GM closing 5 plants

[cowslinger64]

Obama should not have bailed them out. They should have had to file bankruptcy. Shareholders would not have been screwed and the UAW could have been destroyed.

Obama committed an unconstitutional government taking for the benefit of the union. I sincerely hope General Motors goes bankrupt (again)and that the UAW pensions are completely wiped out.

You two are a couple of complete fucking idiots. What a special brand of stupid.


Fuckheads.

 

[HAL_9000]

You two are a couple of complete fucking idiots. What a special brand of stupid.


Fuckheads.

Union workers who have saved up their pensions for decades don't actually deserve them.

But they deserve their government disability checks and welfare.

 

[Que]

Union workers who have saved up their pensions for decades don't actually deserve them.

But they deserve their government disability checks and welfare.

You don't "save up" a pension. A pension is an award for life of a sum of money that us negotiated for with an employer. The idea is that your employer is going to outlive you and be there to pay of the "defined benefit." If your parasitic actions kill the golden goose, you get whatever scraps *if any) are left in a bankruptcy proceeding.

Whether or not we're talking about employee contributions, employer contributions, or employer matching contributions into a defined contribution plan like a 401k it could be said that a person is saving up for their retirement. No such saving occurs in a pension scheme.

 

[HAL_9000]

You don't "save up" a pension.

Why are pension funds deducted from every salary or payroll check, then? (If the employee opts in)

 

[Dribble]

Why are pension funds deducted from every salary or payroll check, then? (If the employee opts in)

You have to forgive him...he obviously never paid into one...but he is an expert. God's gift to Lit. We are so fortunate to have him.

 

[chillywilly2]

You don't "save up" a pension. A pension is an award for life of a sum of money that us negotiated for with an employer. The idea is that your employer is going to outlive you and be there to pay of the "defined benefit." If your parasitic actions kill the golden goose, you get whatever scraps *if any) are left in a bankruptcy proceeding.

Whether or not we're talking about employee contributions, employer contributions, or employer matching contributions into a defined contribution plan like a 401k it could be said that a person is saving up for their retirement. No such saving occurs in a pension scheme.

Its a downfall of the system and the reason 401k's were created...to keep the gove and companies from fucking people out of their retirement benefits.

In this case though, the company isn't going bankrupt, they are simply closing a plant so it should have no affect on any pensions already in place.

Now if you only been there a few years you gotta find a new job and let this be a warning...fuck the company pension and save your own 401k

 

[chillywilly2]

You have to forgive him...he obviously never paid into one...but he is an expert. God's gift to Lit. We are so fortunate to have him.

Some days I wonder

 

[RobDownSouth]

You have to forgive him...he obviously never paid into one...but he is an expert. God's gift to Lit. We are so fortunate to have him.

My little bitch is, of course, the (self-proclaimed) smartest guy on the General Board you know.

 

[chillywilly2]

I presume this means "New Improved NAFTA" is not perceived to be much of an improvement by the auto makers.

That said, it is any real shock that no one wants to drive an Impala, LaCrosse or a Volt?

The auto makers don't give a shit where they make em....wherever is cheapest.

The govt wants them built in their country so they gotta compete with each other , not auto makers.

The people want them as cheap as they can get them but could use a job to pay for stuff

 

[zipman]

IF Trump is so worried about the layoffs, maybe he should build a plant there and have his and Ivanka's products manufactured here in the U.S.

 

[jaF0]

No such saving occurs in a pension scheme.

Wanna see my pay statements with the Retirement deduction?

 

[Que]

Wanna see my pay statements with the Retirement deduction?

You also have FICA deductions.

How much have you "saved up" in "your" social security account?

How is "your" social security "savings" held in trust?

How are "your" social security "savings" invested?

Pension funds, like social security, depend on payments by future workers. Few are anything close to fully funded. Companies ser aside as little in them as they can get away with. Why do you suppose that 80's corporate raiders like Carl Icahn were able to divert "your" pension "savings" and throw companies into bankruptcy?

 

[IG_88]

You also have FICA deductions.

How much have you "saved up" in "your" social security account?

How is "your" social security "savings" held in trust?

How are "your" social security "savings" invested?

Pension funds, like social security, depend on payments by future workers. Few are anything close to fully funded. Companies ser aside as little in them as they can get away with. Why do you suppose that 80's corporate raiders like Carl Icahn were able to divert "your" pension "savings" and throw companies into bankruptcy?

You are always so full of shit. It's incredible really. I'm full of shit and you make me look like a popcorn fart compared to your level of shit. Just wow man.

 

[Carnal_Flower]

I thought they were going to take those tax breaks and invest in jobs.

Oh well. This is what Deplorables voted for.

 

[BoyNextDoor]

The auto makers don't give a shit where they make em....wherever is cheapest.

The govt wants them built in their country so they gotta compete with each other , not auto makers.

The people want them as cheap as they can get them but could use a job to pay for stuff

Wasn't the whole point of renaming NAFTA to USMCA to save the auto industry

 

[trysail]

Fer crissakes, half the state government pension funds are severely underfunded.


You do not want to be a taxpayer in California, Illinois, New York, Rhode Island or Connecticut.


The politicians have promised far more to the teachers and government workers than can be afforded and they've all been engaged in sleight-of-hand manipulation of expected return assumptions to kick the whole godawful mess down the road.


Buffett's been warning about this crap for decades but nobody paid any attention. The chickens will eventually come home to roost.


​

 

[Que]

Half of these job losses are in Canada. You'd have to look at the details to see if it is now more economical to ship future manufacturing to the US versus Canada

Not sure where all the shutter plants are but at least one of them is in Ohio which I think is a holdout state that has resisted right to work laws. In other words a heavy union plant. Good job GM shaftng the union.

It does seem noteworthy that they aren't simply retooling the Canadian plants to build American SUVs.

 

[DMBFFF]

1. If Trump talked like Que, he wouldn't have been elected—too real for the Trumpsters.

2. Are the states threatened with closings red or blue? Ontario's current premier is a semi-Trump-like BSer elected this summer.

3. Cheaper foreign cars might be good for the North American economy.

 

[doowdniw]

Obama should not have bailed them out. They should have had to file bankruptcy. Shareholders would not have been screwed and the UAW could have been destroyed.

GM did file for bankruptcy. So there's that.

 

[jomar]

Every day, as I drive or walk around this area looking at the automobiles I am stunned, horrified and depressed by the fact that 98% of 'em are foreign— they're ALL Japanese or German or Korean nameplates.

Congratulations America ! You dumb fucks have either given away or destroyed your automobile industry.

​

My Hyundai was built in Alabama. My BMW was built in South Carolina. My Acura was built in Ohio.

The Ford/Chevy/etc should build better autos if they want to compete and stay healthy...you know, capitalism and free markets and all...

 

[Luk]

My Hyundai was built in Alabama. My BMW was built in South Carolina. My Acura was built in Ohio.

The Ford/Chevy/etc should build better autos if they want to compete and stay healthy...you know, capitalism and free markets and all...

A good chunk of Mercedes are built in South Carolina. Tryfail never lets facts get in the way of a good whine.

 

[chillywilly2]

You also have FICA deductions.

How much have you "saved up" in "your" social security account?

How is "your" social security "savings" held in trust?

How are "your" social security "savings" invested?

Pension funds, like social security, depend on payments by future workers. Few are anything close to fully funded. Companies ser aside as little in them as they can get away with. Why do you suppose that 80's corporate raiders like Carl Icahn were able to divert "your" pension "savings" and throw companies into bankruptcy?

A good reason why the govt should require all company pensions to be fully and separately funded.
When the company goes down the workers still have their pension funds.

Gut govt suckholing to corporations and this is what you get...fucked

 

[Que]

A good reason why the govt should require all company pensions to be fully and separately funded.
When the company goes down the workers still have their pension funds.

Gut govt suckholing to corporations and this is what you get...fucked

How about the government fully funding social security for a start. If they manage that then we can move on to government fully funding government pensions and then let's worry about the private sector.

 

[BotanyBoy]

My Hyundai was built in Alabama. My BMW was built in South Carolina. My Acura was built in Ohio.

The Ford/Chevy/etc should build better autos if they want to compete and stay healthy...you know, capitalism and free markets and all...

Boom.


Our trucks are #1, our SUV's are competitive but not dominant.....but our cars?

Damn...it's just ugly out there for M'arican brands.

The Japanese sedans/sports cars, Korean economy commuter cars and German luxury cars fuckin' dominate in the car world.


I mean, why buy a Corvette or Dawjuh Demon when you can get a GTR???

 

[chillywilly2]

How about the government fully funding social security for a start. If they manage that then we can move on to government fully funding government pensions and then let's worry about the private sector.

How about it. The government will always find a way to pay.

The private sector, well, they take deductions from you so its not their money, it is being held in a pension plan.
Look at the trade unions..their pensions are fully funded because they make the company pay and they put it into the plan. if the union goes broke, the money is still there.
Should be the same setup for private companies. Pension plans should not be a company asset to blow as they see fit.