The world economy and the Canadian economy in general?

[Tenspot]

I've heard (and I might have not gotten it exact) that when an employee reaches 30 yrs of employment that they collect 80% of their full salary, and all health and other benefits remain being paid, fully. Then there is the company paid pension plan.
No wonder GM has gone down the tubes. They are not like the City of Nanaimo, where they give into the Unions (staying conflict free with the Unions), and the City just raises taxes to cover the shortfall. The big three go to the Government for bailouts.

[fitz]

Saw this and thought you guys would appreciate a laugh on the subject.



So funny, that it's not even funny!

[Trailblazer]

On the news last night they said an assembly line employee for GM makes $73/hr when you factor in the pension, benefits, etc...

The average assembly line worker makes about $65,000 per year ; roughly the same as a Pulpmill worker & less than many in the Alberta oil patch!
All too often the published auto workers compensation has been an average of both the management & staff.
Shitty management is what is killing the auto industry ; add to this the very high cost of healthcare in the USA.
It has been suggested that Canadian autoworkers could benefit form the US downturn as operating costs in Canada are lower! an interesting thought!!

[TH2008]

I've heard (and I might have not gotten it exact) that when an employee reaches 30 yrs of employment that they collect 80% of their full salary, and all health and other benefits remain being paid, fully. Then there is the company paid pension plan.
No wonder GM has gone down the tubes. They are not like the City of Nanaimo, where they give into the Unions (staying conflict free with the Unions), and the City just raises taxes to cover the shortfall. The big three go to the Government for bailouts.

This just in:

"Auto Bailout Bill Collapses in Senate Despite Intense Negotiations"

http://www.foxnews.com/politics/2008...-negotiations/

--
TH

[albertabluesky]

Bloodbath in the market today.....or perhaps there's no blood left? I'm glad it didn't pass....I don't like taxpayers bailing out companies that couldn't put some money away during one of the biggest economic booms in recent history...and you know the front line workers are the ones to get laid off, not the white collars upstairs who decided they needed to borrow all that money. I'd rather the gov't helped the people who do get laid off....

[fitz]

...and I wish that I could laugh in their faces for being denied the bailout.. but this ain't over. You just know it isn't. They'll get bailed out. This is just to appease us for now.

The true "white-collars" I've spoken to at a large office today can't see the other side of the picture, they're just (selfishly) worried about their portfolios. Classic.

[sustainibertarian]

The auto unions refused to take pay concessions, so as far as I'm concerned they've dug their own grave. Not to mention the bumbling of the executives and managers in making big SUV's, Hummers, and Trucks. Any assets left over that are worth anything will be purchased. It will likely hurt the economy in the short run; however, adjustment is an unpleasant, but necessary evil.

Same with the US economy in general. A recession may serve as an appropriate corrective mechanism to fix the fundamental disjunction between savings and consumption in the US, as a recession should reduce the marginal propensity to consume and increase the marginal propensity to save. Productivity can only deteriorate so far before the aberration is corrected.

[James Younger]

A friend of mine just bought a new small Toyota it does not even have 2000 km on the odometer and the car clunks on bumps. I know why my chopped 20 year old blazer clunks, because it has 350,000 km on it. New is not better. Four and a half year left to pay on the Toyota. I payed cash for my truck.

[BigMac]

One of the arguments made was that if the USA auto industry failed and the "BIG THREE" went under, there would be no more parts manufactured to repair and service the American made cars already on the road today. SHEEP SH*T!. The Asian manufacturers would pick up that slack and manufacture the parts at a fraction of the cost that the American manufacturers could do. In fact, they already are.

You are right. Go to Napa & by some of their parts. Then you will get at taste of Asian manufacturing. Ask any mechanic, they are crap. Any good mechanic will tell you they like to use factory parts. Seems everyone not in the business is an expert!!

[BigMac]

I think it is obvious that none of you work in the car industry or anything related to it . If you did, I think the tone might be a little different. Like Tom Harris said, hundreds of thousands spent in advertising etc. Where do you all work?. Will you be affected? Think about it people