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Title: thanks for taking the pay cut rank and file. Post by: birdymaker on June 29, 2008, 09:59:49 AM and as far as management, bonuses and raises across the board! [sm_scratch] [sm_mob] [sm_poke]
http://uk.reuters.com/article/governmentFilingsNews/idUKN2726138620080627 Title: Re: thanks for taking the pay cut rank and file. Post by: Uisce Beatha on June 29, 2008, 10:05:39 AM What a dauchbag.
Title: Re: thanks for taking the pay cut rank and file. Post by: MFAWG on June 29, 2008, 10:57:53 AM What's $5,000,000,000 divided by 3650? [sm_devil]
Title: Re: thanks for taking the pay cut rank and file. Post by: Aske on June 29, 2008, 11:22:07 AM why do you hate korprit bull*feces*, comrade?
Title: Re: thanks for taking the pay cut rank and file. Post by: birdymaker on June 29, 2008, 11:58:20 AM don't get me wrong. i'll be the first to tell you that assembly workers making 28.00 is nuts. so they cut their pay in half which is still a decent wage for what they do being unskilled labor. but to turn right around a month later and give someone who makes 1.5 mil an 8.5 mil bonus while the stock price has sunk 50% in the last 6 months?
i will almost guarantee this dude will be gone in six months while grabbing the golden parachute on the way out. Quote The committee also approved a 15 percent salary increase for David Dauch, son of *8==>* Dauch, based on his promotion to president and chief operating officer, and salary increases of 4 percent to 6 percent for other officers. nice little bit of nepotism too. nice if you can keep all the thievery in the family ;) Title: Re: thanks for taking the pay cut rank and file. Post by: twoiron on June 29, 2008, 02:33:22 PM I fully support the rank and file employees of an organisation.
Without them I wouldn't be able to provide for my family all the luxury items one has become accustomed to. Now get back to work! Title: Re: thanks for taking the pay cut rank and file. Post by: MFAWG on June 29, 2008, 06:49:30 PM So making UNDER the average wage is OK in Korprit Amerika.
Bull*feces*. Seriously: What's 5,000,000,000 divided by 3650? Because 3650 is how many took the cut. Title: Re: thanks for taking the pay cut rank and file. Post by: gleek on June 29, 2008, 09:05:55 PM So making UNDER the average wage is OK in Korprit Amerika. Bull*feces*. Seriously: What's 5,000,000,000 divided by 3650? Because 3650 is how many took the cut. $5B divided by 3650 is around $1.4M. What's the signfiicance of these figures? Title: Re: thanks for taking the pay cut rank and file. Post by: MFAWG on June 29, 2008, 09:30:01 PM OOOPS, I meant 5,000,000 [sm_disgust]
It would have just been easier to kick every one of the 3650 UAW employees in the nuts and take their paychecks for a week. This is probably an academic exercise anyway. They make truck axles, and that market is probably dead at $4.50 a gallon forever... Title: Re: thanks for taking the pay cut rank and file. Post by: birdymaker on June 30, 2008, 05:40:12 AM OOOPS, I meant 5,000,000 [sm_disgust] It would have just been easier to kick every one of the 3650 UAW employees in the nuts and take their paychecks for a week. This is probably an academic exercise anyway. They make truck axles, and that market is probably dead at $4.50 a gallon forever... hardly. trucks are a necessity for both business and military. as far as soccer moms, kiss em goodbye. so what would you have them do? they already have a plant in mexico and had already said this is a take it or leave it deal. for the first time in 20 years the workers did the right thing and voted to keep their jobs. blame GM they're the ones that let the wages get so far out of whack in the first place. Title: Re: thanks for taking the pay cut rank and file. Post by: Clive on June 30, 2008, 07:59:11 AM Just buying time -- American Axle will just move those jobs to Mexico within the next three years anyway.
I get that 3650 is the number of workers; what's the $5 million represent? Title: Re: thanks for taking the pay cut rank and file. Post by: gleek on June 30, 2008, 07:59:39 AM I read somewhere that GM's woes are a product of their decision a long time ago to self-underwrite the healthcare plans of its employees. It worked great for awhile. They enjoyed the benefits of an artificially inflated stock price buoyed by phantom earnings for years. In the meantime they financed away their future by selling off junk bonds like there's no tomorrow to improve their cash position in order to make payments on the health insurance claims of an aging workforce and growing retiree base that's getting fatter and by the "miracle" of modern medicine living longer than ever before. I can't think of a company that's more Munsoned than GM.
Title: Re: thanks for taking the pay cut rank and file. Post by: stroh on June 30, 2008, 08:14:29 AM I read that too.
Title: Re: thanks for taking the pay cut rank and file. Post by: MFAWG on June 30, 2008, 07:16:23 PM Just buying time -- American Axle will just move those jobs to Mexico within the next three years anyway. I get that 3650 is the number of workers; what's the $5 million represent? Oh, never mind. Bad math, misread the amount. That said: It would be one thing if shenanigans like this were the exception rather than the rule. Then you could just blame a board that most likely consists of relatives, a close personal friend and some 3d tier local celeb. The reality is that CEO and top executive pay no longer bear much, if any, relation to actual performance and no relation whatsoever to long term viability for a given company, and this *feces* happens all the time. Seriously, what is so 'Unreasonable' about expecting production workers to have reasonably middle class lifestyles. 14 bucks an hour AIN'T middle class, but then neither is 10 million in salary and 'Performance Bonuses'. |