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Car makers in bankruptcy - Page 2

post #31 of 33
Quote:
Originally Posted by Tara & Rob View Post
If the Big Three dumped their unions, maybe they wouldn't be in such a hole
Or how about if the CEOs weren't making billions of dollars as they run the company into the ground?

http://www.uaw.org/auto/11_25_08auto2.cfm

Quote:
According to Kristin Dziczek of the Center for Automative Research -- who was my primary source for the figures you are about to read -- average wages for workers at Chrysler, Ford, and General Motors were just $28 per hour as of 2007. That works out to a little less than $60,000 a year in gross income
Quote:
More important, and contrary to what you may have heard, the wages aren't that much bigger than what Honda, Toyota, and other foreign manufacturers pay employees in their U.S. factories. While we can't be sure precisely how much those workers make, because the companies don't make the information public, the best estimates suggests the corresponding 2007 figure for these "transplants" -- as the foreign-owned factories are known -- was somewhere between $20 and $26 per hour, and most likely around $24 or $25. That would put average worker's annual salary at $52,000 a year.
Quote:
Notice how, in this article, I've constantly referred to 2007 figures? There's a good reason. In 2007, the Big Three signed a breakthrough contract with the UAW designed, once and for all, to eliminate the compensation gap between domestic and foreign automakers in the U.S.
post #32 of 33
I'm a VW guy, but my GF drives a 2002 saturn SL2 that she purchased new in '01. It's a great car, very reliable, and gets strangely good gas mileage on the highway (we calculated upwards of 38mpg driving to Las Vegas a couple years ago). It hasn't needed any major repairs, but I've been very careful to stay ahead of the maintenance schedule. So far, it's just been belts, fluids, and filters. And a thermostat.

I'd buy another one, but they discontinued the S-series in 2003. And, of course, GM is phasing out the Saturn brand entirely now.
post #33 of 33
http://blogs.abcnews.com/politicalpu...ptcy-atto.html

Quote:
A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration's Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration's Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.
Interesting
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