Enough Already with the Bail Outs!! Seriously!
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Until they get bailed out, the congress shouldn't have any say in executive pay, but as soon as we the taxpayers start backing loans and bailouts, congress damn well better start demanding and enforcing limitations on executive compensation.
Not that they are doing anything like that for AIG but they REALLY should be...
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It is sickening because the money going to the executives in the US is money that might otherwise be helping keep the companies solvent.
Until they get bailed out, the congress shouldn't have any say in executive pay, but as soon as we the taxpayers start backing loans and bailouts, congress damn well better start demanding and enforcing limitations on executive compensation.
Not that they are doing anything like that for AIG but they REALLY should be...
Until they get bailed out, the congress shouldn't have any say in executive pay, but as soon as we the taxpayers start backing loans and bailouts, congress damn well better start demanding and enforcing limitations on executive compensation.
Not that they are doing anything like that for AIG but they REALLY should be...
it would not be thousands, it would be hundreds of thousands, and it wouldn't be just the automakers making cuts. their suppliers would have to cut back. those companies sub-suppliers would have to cut back.
look at GM as a pyramid, with them at the top. if they go under, every little company beneath them, and the layers get wider the further you go down the heirarchy, will be affected as well.
BTW - toyota employees are UAW as well. they're also hurting, but not on the level that the big three are. they didn't focus solely on large trucks and suv's, but they are feeling the effects as well.
look at GM as a pyramid, with them at the top. if they go under, every little company beneath them, and the layers get wider the further you go down the heirarchy, will be affected as well.
BTW - toyota employees are UAW as well. they're also hurting, but not on the level that the big three are. they didn't focus solely on large trucks and suv's, but they are feeling the effects as well.
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i think you guys are confusing "overhead rate" and "hourly wage". overhead rate is what the employee costs the company when all aspects of compensation are added up, not just the employee's hourly wage. that accounts for medical benefits, social security, retirement contributions, medicare, etc...
at my company, engineers are around $100 an hour overhead rate, unskilled labor is about $50 an hour overhead, and skilled labor (electrician, welder, etc.) is around $70~$80.
at my company, engineers are around $100 an hour overhead rate, unskilled labor is about $50 an hour overhead, and skilled labor (electrician, welder, etc.) is around $70~$80.
i think you guys are confusing "overhead rate" and "hourly wage". overhead rate is what the employee costs the company when all aspects of compensation are added up, not just the employee's hourly wage. that accounts for medical benefits, social security, retirement contributions, medicare, etc...
at my company, engineers are around $100 an hour overhead rate, unskilled labor is about $50 an hour overhead, and skilled labor (electrician, welder, etc.) is around $70~$80.
at my company, engineers are around $100 an hour overhead rate, unskilled labor is about $50 an hour overhead, and skilled labor (electrician, welder, etc.) is around $70~$80.
Still pretty damn high considering:
A) The job they are actually doing.
and
B) Where in the country most of these jobs actually area and the lower cost of living in those areas.
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BofA buys stake in PRC Bank.
We are soooo ****ed!!!
Bank of America Corp. (BAC) will almost double its stake in state-owned banking giant China Construction Bank Corp., and will control nearly 20% of China’s second-largest bank when the deal is finalized....
...Bank of America received $15 billion from the U.S. government as part of a $250 billion banking-sector rescue package – which itself was part of the much-ballyhooed $700 billion bailout fund that’s being used to prop up banks, mortgage firms, insurance companies
...Bank of America received $15 billion from the U.S. government as part of a $250 billion banking-sector rescue package – which itself was part of the much-ballyhooed $700 billion bailout fund that’s being used to prop up banks, mortgage firms, insurance companies
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Japan's auto industry is feeling their own pain BTW;
http://www.telegraph.co.uk/finance/n...its-Japan.html
http://www.telegraph.co.uk/finance/n...its-Japan.html
It might end up being a good move for them...
Then again, they could've lent that money to business and to people... Which is what I think the bailout was for right?
Keep bailing out crops, and they will just take advantage...
Japan's auto industry is feeling their own pain BTW;
http://www.telegraph.co.uk/finance/n...its-Japan.html
http://www.telegraph.co.uk/finance/n...its-Japan.html
But that's nothing like the situation the Big 3 are in.
Still sucky though
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You have to remember that the 27 dollar figure is what the average UAW worker makes in the US, not just Flint. BTW, the 5000+ UAW workers that work at the NUMMI plant are paid on average 32 dollars an hour.
http://www.thetruthaboutcars.com/num...ing-uaw-plant/
http://www.thetruthaboutcars.com/num...ing-uaw-plant/
Some NUMMI workers earn more than $32 per hour, plus benefits.
OctaVentiConPanna :
July 7th, 2007 at 7:41 am
At NUMMI, only workers in the “skilled trades” make $32/hr. They’re the ones who are the electricians, welders, etc. They’re more commonly known as “maintenance”. The majority of the workers who actually do the build on the production floor make $28/hr. at the top pay scale. They are increasing their use of temps who make $19/hr with 6 month contracts. The average wages have actually dropped due to their use of temps.
July 7th, 2007 at 7:41 am
At NUMMI, only workers in the “skilled trades” make $32/hr. They’re the ones who are the electricians, welders, etc. They’re more commonly known as “maintenance”. The majority of the workers who actually do the build on the production floor make $28/hr. at the top pay scale. They are increasing their use of temps who make $19/hr with 6 month contracts. The average wages have actually dropped due to their use of temps.
Last edited by Superglue WRX; Nov 20, 2008 at 04:50 PM.