GM is gettin its butt kicked
早晨好, 先生們!™ 粉腸+ 春袋
Joined: Jun 1999
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From: Toronto
Buddy of mine works for one of the big companies and it’s pure OT. Also chaos at time at the plant because the workers can do almost anything and the union will intervene. There was a huge brawl where one guy was nearly killed and both were not fired, only suspended! I’m told thievery is common, screwing around the test track and drinking heavily on the job.happen on a daily basis.
Push to shock!
Joined: Sep 2002
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From: Palo Alto, CA
Originally Posted by e3NiNe
it's not that they're not selling cars ... their unions are bleeding them dry.
pukimonster
Joined: Jun 2002
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From: Milwaukee, WI
Originally Posted by e3NiNe
if that's true ... in theory, they should be breaking even.
GM has alot of issues with their unions and workers.
GM has alot of issues with their unions and workers.
By REUTERS
DETROIT, Aug. 29 (Reuters) - General Motors lost an average of $1,227 for each vehicle in the first half of the year in North America, while its crosstown rival, the Ford Motor Company, lost $139, according to new research from Harbour Consulting.
Through the first six months of the year, Chrysler was the lone Detroit automaker to make a profit per vehicle, Ms. Felax said, adding that it averaged a meager $186.
By contrast, the three largest Japanese-owned automakers - Toyota, Honda and Nissan - all made well over $1,000 a vehicle in North America. Nissan's profit averaged $1,826 a vehicle; Toyota $1,488; and Honda $1,203 in the first half of their 2005 fiscal year, Ms. Felax said.
DETROIT, Aug. 29 (Reuters) - General Motors lost an average of $1,227 for each vehicle in the first half of the year in North America, while its crosstown rival, the Ford Motor Company, lost $139, according to new research from Harbour Consulting.
Through the first six months of the year, Chrysler was the lone Detroit automaker to make a profit per vehicle, Ms. Felax said, adding that it averaged a meager $186.
By contrast, the three largest Japanese-owned automakers - Toyota, Honda and Nissan - all made well over $1,000 a vehicle in North America. Nissan's profit averaged $1,826 a vehicle; Toyota $1,488; and Honda $1,203 in the first half of their 2005 fiscal year, Ms. Felax said.
pukimonster
Joined: Jun 2002
Posts: 9,967
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From: Milwaukee, WI
Originally Posted by Kestrel
It's both. GM is losing market share, and it would only be a matter of time before they went under. On the other hand, the UAW is a bunch of idiots who don't realize when they need to compromise to save the ship.
http://money.cnn.com/2005/10/17/news...00/gm_wagoner/
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From: Palo Alto, CA
Originally Posted by brtecson
The UAW and GM agreed on a new health care deal in October that shaves about $1b in healthcare costs over a year. There was compromise on the part of the union, but General Mexico needs to quit trying to sell SUVs to a country who in general cant afford them anymore, and start making a profit off of their passenger cars just like everybody else.
http://money.cnn.com/2005/10/17/news...00/gm_wagoner/
http://money.cnn.com/2005/10/17/news...00/gm_wagoner/
pukimonster
Joined: Jun 2002
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From: Milwaukee, WI
http://www.businessinsurance.com/cgi...pl?newsId=6710
It was ratified already. ^^There's a more recent article. I haven't heard anything about a $1b cushion either.
As for auto workers being overpaid, that start looong before the UAW came in. Henry Ford was paying people $5/8hrs when the average worker was making less than half of that. GM and Chrysler raised their wages as well, and the autoworkers have been paid very well since then.
It was ratified already. ^^There's a more recent article. I haven't heard anything about a $1b cushion either.
As for auto workers being overpaid, that start looong before the UAW came in. Henry Ford was paying people $5/8hrs when the average worker was making less than half of that. GM and Chrysler raised their wages as well, and the autoworkers have been paid very well since then.
VX Hatch with 431,500!
Joined: Sep 2005
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From: Missouri
Originally Posted by brtecson
I'm sorry, I was tired when I posted that. I meant below cost. Here's an article that reno96teg posted:
With that said, they do make up some of the money with their gmac financing company, but not enough. They lost $1.6b in the third quarter alone.
With that said, they do make up some of the money with their gmac financing company, but not enough. They lost $1.6b in the third quarter alone.