GM to offer buyouts to ALL hourly employees
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GM to offer buyouts to ALL hourly employees

  1. #1
    RvRrat
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    Default GM to offer buyouts to ALL hourly employees

    Youza. Not sure if this is good or bad for GM and my stock.

    http://news.yahoo.com/s/ap/20090203/...motors_buyouts

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  3. #2
    Wet
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    How much worse can that stock get?

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    Quote Originally Posted by Wet Dream View Post
    How much worse can that stock get?
    Its around $3 now and it can go to pennies. XMSR did that

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    What a great use of all our tax money.......BAILOUTS DO NOT WORK............

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    20K and a 25K car voucher...

    I'd take sh*t and run.

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    It could be a good thing...
    If those who except have anything left in their retirement. Not a bad idea to buy out the ones who are eligible for retirement, rather than putting the 35yr old with 2 kids, a stay at home mom and a mortgage payment in the unemployment line.

  8. #7
    RvRrat
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    Basic business 101

    If you're sinking, unload the labor. Payroll is usually the biggest expense and the quickest was to cut costs. Hopefully it isn't too late for GM. Sad for those who may lose their jobs, but the alternative is to take down GM. I'm guessing tons of people will leave.

    If our gov't & States knew this basic rule, we wouldn't be in this hole. But instead what does the gov't do? hire more people and spend more money. Makes total sense...if you're an idiot.

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    Quote Originally Posted by RvRrat View Post
    Basic business 101

    If you're sinking, unload the labor. Payroll is usually the biggest expense and the quickest was to cut costs. Hopefully it isn't too late for GM. Sad for those who may lose their jobs, but the alternative is to take down GM. I'm guessing tons of people will leave.

    If our gov't & States knew this basic rule, we wouldn't be in this hole. But instead what does the gov't do? hire more people and spend more money. Makes total sense...if you're an idiot.

    Perfect! LOL!

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    I'm famous ! Lucky's Avatar
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    Quote Originally Posted by rIVERtRASH View Post
    It could be a good thing...
    If those who except have anything left in their retirement. Not a bad idea to buy out the ones who are eligible for retirement, rather than putting the 35yr old with 2 kids, a stay at home mom and a mortgage payment in the unemployment line.
    Veiw it as a bribe to quit the union and come back to work at a lower wage - Their is no retirement lol . G.m is cutting the fat and its costing them money !
    " my carbon footprint is gonna kick your green ass"


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    Quote Originally Posted by Lucky View Post
    Veiw it as a bribe to quit the union and come back to work at a lower wage - Their is no retirement lol . G.m is cutting the fat and its costing them money !
    I dont think many of their employess are in a postion to retire at this point. $20k and a new car isnt going to help either.

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    Quote Originally Posted by rIVERtRASH View Post
    I dont think many of their employess are in a postion to retire at this point. $20k and a new car isnt going to help either.
    Thats what i am saying they will take the money the car and come back to work in JUNE doing the same thing that they where - at less pay ( a fair wage) my .002
    " my carbon footprint is gonna kick your green ass"


    Quote Originally Posted by 396_Ways_To_Spit View Post
    WOWO!!!!! THat has to be the most beautiful crank that Ive ever seen!!!!!!!!!!!!!!!!


    Quote Originally Posted by MAXIMUS View Post
    He has been allowing me to park my equipment in his backyard for a few years now...
    [/SIGPIC]

  13. #12
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    Quote Originally Posted by Lucky View Post
    Thats what i am saying they will take the money the car and come back to work in JUNE doing the same thing that they where - at less pay ( a fair wage) my .002
    I doubt Gm would hire them back...

    The jobs would be open to unexperianced applicants.

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    Most likely they will be on gov't assistance programs........That way we all get to pay them twice..........Once with the money sourced from the bailout and then again with unemployment programs.

  15. #14
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    Nothing new here. The government money they got was intended for this very thing from the beginning. Also the approx. 22K employees being offered the package are "pension eligible" and the $20K is just an enhancement to move them out. It's far more economical to get these people off the clock asap as they are the highest scale in hourly labor costs. Probably among the least productive also.

    Current new hires have a completely different pension structure and hire in for less money. This is a planned and positive step towards getting stabilized.
    "Bottle by bottle, I'm clearing off that shelf...."

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