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-   -   GM Doesn't have enough cash to make it through a few months (https://www.revscene.net/forums/552273-gm-doesnt-have-enough-cash-make-through-few-months.html)

jeffh 11-26-2008 04:21 PM

Quote:

Originally Posted by OffroadZuki (Post 6141496)
I'm all good thanks, I'm not in the car industry or any related industries, so I'm gonna laugh through this. What do you do again?

dispatch work orders for the largest Honda shop in the interior. im not to worried about my job other than how much busier and how much more $$ i will make when our dumestic friends go under

my problem with your whole silly little rant was how you plan to punish the dealers for the parent companys issues. dealers dont pay factory workers too much, dealers dont produce a shite product, and they certanly dont make 160k a year on average even with benefits.

that and sugesting that anyone could survive in a decent sized city in western canada making less than 40k a year is kinda silly.

Great68 11-26-2008 04:41 PM

If they're going to cut the wage of the average worker, then management and other white-collars need their wages cut too.

jeffh 11-26-2008 04:46 PM

the 27million number that everyone tosses around that the CEO of GM got last year, was mostly stock options, since their stock is very close to Zero at this point, it would be interesting to see how much he actually got in real $$ terms

Black SC2 11-26-2008 06:05 PM

It looks to me, from reading the info here, that the workers don't necessarily make more money, it's just the benefits packages that add huge cost to the payroll. So from what I can see, the average assembly line worker isn't taking home more than $150k per year. Cutting their wages in half won't solve the problem either. Cutting back on benefits, however, seems to me like it would have a greater effect on the bottom line for GM. Or am I crazy?

sixthgear 11-26-2008 06:46 PM

Quote:

Originally Posted by Black SC2 (Post 6143189)
It looks to me, from reading the info here, that the workers don't necessarily make more money, it's just the benefits packages that add huge cost to the payroll. So from what I can see, the average assembly line worker isn't taking home more than $150k per year. Cutting their wages in half won't solve the problem either. Cutting back on benefits, however, seems to me like it would have a greater effect on the bottom line for GM. Or am I crazy?

Cutting their "real" wage in 1/2 won't do as much unless they can deal with all the extras that are being added. They have to bring in their benefits inline with the market if they want to be competitive.

dustinb 11-26-2008 06:51 PM

Well GM signed a big contract with the workers union last year or so to do that exact thing. Cut back on benefits / health etc, buyout a bunch of workers and hire new ones at half price. The problem is that it doesn't go into effect until 2010. Sort of a year too late.

OffroadZuki 11-26-2008 10:15 PM

Quote:

Originally Posted by jeffh (Post 6143023)
dispatch work orders for the largest Honda shop in the interior. im not to worried about my job other than how much busier and how much more $$ i will make when our dumestic friends go under

my problem with your whole silly little rant was how you plan to punish the dealers for the parent companys issues. dealers dont pay factory workers too much, dealers dont produce a shite product, and they certanly dont make 160k a year on average even with benefits.

that and sugesting that anyone could survive in a decent sized city in western canada making less than 40k a year is kinda silly.

You feel sorry for me and you work in the car business? Haha...too cute.

I know PLENTY of ppl who survive on less than 40K/yr in western Canada...in bigger and better cities than Kelowna. To think that you can't scrape by on 40k/yr if you really had to is silly.

I don't care that it's not the dealers providing shit cars...they're selling them and profiting from it...not to mention the stupid expensive parts/retarded labour...If GM cut costs ALL AROUND including the rip-off fests that stealerships are, they'd be a lot better off...

OffroadZuki 11-26-2008 10:16 PM

Quote:

Originally Posted by Great68 (Post 6143074)
If they're going to cut the wage of the average worker, then management and other white-collars need their wages cut too.

couldn't agree with you more...

OffroadZuki 11-26-2008 10:36 PM

Quote:

Originally Posted by Black SC2 (Post 6143189)
It looks to me, from reading the info here, that the workers don't necessarily make more money, it's just the benefits packages that add huge cost to the payroll. So from what I can see, the average assembly line worker isn't taking home more than $150k per year. Cutting their wages in half won't solve the problem either. Cutting back on benefits, however, seems to me like it would have a greater effect on the bottom line for GM. Or am I crazy?

no you're not crazy. I meant wages/benefits package, but got lazy with the typing haha

CivicTypeRice 11-26-2008 11:04 PM

Is GM done, or will the still be producing new models?

Avery 11-26-2008 11:48 PM

i heard that theirs 1000 new cts-v's sitting in a warehouse without seats as recaro wont give them to GM unless they pay upfront

jeffh 11-26-2008 11:56 PM

Quote:

Originally Posted by OffroadZuki (Post 6143637)
You feel sorry for me and you work in the car business? Haha...too cute.

i work in the people buisness. no matter what goes down, people will always need skilled middle management, and will always pay well for it.
thats here nor there however

it is starting to look like the mesiah isnt going to let GM go under, and every other industry is starting to ask where their handout is, the state getting this involved in commerce scares me a little bit. the beginning of the end of free enterpise?

rental_metard 11-27-2008 02:49 AM

Quote:

Originally Posted by Great68 (Post 6143074)
If they're going to cut the wage of the average worker, then management and other white-collars need their wages cut too.


http://www.autoblog.com/2008/08/29/g...ollar-workers/

http://www.autoblog.com/2008/07/23/c...ollar-workers/

dustinb 11-27-2008 07:17 AM

Quote:

Originally Posted by jeffh (Post 6143831)
i work in the people buisness. no matter what goes down, people will always need skilled middle management, and will always pay well for it.
thats here nor there however

it is starting to look like the mesiah isnt going to let GM go under, and every other industry is starting to ask where their handout is, the state getting this involved in commerce scares me a little bit. the beginning of the end of free enterpise?

Where have you seen that they're going to get some cash? Everything I have read said they're not going to get anything that wasn't already planned years ago.

OffroadZuki 11-27-2008 08:27 AM

Quote:

Originally Posted by jeffh (Post 6143831)
i work in the people buisness. no matter what goes down, people will always need skilled middle management

"Welcome to Wal Mart, my name is Jeff...Welcome to Wal Mart, my name is Jeff..."

The fact that people will "always need skilled middle management" is bullshit. If that was true, RIM's stocks wouldn't be going down when the economy starts tanking.

hmmm...you really have to stop feeling sorry for me and start thinking about your future...

http://www.cbc.ca/money/story/2008/1...nce-board.html

"That economic storm could translate into another 15,000 job cuts in the assembly sector in 2009, Browarski said. And other spinoffs industries will chop their workforces as less manufacturing translates into lower demand for parts and car services."

Haha...after posting this, I went to CBC to check the news and stumbled across this about the world's largest steel maker:

http://www.cbc.ca/money/story/2008/1...l-layoffs.html

"The world's biggest steelmaker, whose holdings include Dofasco of Hamilton, said Thursday the focus of the downsizing "is primarily on non-production employees," particularly in selling, general and administrative functions."

That's gonna be a lot middle management people scrambling for the 2 jobs left over at the local Burger King.

OffroadZuki 11-27-2008 08:36 AM

looks like my crazy, out-of-touch-with-reality scheme of cutting GM top brass salaries by 70% wasn't so nuts afterall...

http://www.cbc.ca/money/story/2008/1...igsalargy.html

projectcivic 11-27-2008 01:18 PM

Quote:

Originally Posted by OffroadZuki (Post 6144226)
"Welcome to Wal Mart, my name is Jeff...Welcome to Wal Mart, my name is Jeff..."

The fact that people will "always need skilled middle management" is bullshit. If that was true, RIM's stocks wouldn't be going down when the economy starts tanking.

hmmm...you really have to stop feeling sorry for me and start thinking about your future...

.

I don't think he has to be too concerned. Ask anyone with any dealership experience and ask what department keeps the dealerships going, and if anyone tells you anything different then service and parts, they would be lying. The funny thing about times like this, people chose to fix and repair their current vehicle instead of buying a new car. Our dealership would be a great example, October generally a slower month, this year our service department had the biggest month in recent memory.
I won't deny that we may still see a slow down and we aren't oblivious to the recession but to "start thinking about your future" is little too chicken little for me, the sky isn't falling, cars are still being driven and are still being sold, and they all still need to be serviced or repaired.
Mind I don't think I would want to be at any of the Big 3 dealerships right now but I think we are ok at Honda, Toyota, etc.

OffroadZuki 11-27-2008 01:55 PM

You're right about that, James...*IF* this crash is short-term. If it's not...stealerships are hooped, parts dept and all.

Allow me to recycle a quote from my previous post:

"That economic storm could translate into another 15,000 job cuts in the assembly sector in 2009, Browarski said. And other spinoffs industries will chop their workforces as less manufacturing translates into lower demand for parts and car services."

You see, people will pay the dealership to fix old cars instead of replacing them if things only get a LITTLE ugly. If they get REALLY ugly, they'll be scavenging used parts, getting their buddies to fix it for beer, etc. There will be a lot more people making less money (right now, I have no problem taking my car in for an oil change if I'm lazy...when I was a broke college student, the $10 I saved by doing it myself was enough to make me freeze my ass off outside while doing it in the middle of winter) who will pinch pennies. There will also be a lot more people out of work and more than willing to do odd jobs for a few bucks cash.

You can't tell me that shop rates at $100 an hour and overpriced parts (especially when compared to getting a used one/cheap reproduction one from Lordco/NAPA) is the recipe for success in a prolonged economic downturn.

Great68 11-27-2008 05:59 PM

Quote:

Originally Posted by OffroadZuki (Post 6144575)

You can't tell me that shop rates at $100 an hour and overpriced parts (especially when compared to getting a used one/cheap reproduction one from Lordco/NAPA) is the recipe for success in a prolonged economic downturn.

OEM parts are higher quality than the Lordco/Napa brands and worth it.

Example:

1997 GMC Sonoma Pickup

OEM Catalytic Converter: $700
Napa Catalytic Converter: $250

OEM Converter lasts: 8-10 years
Napa Converter lasts: 2-3 years

Napa converter also has a bracket in an incorrect position, making installation difficult. I'll gladfully pay for the OEM part.

jeffh 11-27-2008 06:33 PM

Quote:

Originally Posted by OffroadZuki (Post 6144226)
"Welcome to Wal Mart, my name is Jeff...Welcome to Wal Mart, my name is Jeff..."

The fact that people will "always need skilled middle management" is bullshit. If that was true, RIM's stocks wouldn't be going down when the economy starts tanking.

hmmm...you really have to stop feeling sorry for me and start thinking about your future...

home owner in kelowna (before the prices went retarded)
decent dpsp for retirement already
solid paying job for 3.5 years running (that i actually enjoy)
savings in the bank
no debt outside my mortgage
marketable skill with management/retail/sales experience

i think ive got it about nailed down for being 22 thanks
any more BS you can PM me

this isnt about me being better than you however, this is about GM/ford/dodge failing at running a buisness. whoever ponies up the cash to save them, needs to fire the top 20 guys in the food chain, and get some azns in there to take care of it.

Black SC2 11-27-2008 07:55 PM

Quote:

Originally Posted by jeffh (Post 6145051)
and get some azns in there to take care of it.

And what, precisely, do you think some "azns" would accomplish? Would they be better than, say, the heads of the big three's European branches? You know, the guys who work with the brands, and manage to turn a profit? The odds of asian businessmen taking over Ford, GM, Chrysler etc. are about as good as me eating a 5 gallon bucket of Rosie O'Donnell's deep fried butt fur.

OffroadZuki 11-27-2008 08:14 PM

Quote:

Originally Posted by Great68 (Post 6144975)
OEM parts are higher quality than the Lordco/Napa brands and worth it.

Example:

1997 GMC Sonoma Pickup

OEM Catalytic Converter: $700
Napa Catalytic Converter: $250

OEM Converter lasts: 8-10 years
Napa Converter lasts: 2-3 years

Napa converter also has a bracket in an incorrect position, making installation difficult. I'll gladfully pay for the OEM part.

that's ONE part...by and large (and I've owned TWELVE vehicles so far), I get Lordco and am very happy with it.

Also...when you've just lost your job and your car needs a starter or an alternator or a fuel pump so you can drop resumes off you won't be thinking 5 years down the line. You'll be thinking this: From the difference between what GM/Honda/Ford/whatever sells that part for and what Lordco sells it for you'll be able to feed your kids for a month.

OffroadZuki 11-27-2008 08:17 PM

Quote:

Originally Posted by jeffh (Post 6145051)
home owner in kelowna (before the prices went retarded)
decent dpsp for retirement already
solid paying job for 3.5 years running (that i actually enjoy)
savings in the bank
no debt outside my mortgage
marketable skill with management/retail/sales experience

i think ive got it about nailed down for being 22 thanks
any more BS you can PM me

this isnt about me being better than you however, this is about GM/ford/dodge failing at running a buisness. whoever ponies up the cash to save them, needs to fire the top 20 guys in the food chain, and get some azns in there to take care of it.


you're not better than me, and the sooner you quit with the childish cheap shots the less of a chance of this thread ending up in FC. move on.

Sid Vicious 11-27-2008 08:31 PM

If GM goes under, sounds like Detroit is going to become even MORE crime infested...if that's possible

OffroadZuki 11-27-2008 08:33 PM

depends...in a way, crime is drawn to prosperity. (Look at Alberta...for years Calgary and Edmonton have been duking it out to see who would be Canada's murder capital).

A LOT of places blame economic prosperity for crimes going through the roof.


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