Loan for the Big 3!! So happy!!

iVillage Member
Registered: 03-02-2007
Loan for the Big 3!! So happy!!
10
Fri, 12-19-2008 - 4:26pm
I am so glad that Bush finally stepped up today and gave the loans to Chrysler and GM.  My dh is a designer for the Big 3 and was recently laid off.  Its been so stressful especially with the holidays and having two kids but we are hanging in there.  I am hoping that now since they got loans that things will pick up so my husband can get back to work FT.  P&PTs that things will get better for us and anyone else who has lost their jobs. 



Dani-xmas.gif picture by MommyToParis05


preview image











     Photo Sharing and Video Hosting at Photobucket No_CIO.gif blinkie image by MommyToParis05     Photo Sharing and Video Hosting at Photobucket Photo Sharing and Video Hosting at Photobucket Photo Sharing and Video Hosting at Photobucket

0JJorganic.gif Organic Man image by MommyToParis05


Photo Sharing and Video Hosting at Photobucket   




...
Photobucket
iVillage Member
Registered: 07-05-2008
Wed, 01-07-2009 - 5:26am

I'm happy that the Detroit3 did get the loan, this economy has been bad for ALL the automakers.

iVillage Member
Registered: 03-02-2007
Sun, 12-28-2008 - 8:07pm

I understand what you are saying but my dh doesnt work directly for one of the Big 3, he does work for them all.

Photobucket
iVillage Member
Registered: 12-20-2007
Sun, 12-28-2008 - 11:43am

I don't mean to sound negative because I work for a parts supplier for GM and Ford, and I welcome any positive news from the Big 3.

But I'm not sure that the Big 3 are going to be willing or able to make the kind of changes that will be needed to keep them competitive. This "loan" is just going to prolong the inevitable. It will probably enable GM to keep paying pension benefits to their retired employees for a little while longer, but it won't allow them to suddenly create thousands of new jobs in the short term. No way.

The problem is that US auto union workers cost $71/hr compared to non-union workers at foreign plants who cost $49/hr. It's not so much the actual wage (which is only a few dollars more for UAW workers). It's the retirement benefits that are 5 times higher for UAW workers. Everyone in Michigan knows that once you get in the door at the UAW, you are literally set for life. Unless, of course, the Big 3 go bankrupt and no longer have to pay legacy costs to the army of retired autoworkers who are producing nothing for GM.

In my opinion, the only way to save the US auto industry is for the Big 3 to go bankrupt, clean the slate of all of their crippling union obligations, and start paying their employees what other companies are paying them for doing the same work.

What the big 3 and the unions are saying right now is, we want to continue paying our workers more than what other companies are paying theirs, AND we want the american taxpayer to make up the difference. I don't think that's a good long term solution.

I hope I didn't sound too harsh. I wish you and your husband the best. Your husband sounds like a non-union, skilled worker, so I'm sure he'll be able to find something in other industries or companies soon. But in all honesty, I don't think this "loan" is intended to help skilled people who can help themselves. And I don't think it's going to be enough to make GM suddenly competitive with Toyota.




Edited 12/28/2008 11:47 am ET by leashy1079
iVillage Member
Registered: 03-18-2004
Mon, 12-22-2008 - 12:31pm
Glad to hear three may be light at the end of the tunnel for DH. Heres to hoping the big three use the money wisely so we don't have a repeat
Photobucket
*
Follow me to the Unplanned Pregnancy board!Follow me to Hot Debates!Follow me to Abortion Debate!
Photobucket
Photobucket
*
iVillage Member
Registered: 03-02-2007
Sun, 12-21-2008 - 7:14pm
Ok Thanks I will def. let you know!



Dani-xmas.gif picture by MommyToParis05


preview image











Photobucket
iVillage Member
Registered: 03-02-2007
Sun, 12-21-2008 - 7:01pm
Oh wow thats quite the bummer.
Photobucket
iVillage Member
Registered: 03-31-2007
Sun, 12-21-2008 - 3:52pm
Wow!
iVillage Member
Registered: 08-09-2007
Sat, 12-20-2008 - 3:29pm
Hi Dani ~ ummmmm ... my hours got axed the day after I talked politics to my boss (??)

Northkountry          

iVillage Member
Registered: 03-02-2007
Fri, 12-19-2008 - 11:38pm
Yea little children are so easy to please.
Photobucket
iVillage Member
Registered: 08-09-2007
Fri, 12-19-2008 - 9:30pm
Hi Dani, new to the board but not to job problems ~ ya, they took their time to make the auto loan ... but I don't read the news much about the details.

Northkountry