That's a significant cut in pay. Huge really. I wouldn't want to be in their shoes. Still, I'm glad they (the workers) have options now and won't all be left penniless and unemployed. It's really unfortunate what's happening to our manufacturing jobs... hopefully Delphi remembers this sacrifice and doesn't go opening two dozen plants in China in three years.

 

While I believe that these people are overpaid for their jobs, I feel bad for them because they are going to have to make significant downward adjustments to their standard of living. TFA did say they were getting some kind of one time payment. That should ease the transition for some people. Its a shame, but tough problems generally require tough solutions.

 

That's a significant cut in pay. Huge really. I wouldn't want to be in their shoes. Still, I'm glad they (the workers) have options now and won't all be left penniless and unemployed. It's really unfortunate what's happening to our manufacturing jobs... hopefully Delphi remembers this sacrifice and doesn't go opening two dozen plants in China in three years.

If delphi forgets it would be a disaster. Let's hope that doesn't happen and things move forward now.

 

Thats a nice amount of money.

 

not so fast as GM has to pony up $6 billion for bonuses and retirement packages in this deal and even agree to hire some emplyees at GM plants that pay higher wages. this was done to prevent a strike at delphi which could cause a GM shut down or even bankrruptcy. the UAW members are not rolling over and playing dead,yet

 

If delphi forgets it would be a disaster. Let's hope that doesn't happen and things move forward now.

I don't know what you mean by 'Delphi'. If you're referring to the likes of Steve Miller, I doubt he has thought about it at all in the terms of what it means to the people who will take the hit.

Now to the 'other' side. The WSJ has an article today about some of the perks available to those at the top of the heap. For example:

***
"When Nikki Mulally wants to travel, she can usually hop on one of Ford Motor Co.s' Falcon twin-turbo jets. To woo Mr. Mulally from Boeing Co. last fall, Ford promised that his wife, five children and guests could fly on corporate aircraft without him, as long as he authorizes the travel. Personal flights by Mr. Mulally and family members cost Ford $172,974 during his four months with the auto maker last year. A Ford spokesman declines to disclose the family-member and guest component of that sum. Ford paid Mr. Mulally $28.2 million last year including an $18.5 million bonus.
***

The article also cites other execs from various companies. Benefits like this are taxable, but some companies hand over extra money to cover the taxes.

These people see themselves as entitled. Someone who brings home $28+ million should feel ashamed to collect even more money for frivolous things like family travel ESPECIALLY when their company is failing and employees being laid off all over the company.

 

now that these cuts are happening dont think it wont happen to electricians, construction workers, machinist, carpenters, or anyone else who is "considered overpaid"

 

This is much better than the $12 or so that was originally thrown out on the table.

 

In the company that I work for ive seen 25 to almost 50% pay cuts for over half of the workers with the rest not having a raise in over 3yrs and this is a world wide known company in the technology business, so this hasn't started with the unions, its been going on for years and is just catching up to the UAW, I feel their pain but the rest of us have been going thru this for a while

 

In the company that I work for ive seen 25 to almost 50% pay cuts for over half of the workers with the rest not having a raise in over 3yrs and this is a world wide known company in the technology business, so this hasn't started with the unions, its been going on for years and is just catching up to the UAW, I feel their pain but the rest of us have been going thru this for a while

US wages are becoming like the proverbial snowball rolling downhill

 

US wages are becoming like the proverbial snowball rolling downhill

Yes and its picking up steam.

 

now that these cuts are happening dont think it wont happen to electricians, construction workers, machinist, carpenters, or anyone else who is "considered overpaid"

The only people who think these people are overpaid just think that because they have no skills and make less money so anyone that makes more money than they do is "overpaid". I never understood people who think a group of people are way overpaid and complain about it. If it's such a great paying job for what they do quit bitching about it and do what it takes to get a job doing it.

My guess is that these people are too lazy or unmotivated to even take the initial steps to get one of these jobs much less have the intestinal fortitude to go through the steps it takes to get to that top level in whatever profession they deem “overpaid".

 

Yes and its picking up steam.

Wait until we get several more years of illegal aliens entering the country by the millions. You think wages are dropping now...

 

Wait until we get several more years of illegal aliens entering the country by the millions. You think wages are dropping now...

That is for sure, the only job that can not be outsourced is POTUS, everything else is up for grabs

 

not so fast as GM has to pony up $6 billion for bonuses and retirement packages in this deal and even agree to hire some emplyees at GM plants that pay higher wages. this was done to prevent a strike at delphi which could cause a GM shut down or even bankrruptcy. the UAW members are not rolling over and playing dead,yet

However if it is costing GM say $2 billion a year to keep them employed at the cuurent pay rates as opposed to the new ones then in three years they start seeing the benifits as that amount of money is freed up.

Then again they just got close to $6 billion from selling the Allison transmission unit.

Either way the quicker GM can remove the costs the quicker they can use the money saved to reduce the retail price of vehicles, cut back on incentives as the prices are lower and invest serious money in offering the best cars on the market.

It all takes time, but the sooner the costs go away the better.

 

I don't know what you mean by 'Delphi'. If you're referring to the likes of Steve Miller, I doubt he has thought about it at all in the terms of what it means to the people who will take the hit.

Now to the 'other' side. The WSJ has an article today about some of the perks available to those at the top of the heap. For example:

***
"When Nikki Mulally wants to travel, she can usually hop on one of Ford Motor Co.s' Falcon twin-turbo jets. To woo Mr. Mulally from Boeing Co. last fall, Ford promised that his wife, five children and guests could fly on corporate aircraft without him, as long as he authorizes the travel. Personal flights by Mr. Mulally and family members cost Ford $172,974 during his four months with the auto maker last year. A Ford spokesman declines to disclose the family-member and guest component of that sum. Ford paid Mr. Mulally $28.2 million last year including an $18.5 million bonus.
***

The article also cites other execs from various companies. Benefits like this are taxable, but some companies hand over extra money to cover the taxes.

These people see themselves as entitled. Someone who brings home $28+ million should feel ashamed to collect even more money for frivolous things like family travel ESPECIALLY when their company is failing and employees being laid off all over the company.

That's what they had to pay him to get him to leave Boeing (where he was probably going to be the next CEO after he managed to turn around Boeing's commercial plane division and beat up Airbus with the 777 and 787). At least Mulally seems to have a clue as to what to do. The new Taurus is excellent. Mark Fields pretty much had Mulally's job and couldn't get jack done (see 08 Focus).

 

The only people who think these people are overpaid just think that because they have no skills and make less money so anyone that makes more money than they do is "overpaid". I never understood people who think a group of people are way overpaid and complain about it. If it's such a great paying job for what they do quit bitching about it and do what it takes to get a job doing it.

My guess is that these people are too lazy or unmotivated to even take the initial steps to get one of these jobs much less have the intestinal fortitude to go through the steps it takes to get to that top level in whatever profession they deem “overpaid".

Maybe because GM is uncompetitive becuase of the extortion (compensation, lol) they are paying to the UAW. I can't wait until the UAW is all but powerless so Americans can quit subsidizing line workers. Maybe then other countries will want to buy American cars too. Gasp!

 

GM will take some special charges probably at opportune tax times to pay off the $6 billion. After that, they can save a considerable amount on parts, and subassemblies. This will help close the competitive gap with the imports. I think this year is the year that the # of GM retirees actually start declining (slowly) according to actuary tables and such.

 

Now they can start living like the rest of the american workers do.:yup:

 

Now they can start living like the rest of the american workers do.:yup:

Just what the execs want the public to think, and how much of the savings do you think will actually go into the long term health of the company, and creating more stable American manufacturing jobs?

 

Slack, Redfox just out of curiosity what is it you two do for a living?

 

Now they can start living like the rest of the american workers do.:yup:

Like those in public taxpayer funded jobs?

Like the entertainment industry?

The legal profession?

What's happened to Delphi is just like what happened to textiles, electronics, steel & so many other manufacturing jobs.

The jobs were targeted, the elected representation did nothing to protect those jobs and through flat out trade piracy via lousy and incompetent legislation and inept inaction, those jobs are someplace else.

 

IMHO this deal might just give the domestic US auto industry a future

Analysts at Cerberus were talking about a roughly 30% total labour cost disadvantage that the "domestics" currently suffer vs asian competitors (including transplants)

27 to 18 bucks an hour looks like it's closed that gap.

 

Slack, Redfox just out of curiosity what is it you two do for a living?

I worked for 40 years at a aerospace co. and was making 20.00 dollars an hour when i retired thought that was a fair wage.:yup:

 

I am a fireman. Why do you want to know, and what do you do?