Posted on 11/30/2018 12:46:27 PM PST by ZeroToHero
That’s what I was thinking about: using TARP money to repay TARP money that belonged to the taxpayers before the government took it.
I remember reading an article about this a few years ago. They said that GM spent more money on medical and pension plans than they spent on steel.
I hope they close every GM plant in the US. Move all production to China, then tax the hell out of GM imports - or better yet, ban them completely. GM vehicles are crap and have been crap for over 50 years.
Well I’m sure the UAW is very pleased with these developments. The UAW has succeeded in negotiating its members out of jobs. Unmitigated greed.
Good riddenance to bad rubbish.
The ironic part is that those selling cars that people want, instead of trying to sell cars they wish the public wanted, are doing great....like Trump told them, if your car ain’t selling, make one that will sell.....
“GM could have waited until after Christmas/New Years to announce.”
I worked in H.R. for many years, and kicking employees to the curb in December is a common practice. Not sure why (bottom line figures?), but it is cruel.
It is terrible to get laid off at anytime. Personally I would want to be notified before Xmas so I don't run up the credit cards buying gifts.
“I would want to be notified before Xmas so I don’t run up the credit cards buying gifts.”
There is that...
Here is some background on the plant. Looks like the Chevy Cruze lost market share to the Honda Civic and Nissan Sentra.
We knew for about a year that it was closing but that didn't really soften the blow. Many of those who were left, including myself, were high seniority and eligible for retirement pensions. Those who didn't meet the age requirement were still vested in the plan but had to wait until age 60.
Many of the skilled trades guys were able to find jobs around the metro Detroit area but it was hard due to the economy. The hourly production workers weren't so lucky. Most of them were in their late 40's and well into their 50's so their job searches were harder. Over the years I've run into a number of them who were able to find work with places like Home Depot or small manufacturing companies......
When people think of Detroit and the auto industry, they only see Ford, GM and Chrysler. What they don't see are the small background companies that keep the Big 3 supplied with small parts. Back in the days prior to the Carter inspired recession, Detroit and suburbs were filled with family owned small job shops that ultimately spawned skilled tradesmen such as die makers who if fortunate, were ultimately hired by companies such as mine or the Big 3. Almost all of those shops are gone now, most of whom never survived the recession.
The closing of the GM assembly plant in Hamtramck is not only going to impact those specific employees but the suppliers to that plant and all the other plants that are scheduled to close.
My worldwide corp cut a fair percentage of the MIS people a few days ago.
2 per site. Mr. nobody me escaped the cut but I’m not special. The network/phone/custom hardware guru and a very capable JDE developer got it. One with 24 years and the other not quite 2. Last day is first of the year. A paper shuffler in another department is gone too. She was a nice person that I supported every so often.
That leaves two developers who are pretty brilliant and me. I’m just a guy who took six classes in computer repair back in 99.
If anyone in the midlands of SC needing either one that I mentioned, let me know.
I think at least the guru has a line on something but not sure. The other I have no idea.
So sorry for your friends who’ll be gone. I hope that the line that “there are plenty of jobs out there” is true, and that they’ll be OK soon.
This kind of angst — always having to look over your shoulder and playing office politics — is something we don’t miss since retiring!
I expect more are coming and I don’t rule out anything.
Graveyards are full of indispensable people as a former VP of finance once said.
Half of what I do is simple stuff such as new user accounts, fix passwords, unlock accounts which anyone in global MIS can do. The language barriers might be a little tough for some.
The other half has seriously declined. No where near the equipment to support as of a couple years ago. There are plenty of service companies that do most of the hands on with basic knowledge. The right amount of money for a good SLA and I could get the talk and walk.
With the cuts that came down, I am cutting back on the push to get the jeeps and blazer roadworthy. They are going to need a lot of the pricey things.
The cc is a little over 1500 this month. A few things hit in real life. The brakes are on spending until way down or paid off.
I remember a video I watched showing a GM exec bragging about opening 11 plants in China.
Unreal, I hope Trump really sticks it up their ass.
It occurs to me that the greed of these execs got them bamboozled by China. (No, duh, right?) In order to do business there, they are required to turn over their ownership rights to their intellectual property, to China, so that if they leave, they can’t take any of that with them. Those companies would be sued into bankruptcy, or forced to pay royalties to China FOREVER, and I’m betting those royalties are steep enough to break them. Another devious Chinese puzzle. They must laugh themselves to sleep, while counting their money, every night.
Don't neglect repairs if it involves safety such as tires and brakes. I retired from IT a couple of years ago. I was sort of a jack of all trades guy without much IT formal schooling. I did go to a week long Apple repair school in the mid nineties and a MS Active directory class around 2000 or so. I was doing back office jobs when I retired, but really what keeps you employed is interacting with the front office people.
All of the oldies are project rides.
That old Willys jeep can barely stop or steer. Springs are whacked too from rust and age.
I hope next week to finally have all new ties and wheels on it.
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