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BANGKOK 27 May 2019 11:08
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Trump wants GM CEO 'to do something quickly' to reopen Ohio plant

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12 hours ago, Briggsy said:

I smell a Carrier situation. That didn't turn out too well.

Agree, and I wonder how many times dt has shut down his own business ventures and/or laid off staff and whether they were compensated correctly?

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1 hour ago, johnnykak said:

i just have to ask- why does the president of the usa insert himself in a private companies business? don't they have the right to do as they please? would interfering be the dreaded socialism?  sounds like southing the leader of Venezuela would say lol.

Well said, and I wonder how dt would react at being told something like this in regard to his own business matters?

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Posts with false information have been removed.   Continued posting unverified information with no source or explanation will result in a suspension.  

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Posted (edited)
8 hours ago, joecoolfrog said:

Thats right , you need the best person for the job , multiple bankruptcies on ones CV is a good pointer apparently. 

I know you meant that ironically, but it does play out that way sometimes.

(in the US at least)

 

Sometimes failure is part of the plan, a certain set of people find it to their personal advantage to set up a failure.  Not only in the corporate world but also geopolitics.  Hint: Donald Rumsfeld was not hired by the Cheney regime for his brilliance.

 

 

Edited by bendejo
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5 hours ago, johnnykak said:

i just have to ask- why does the president of the usa insert himself in a private companies business? don't they have the right to do as they please? would interfering be the dreaded socialism?  sounds like southing the leader of Venezuela would say lol.

Yeh but Trump is the bestest , cleverest person on earth , him getting involved is a boon for mankind😂

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Posted (edited)
1 hour ago, bendejo said:

I know you meant that ironically, but it does play out that way sometimes.

(in the US at least)

 

Sometimes failure is part of the plan, a certain set of people find it to their personal advantage to set up a failure.  Not only in the corporate world but also geopolitics.  Hint: Donald Rumsfeld was not hired by the Cheney regime for his brilliance.

 

 

 

Many people think Obamacare was set up to fail. The president and congress of the same party had only enough courage to kick the can down the road, and of course, reward their benefactors.

Edited by lannarebirth
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18 hours ago, Tug said:

Seems to me they are trying to bust the union

 

Well for awhile it was the other way around. GM was paying Union laborers something like the equivalent of $75 an hour for being bolt monkeys. There is now way a guy who drives a bolt gun over and over and over doing one thing all day is worth that kind of money. 

 

Unfortunately the reality is if you do not have special skills all you can do is rent your time. 

 

Also as  others have said that factory was making a product nobody wants. GM had to cut this plant the car market is fiercely competitive. 

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3 hours ago, Cryingdick said:

 

Well for awhile it was the other way around. GM was paying Union laborers something like the equivalent of $75 an hour for being bolt monkeys. There is now way a guy who drives a bolt gun over and over and over doing one thing all day is worth that kind of money. 

 

Unfortunately the reality is if you do not have special skills all you can do is rent your time. 

 

Also as  others have said that factory was making a product nobody wants. GM had to cut this plant the car market is fiercely competitive. 

I don't believe it was 75 an hour, that would be way out of proportion.

But you're supporting the market here, not your beloved president. 

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Posted (edited)
4 minutes ago, stevenl said:

I don't believe it was 75 an hour, that would be way out of proportion.

But you're supporting the market here, not your beloved president. 

It is that after you include benefits like healthcare. Reciprocially matched mutual funds. That's the mutual part. The unions have largely put themselves out of business these days

 

Edited by Cryingdick
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i just have to ask- why does the president of the usa insert himself in a private companies business? don't they have the right to do as they please? would interfering be the dreaded socialism?  sounds like southing the leader of Venezuela would say lol.

GM is not a private company. It is a public company.


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18 minutes ago, Sealbash said:
12 hours ago, johnnykak said:
i just have to ask- why does the president of the usa insert himself in a private companies business? don't they have the right to do as they please? would interfering be the dreaded socialism?  sounds like southing the leader of Venezuela would say lol.


GM is not a private company. It is a public company.

The obvious point is that GM is not a government entity.....or do you need to have everything explained to you?

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1 hour ago, Cryingdick said:

It is that after you include benefits like healthcare. Reciprocially matched mutual funds. That's the mutual part. The unions have largely put themselves out of business these days

 

Oh no we can’t have a living wage nooooo omg and benefits oh noooo how can I keep the money for me oh nooooo what a pension oh nooooo they might live a nice life oh noooo

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22 hours ago, Scott said:

Posts with false information have been removed.   Continued posting unverified information with no source or explanation will result in a suspension.  

 

GM Bailout cost 12 Billion dollars.

 

Here's the source.

 

Through the Troubled Asset Relief Program the US Treasury invested a total $51 billion into the GM bankruptcy.[91] Until December 10, 2013, the U. S. Treasury recovered $39 billion from selling its GM stake. The final direct cost to the Treasury of the GM bailout was $11[92]-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally).[93] Local tax incentives amounted to $1.7 billion, most of them in Michigan.[94][95] A study by the Center for Automotive Research found that the GM bailout saved 1.2 million jobs and preserved $34.9 billion in tax revenue.[93]

 

https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization

 

 

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