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Discussion Starter #1
So I heard that GM was on the verge of filing Banckruptcy. I don't know if it is true but this is what I got.

The employee discount was suppossed to help them out of a ditch. Only they are just now seeing that it didn't really help them as much as it hurt them.

Anybody know anything.
 

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One of my professors mentioned that too. I'd also heard Delphi filed for Chapter 11 as well (I think chapter 11 gives you protection from the creditors). I would've thought I would've heard something on the news about it.
 

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Good.

I hope they go down. I hate GM.
 

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While you may not like GM losing that many jobs would kill our economy
 

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Its not just the losing of the jobs that would kill the economy. I mean we would then be transfering much more of our products outside of the economy.
 

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Its really much bigger than some people think.

Its pretty crazy, two weeks ago we were sitting at the lunch table at work, talking about delphi, one of the guys father worked there, and he was worried about the company taking a tumble. Sure enough they went belly up like a week later.

Its not about just companies, its about manufacturing goods in general in the united states. Companies are packing up shop and moving overseas because they can cut their expenses in half if not more. I never really thought about it much, but now that I sat down with a couple of guys with economics majors it really sunk in.

China is on a slow grow, but eventually they will be the most powerful country in the world, its only a matter of time.

Quite a few of my friends parents are going to be out of jobs due to delphi closing up shop, and you think about it, entire cities rely on these jobs, and entire cities of people will be out of work, its going to do a huge number on our economy as a whole.

Its headline news here in buffalo, ny, and rochester, ny. We have delphi plants all over here, not to mention the tonawnada gm engine plant, that makes the v6 gm motors, and corvette motors i beleive.

A friend of mine was telling me (he's a few years older than I) that when he was in highschool there was a school to work program, where he would take classes at school basically training him to do a job at delphi, and he would get a job at delphi at the end of the course.

There are tons of schools that were feeding the plant non stop, so its such a huge loss its mindblowing.

This area is in deep deep trouble.
 

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I was told they were doing good due to the employee pricing thing. Where I worked in the summer they do the engine cradles and rear twist ales for the cobalt, the saturn ion, and the HHR. Everyone there worked 60 hours a week (max you can legally work here) all summer long because they told us that GM couldnt keep up with all their customers. Guess that's not the case
 

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Its really scary how few people on the west coast drive domestics. I get excited if i see three domestics (including my car) at a light. The other problem besides shrinking market share is rising health care costs. How is it that UAW union members are the only ones in America with a $2 copay? My friends mom has insurance through Ford (her husband is a salaried supervisor at the Livonia, MI transmission plant) and when she was hospitilized for dizzyness/nausa a few weeks ago, her health care didnt even cover it. The unions have got to give a little, or there going to end up losing everything. We will see how cozy these yuppies driving toyotas are if ford or gm ever go under. we will all be screwing the pooch on that one, heck it will even hurt the japanese companies, after all whos technology will they steal then?
 

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What funny is that Toyota, Honda, and even Hyundai are building more and more cars here whereas GM, Chysler (who just announced that some minivans will be built in China), and Ford are building more and more overseas. Im an econ major myself and it has been a topic in many classes about where the economy may be in the next few years. It is scary. But what can really be done? If they (domestics) build products here, the cars prices will be priced to high to cover cost and then they cannot compete with these so called foreign manufactures. Toyota builds the Camry near here and the Tundra is built just north of my home town. The employees say although it is hard work, they are a good company to work for.
 

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Its true that the foreign brands have been assembling more of their cars here, but it would be interesting to see what percentage of the content is actually made here, not just shipped over and put togethor. One also has to look at how those working at toyota/hyundai etc plants are paid. Up until very recently, someone working on the line at ford or gm would start out at about $18 an hour, with truely sick benefits. I would wager someone at a hynduai plant starts out at about 12 bucks an hour, if that. you are definately right about the domestics outsourcing more and more- the fusion is going to built entirely in mexico.
sigh this topic is really distressing for me, obviously the world is not going to end, and i doubt ford or gm is going to go out of business anytime soon, but they really need to get there acts togethor. The really scary question is; where is the U.S. going to be without its once mighty manufacturing capacity? after all, the reason the us rose to be a superpower during ww2 wasnt that we made better stuff, just more of it.
 

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in michigan here we are already start feeling the pain of the job loss insecurity now.
 

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The problem is that the majority of americans expect to make $$$$$. The Chinese and other emerging markets have thousands of people begging to work for ¢.

Americans are overpaid. It's not the fault of the government or labor unions. The problem is deep in our culture. Look at top CEOs or pro athletes.

Americans are also snooty. I know a couple people who would rather not work at all then get a job they feel is "beneath them".
 

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GreenBird said:
The problem is that the majority of americans expect to make $$$$$. The Chinese and other emerging markets have thousands of people begging to work for ¢.

Americans are overpaid. It's not the fault of the government or labor unions. The problem is deep in our culture. Look at top CEOs or pro athletes.

Americans are also snooty. I know a couple people who would rather not work at all then get a job they feel is "beneath them".
i guess that puts me in the same group as the chinese, as i will work for money. doesnt really matter how much it is it beats not making any money at all. yes i would like to make enough money that i dont have to work after i turn 35 but i know that wont happen. so ill just keep working wherever i can get a job.
 

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This even affects people way up here. Delphi operates a winter test track (you know all those pictures in "Car and Driver" where they're power sliding cars on the ice? Yup.) near here, and there's a big deal about whether they're going to keep it or not. They're renting that land for a good chunk of change, and if they leave, that's gonna kill my county's budget and probably force another police layoff or something.
 

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You guys really don't know that half of what is going on at Delphi. Just pieces or rederick that you have heard.

I deal directly with Delphi. They are in the company that I work for, every day. They filled Chapter 11 which protects them while they attempt to restructure. Look at KMart, they filled Chapter 11 and now they own Sears.

The average pay-roll in the Union based Delphi is around $50.00 per hour. When you look at the number of employees that they have, you CANNOT justify paying a janitor $30.00 an hour to sweep the floor.

The Union was designed to protect your job, to get you the BEST benefits that you can get and to get you fair pay wages. Not to hold the company hostage.

Delphi is making us turn to programs like Six Sigma in order to reduce our costs. In turn we can reduce the cost of the parts they are buying. Once they get things worked out in the courts I'm sure you'll see then turn things around.

Look at Ford and Visteon.

A-Train
 
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