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Who say's GM stock is junk rated!

Discussion in 'The Lounge' started by mtn. burb, May 5, 2005.

  1. mtn. burb

    mtn. burb 1/2 ton status

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    Standard and Poors Rating Service

    A month or two ago I posted a link that said GM had about 300 billion in debt.

    A lot of us could not believe that number.

    Turns out it's $291.8 BILLION.

    Ford is not far behind.


    http://apnews.myway.com/article/20050505/D89TADPO0.html
     
  2. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    send the bill to the UAW.

    j
     
  3. CyberSniper

    CyberSniper 1/2 ton status Premium Member

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    Send the bill to the lazy sonb¡tches and the Level 7 and aboves.

    Not all people in the UAW are bad. It's just the UAW protects the worst people.
     
  4. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    thats why I said "send the bill to the UAW" and not "poor blue collar assembly line worker". Its sort of like AARP... not all old people that are in it are "bad"... but the organization sucks and is trying to run this country/company into the ground. UAW will eventually destroy GM, its only a matter of time IMO unless something MAJOR changes. Retirement benefits / healthcare handouts are litterally more of a concern for GM right now than building cars. They have become more of a miniture welfare state than a car builder. That spells the begining of the end, unless something changes and soon. IMO, if the UAW doesn't watch its ass its going to push American manufacturers to the point where employing ANY assembly plant workers in the United States is no longer economically feasible. Of course, once that happens UAW and its workers will cry out "look at what these evil corps are doing to us!!!" when in reality, its UAW who is killing GM, not the other way around.

    Personally, I wish everyone who worked hard could get paid $892984759487 per year and had awesome benefits... but the fact is that just isn't possible. I know UAW guys get paid more than I do, so they don't get much sympathy from me, especially when they have the "you have to be union or you ain't workin at this plant" kind of rules going on. I call that "extortion" and its just one example of why Im not a big fan of uber unions like the UAW. Protecting completely worthless workers is another. If you know anything about capitalism vs socialism, you know that pay should always be tied to performance/output. If a guy is a worthless pile, pay him zilch or fire him. Dont get me wrong, I'm not saying this only applies to lower level workers... I think it applies to all levels of employment right up to the CEO. When the company loses a ton of $, the CEO should be fired and shouldn't get jack for a severance package either. Bill pay checks and HUGE severance for a guy who did a chitty job is just as big of a problem as unions protecting crappy workers.

    j
     
  5. OrangeCrushK10

    OrangeCrushK10 1/2 ton status

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    Yup. Unions are a joke anymore. They hurt more than they help.
     
  6. ramjet gmc

    ramjet gmc CK5 Staff Staff Member Moderator GMOTM Winner

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    Not all people in the UAW are bad. It's just the UAW protects the worst people.

    i am in the a union and i say the same thing and if the masses only know what the top people in your union did with ther dues $$$ they would freak -- the truth is they even post it just read it people

    now on the goverment :grin: :grin: :grin: :grin: over taxed??
     
  7. cbbr

    cbbr 1 ton status GMOTM Winner

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    "..losing market share at home to Asian competitors, seeing sales soften for their most profitable models and facing enormous health care and post-retirement liabilities."

    God, I would love to have a union retirement. Or any retirement that I don't fund myself.
     

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