334
> >> Something similar will be the cause of many states going bankrupt or
> >> becoming insolvent. *The causes will be sweetheart pension deals with
> >> medical benefits for state and local government workers and teachers.
> >> Nobody should be able to retire until 62; pensions should be phased
> >> out and substituted with worker-defined 401Ks; companies should not
> >> have to provide medical benefits to any worker, including any
> >> management level.

>
> >> Ed S.

>
> > KAAABOOM.....

>
> > I agree with Ed...

>
> > the world is coming to an end...

>
> Seems to me they ought to give cigarettes to retirees.- Hide quoted text -
>
> - Show quoted text -


Make them exercise. ;-)
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Old 15 Jun 2009, 08:00 am   #8 (permalink)
Fat Moe
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Default Re: Retirees and pensions fuel GM's downfall

dbu' wrote:
> In article <4a35c130$0$23751$bbae4d71@news.suddenlink.net>,
> Fat Moe <FatMoe@BubbleWorld.Com> wrote:
>
>> GM had about 240,000 workers the day it filed for bankruptcy but had
>> responsibility for the health care of more than 1 million people and
>> owed pensions to more than 650,000. Even with GM's very real product and
>> work-rule strides of recent years, these obligations made bankruptcy
>> inevitable.
>> http://www.detnews.com/article/20090...ON01/906120334

>
> So who shall we place the blame onto? Unions who demanded or big shot
> corporations who caved in to the demands?


In this case the unions. They would strike only one of the big three
at a time. The other two kept building and selling cars so the one with
the strike would have to meet their demands which set the standard for
the other two. They did this for years as their contracts expired, it
gave the unions an advantage and it worked until foreign car
manufactures started building union free plants in the south. For
years Americans paid exorbitant prices for basic transportation because
of excessive union greed.
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Old 15 Jun 2009, 09:19 am   #9 (permalink)
tak
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Default Re: Retirees and pensions fuel GM's downfall


"edspyhill01" <edspyhill01@gmail.com> wrote in message
news:c291b069-f171-4b6f-a00c-137c6d06d519@c19g2000prh.googlegroups.com...
On Jun 15, 7:25 am, Fat Moe <Fat...@BubbleWorld.Com> wrote:
> Scott in Florida wrote:
> > On Mon, 15 Jun 2009 03:21:18 -0700 (PDT), edspyhill01
> > <edspyhil...@gmail.com> wrote:

>
> >> On Jun 14, 11:34 pm, Fat Moe <Fat...@BubbleWorld.Com> wrote:
> >>> GM had about 240,000 workers the day it filed for bankruptcy but had
> >>> responsibility for the health care of more than 1 million people and
> >>> owed pensions to more than 650,000. Even with GM's very real product
> >>> and
> >>> work-rule strides of recent years, these obligations made bankruptcy
> >>> inevitable.http://www.detnews.com/article/20090...ON01/906120334
> >> Something similar will be the cause of many states going bankrupt or
> >> becoming insolvent. The causes will be sweetheart pension deals with
> >> medical benefits for state and local government workers and teachers.
> >> Nobody should be able to retire until 62; pensions should be phased
> >> out and substituted with worker-defined 401Ks; companies should not
> >> have to provide medical benefits to any worker, including any
> >> management level.

>
> >> Ed S.

>
> > KAAABOOM.....

>
> > I agree with Ed...

>
> > the world is coming to an end...

>
> Seems to me they ought to give cigarettes to retirees.- Hide quoted text -
>
> - Show quoted text -


>Make them exercise. ;-)


And bring back transfat ;-)


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Old 15 Jun 2009, 09:55 am   #10 (permalink)
Fat Moe
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Default Re: Retirees and pensions fuel GM's downfall

Ralph Mowery wrote:
> "Fat Moe" <FatMoe@BubbleWorld.Com> wrote in message news:4a3645ce$0$23738>
> In this case the unions. They would strike only one of the big three
>> at a time. The other two kept building and selling cars so the one with
>> the strike would have to meet their demands which set the standard for the
>> other two. They did this for years as their contracts expired, it gave
>> the unions an advantage and it worked until foreign car manufactures
>> started building union free plants in the south. For years Americans
>> paid exorbitant prices for basic transportation because of excessive union
>> greed.

>
> When the CEO of a company is making millions a year, it is hard to justify
> to the workers (uniion) the company can not afford something.
>
> Look at the government workers and congress. They get a big retirement and
> health care package. Why shouldn't the workers that put them there get the
> same ?
>
>
>


Maybe they should maybe they shouldn't but what really matters is
what is and what will be. The unions were like milk cows, content and
happy milk cows. Now the farmer due to markets conditions needs some
money and it's slaughter time. You think the farmer is going to go
without?
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