Detroit bailout: 7 key questions
Newsbot @ Tue Nov 18, 2008 11:50 am
Title: Detroit bailout: 7 key questions
Category: Business
Posted By: stemmer
Date: 2008-11-18 10:47:31
stemmer @ Tue Nov 18, 2008 11:50 am
interesting point in the article...
$1:
Nearly 2 million Americans get their health insurance directly from one of the Big Three automakers. Most of them would lose that coverage if their company goes out of business. A failure of one of the Big Three could also cause a string of bankruptcies among suppliers.
hurley_108 @ Tue Nov 18, 2008 11:54 am
stemmer stemmer:
interesting point in the article...
$1:
Nearly 2 million Americans get their health insurance directly from one of the Big Three automakers. Most of them would lose that coverage if their company goes out of business. A failure of one of the Big Three could also cause a string of bankruptcies among suppliers.
The health care bit wouldn't be a problem if they had universal health care like Canada.
commanderkai @ Tue Nov 18, 2008 12:04 pm
hurley_108 hurley_108:
stemmer stemmer:
interesting point in the article...
$1:
Nearly 2 million Americans get their health insurance directly from one of the Big Three automakers. Most of them would lose that coverage if their company goes out of business. A failure of one of the Big Three could also cause a string of bankruptcies among suppliers.
The health care bit wouldn't be a problem if they had universal health care like Canada.
And Canadian Unions don't demand massive wages and benefits?
Robair @ Tue Nov 18, 2008 12:05 pm
Support HR676 
hurley_108 @ Tue Nov 18, 2008 12:15 pm
commanderkai commanderkai:
And Canadian Unions don't demand massive wages and benefits?
They do, but at least health care isn't part of their compensation. That's one of the reasons Toyota recently decided to build a new plant in Canada rather than Tennessee, IIRC. That and Canadians are literate, and don't need as many pictures to tell them how to do their jobs.
Robair @ Tue Nov 18, 2008 12:31 pm
This comment would likely offend my wife.
hurley_108 hurley_108:
That and Canadians are literate, and don't need as many pictures to tell them how to do their jobs.
And I would negative rep it if I could.
hurley_108 @ Tue Nov 18, 2008 12:36 pm
Robair Robair:
This comment would likely offend my wife.
hurley_108 hurley_108:
That and Canadians are literate, and don't need as many pictures to tell them how to do their jobs.
And I would negative rep it if I could.I'm sorry, but it's the truth:
$1:
After the original announcement, the president of the Automotive Parts Manufacturers' Association told The Canadian Press other automotive companies have encountered difficulties getting new plants up to full production in the U.S.
Nissan and Honda have struggled with U.S. output because of an untrained, and often illiterate, workforce.
He said some factories in the U.S. had to resort to using "pictorials" to teach some illiterate workers how to use high-tech plant equipment.
"The educational level and the skill level of the people down there is so much lower than it is in Ontario," Fedchun told CP.
Nissan and Honda have struggled with U.S. output because of an untrained, and often illiterate, workforce.
He said some factories in the U.S. had to resort to using "pictorials" to teach some illiterate workers how to use high-tech plant equipment.
"The educational level and the skill level of the people down there is so much lower than it is in Ontario," Fedchun told CP.
Link
Robair @ Tue Nov 18, 2008 12:39 pm
Brutal!
I apologize. 
hurley_108 @ Tue Nov 18, 2008 12:48 pm
Robair Robair:
8O Brutal!
I apologize.
I apologize.
No need to apologise, I should have backed up my statement from the start.
commanderkai @ Tue Nov 18, 2008 12:57 pm
hurley_108 hurley_108:
Robair Robair:
This comment would likely offend my wife.
hurley_108 hurley_108:
That and Canadians are literate, and don't need as many pictures to tell them how to do their jobs.
And I would negative rep it if I could.I'm sorry, but it's the truth:
$1:
After the original announcement, the president of the Automotive Parts Manufacturers' Association told The Canadian Press other automotive companies have encountered difficulties getting new plants up to full production in the U.S.
Nissan and Honda have struggled with U.S. output because of an untrained, and often illiterate, workforce.
He said some factories in the U.S. had to resort to using "pictorials" to teach some illiterate workers how to use high-tech plant equipment.
"The educational level and the skill level of the people down there is so much lower than it is in Ontario," Fedchun told CP.
Nissan and Honda have struggled with U.S. output because of an untrained, and often illiterate, workforce.
He said some factories in the U.S. had to resort to using "pictorials" to teach some illiterate workers how to use high-tech plant equipment.
"The educational level and the skill level of the people down there is so much lower than it is in Ontario," Fedchun told CP.
Link
If the US media got their hands on this, foreign car sales would collapse, I bet.
hurley_108 @ Tue Nov 18, 2008 1:16 pm
commanderkai commanderkai:
If the US media got their hands on this, foreign car sales would collapse, I bet.
Why's that?
commanderkai @ Tue Nov 18, 2008 1:21 pm
hurley_108 hurley_108:
commanderkai commanderkai:
If the US media got their hands on this, foreign car sales would collapse, I bet.
Why's that?
If you read an article calling Canadians stupid a foreign newspaper from a guy connected to another foreign (consumer goods) maker, wouldn't you be a bit pissed? True or not, nationalism and pride are strong aspects of consumer demand. Whoever let that guy talk was being an idiot.
Don't piss off your customers. Simple as that
Making a comparison, this would be McDonald's French HQ saying that American McDonald's customers are fatasses. Sure it's true, but you don't say it.
Yogi @ Tue Nov 18, 2008 2:52 pm
I'm all for the bail-out. Provided certain conditions are met.
1. It's not a 'bail-out' rather it will be a 'high interest' loan secured by assets as well as a permanent transfer of shares to the govt general coffers. (That's me and you)!
2. The auto-makers WILL go chapter 11. This will enable them to void all existing union agreements and benefits. In place of the union, an employee association to be formed. Each employee will receive shares in the company, thusly making them 'owners', and hopefully inspire them to work more efficiently while becoming less demanding, because the more money the company makes, the more their shares are worth. It's money in the bank for them.
3. ALL management and employees will take a 25% pay cut. All bonuses are cancelled until such time as the company is 'back in the black' for 4 years continuous, showing more profit each year. Cost of living increases only.
4. The cost of benefits will be split 50/50 between the company and the employee. Paid sick leave is cancelled. To often this is just used as 'paid holidays'! Employees may 'purchase' a LTDI through an outside insurance co. at their own expense. Arrangements to deduct the premiums from their paycheque can be made.
5. As long as the company is in debt to the country, OUR auditors will be on site doing the books. Authorizing expenses and expenditures.
6. All credit cards and expense accounts and perks to be cancelled immediately. This company is experiencing serious financial difficulties. They cannot afford 'country club memberships and perks'!
The alternative of course is Chapter 7 The company assets can be sold off. All plants shut down, and everyone can go on U.I. for 6 mos and then 'graduate' to welfare!
bootlegga @ Tue Nov 18, 2008 3:26 pm
Until they are willing to re organize their companies and work on alternative technology, I say forget it. Chrysler had a bailout in the 1980s and see where it got them...we don't need to hand out any more corporate welfare.