Greetings all, i am a long time lurker and rarely post
And I probably have a better perspective than most on the situation
I live in NE Indiana and our economy is dependent on the big three. I have been a manager in a UAW facility for 12 years and the last 10 years I have been an executive in a business where 80% of our work comes from the big three..
And yes i'm way concerned right now if i will have a job in six months.. It's ugly back here and not a lot of hope even with the bail outs...
Management and Labor in the Big Three are absolutely ridiculous and both bear the blame for the debacle...
Labor is greedy, lazy and self centered. Management is greedy, lazy and self centered.. Period
You go into an assembly or fab shop of Ford, GM and Chrysler and you will be disgusted by the lack of common sense..
Folks play cards and sleep for hours during their shift.. Happens every day and will happen on Monday. I've seen it for years and this is a fact..
Management watches and does nothing because of the "contract"
Management agreed to the contract and the same crap goes on with them.. Overloaded head count and very little real work being done..
They squeeze their efficiency and operating margins (in the past anyway
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) out of their suppliers.. Read the companies i've worked for.. Each year we have to figure out how to give back 3-5%. We've done this until we've outsourced and cut everyone else to the bone and the business is at risk..
The wages could be handled if there was efficiency and production and if all the legacy costs had been fully funded as they should have been in the fat years..
Management bears that responsibility, they paid in the minimums knowing full well it would come back to haunt them..
They are planning 100% to pass these legacy costs on to the PB & GC and restructure..
But they've pocketed a lot of cash and made themselves wealthy already..
The union has demanded sub pay: this means that if an employee is laid off they recieve 95% of their pay indefinitely.. I know folks who have literally been laid off for 5-7 years out of the last 20 and have loved it... Management was dumb enough to agree
again knowing full well this would come back to haunt them
well these chickens have come home to roost and us tax payers are going to pay the bill...
Congress will bail these Ba%^ards out and they will restructure and pass all the costs onto us...
And they will go back to getting rich.
I have to lean toward labors side even though they have a lot of guilt in this situation also
But I think they simply took advantage of what was there and who wouldn't...
If the big three would go under this country would end up in a major depression and who knows maybe social unrest and anarchy..
You all are insulated to a large degree in the west, but if you draw bracket from the PA, OH border to St Louis the effect in that region would be ungodly..
They are too big to fail and everyone knows it and there will be fortunes made on this bail out... When it is announced watch the ford and GM stock.. It's already moved up from the lows simply on the fact that these companies will have to be bailed out...
sorry for the long winded diatribe....
LH