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U.S. auto bailout talks collapse

unions!

http://www.wheels.ca/reviews/article/485635

solidarity!!!!

I haven't been following this in great detail, so correct me if I'm wrong...

So they're saying that if the autoworkers take a pay cut, the government will bail the Big 3 out, and the union is refusing?

Seriously? Have fun getting paid as much as you do, b/c it sure won't be for long.

UNIONNNNS

That article must mean all encompassing costs to employ someone, as the wages paid by GM/Chrysler/Ford are higher than that of Toyota, at least?

The Toyota plant here in town pays $25-28/hr...

quote:

Originally posted by VERTiG0 UNIONNNNS That article must mean all encompassing costs to employ someone, as the wages paid by GM/Chrysler/Ford are higher than that of Toyota, at least? The Toyota plant here in town pays $25-28/hr...

I got paid $30-35/hr working midnights at Chrysler. $45-50 on Friday nights. So roughly the same.

$25/bbl oil, here we come.

Oh yeah, and thousands of job losses.

quote:

Originally posted by *~LiSa-LoO~* I got paid $30-35/hr working midnights at Chrysler. $45-50 on Friday nights. So roughly the same.

Roughly the same?!? (vs. max $30 at Japanese facilities)

$5/hour = $10k/ year (40 hour week).

What is killing the NA automakers (besides pay difference) is the benefit/healthcare/pension contract requirements. NA automakers have to pay $100 billion over the next 10 years or so into a union managed healthcare/pension fund (something the non-union shops are not required to do).

Until the NA automakers get their labor cost centers in line there is no point in throwing taxpayer money at them.

quote:

Originally posted by rabbitjoker Roughly the same?!? $5/hour = $10k/ year (40 hour week).

Ok I didn't do the math.

Edit...however I also assume Cale is talking about daytime employees, who got paid slightly less than I did, since I got paid more for working midnights. So it could still be roughly the same.

quote:

A plan offered by Tennessee Republican Senator Bob Corker, which served as a basis for a possible compromise yesterday, would have required automakers to offer bondholders 30 cents on the dollar. Automakers would also have had to persuade the United Auto Workers to take half of the $23 billion it�s owed for health care as GM stock instead, and eliminate a program in which UAW workers are paid not to work if there are no tasks for them. �We were about three words away from a deal,� Corker said.

http://www.bloomberg.com/apps/news?...id=affRpCkeakcQ

On the drive to work while hearing 680 news I think I heard something along the lines of that if the Oshawa plant workers do a complete pay cut for the next whole year it will keep GM open for only 11 days

quote:

Originally posted by rabbitjoker Roughly the same?!? (vs. max $30 at Japanese facilities) $5/hour = $10k/ year (40 hour week). What is killing the NA automakers (besides pay difference) is the benefit/healthcare/pension contract requirements. NA automakers have to pay $100 billion over the next 10 years or so into a union managed healthcare/pension fund (something the non-union shops are not required to do). Until the NA automakers get their labor cost centers in line there is no point in throwing taxpayer money at them.

+1

I read somewhere that wages of the employees roughly equate to 6-7% of the total expense to make a car. But that is purely wages.

The biggest factors is all the benefits as in healthcare/pension like you mentioned.

The actual wages is just a small percentage of the actual cost.