Do you support the loans to the big three?

I believe there is a misconception that it is the unions fault that the big three are in trouble. When the actual fact is that the wage and benefit package of the worker is less than 10% of the cost of the car. When we pay big executives millions and millions of dollars to mismanage a company we have problems. Most people only know what is reported on the news and they always make it sound like it is the fault of the union. When unions take huge concessions to help with costs you do not see that same set of standards followed by those individuals that make the decisions. I believe it is unfortunate that the same individual that gets the blame for this mess will be the same individual that get hurt when they file for bankruptcy. Thanks for your thoughts

That is interesting that the labor costs are that low. I would think they would be higher, but I haven't looked at their books so I wouldn't know. There are several ways they could cut costs. Cutting some of the benefits to workers would be the one of the easiests ways. I agree that you have to be careful with what you pay the executives, but if you look at the numbers I'd be willing to bet that the millions payed to executives are a very small percentage of costs. However, they shouldn't be even thinking about bonuses right now.

Benefits paid to workers are calculated into every car sold by GM as well as the parts plants. They calculate every benefit offered to you weither you use it or not. If you are lucky enough to have both husband and wife working there, only one person receives medical benefits, ect. But the other person is still calculated into the costs charged. Benefits such as workmans comp, sick leave, maternity leaves all cost so even if your not using these benefits they are still part of a package that is offered. The bottom line is they have several Vice Presidents, General Forman, Superintendents, Advisors, Team Leaders that fatten the pie. Everyone has responsibilities. I guess the point I am trying to make is it is unfair to put the sole burden of a failing company on the back of the hourly worker alone. If the news would report the entire facts to the public I think they would be outraged.

I am a retire from the big three, and I spent 30 years in the shop. I am grateful for the wonderful life I was able to give my family, but I am also angry that everyone thinks its the auto worker and the unions that caused the issues in the Auto Industry. I would gladly work for a $1.00 a year if I received perks, stocks, and had made a huge salary for many years. The issue really is with how the Auto Industry is precieved in this country. I was shocked when I went to California, I could not believe the number of people who drive cars from foreign auto companies. Now I know many people will take offense to that statement and tell me that they have built plants over here which employee our citizens and they are right. They also take those massive profits and send a lot of them to there homeland. The other issue which is not taken into account is the executives do not make what our executives do, and the workers receive pretty close compensation in hourly wage. Where they really differ is the legacy cost of pensions.
I find it troubling that the bankrupcy laws were changed for the average citizen but when it comes to Corporations they remained the same. I am sickened by members of our Congress wanting GM to file bankrupcy to restructure. Essenntially what they are saying is its OK to hurt the thousands of employees who have worked for you and the creditors that trusted you would pay them. IT IS not allright. Nor is is allright that GM salary retires are expected to face a financial burden now that have been asked to leave in many instances. I believe the Auto Industry can turn around but not on one persons back.