Billions made off the backs of Union Workers at UAW GM

[shintao]

I always hear all this rhetoric about we ought to get rid of unions, but what nonunion work force is making billions of extra cash for their corporations like UAW workers are? And this is all profits, that union members didn't receive as wage & benefits. Instead it was rich assholes who are too lazy to work, and probably never worked a day in their lives.

Wall Street expected to net billions from GM stock sale
By Jerry White
3 November 2010
General Motors is expected to hold an Initial Public Offering of 365 million corporate shares, worth an estimated $10 billion, by November 18. The company will return to New York Stock Exchange for the first time since emerging from bankruptcy 17 months ago.

The drastic cost-cutting overseen by the Wall Street asset strippers appointed to the White House Auto Task Force has made the US automaker an attractive buy. GM, which has posted $2.2 billion in profits during the first half of the year, is expected to announce what analysts call “significant” third quarter profits in the next few days.

Wall Street expected to net billions from GM stock sale

 

[Revere]

Uh, the bailouts were for the UAW, not GM.

 

[shintao]

Uh, the bailouts were for the UAW, not GM.

You are upside down. GM needed the bailout to pay for contracts it negtotiated. And this thread is about the profits made that are headed to the stock market.

 

[Revere]

The taxpayers bailed out the UAW's unsustainable pension and benefit plans.

Now that those are safe, who the fuck cares if GM makes profits again?

 

[syrenn]

Generally that is why you have workers...to make money.

So whats the problem?

 

[Revere]

Shitnao is a meth head with a union pension to pay for his habit.

 

[shintao]

The taxpayers bailed out the UAW's unsustainable pension and benefit plans.

Now that those are safe, who the fuck cares if GM makes profits again?

You won't find UAW's name on GM's failure & bailout. Who cares if they make a profit? Investors care as billions roll their way to the stock market. And workers care for the little dribble they will make for their families, after the rich who care, who gutted them again.

 

[syrenn]

Shitnao is a meth head with a union pension to pay for his habit.

More like he wants a bigger chunk of profit sharing for his union thugs.

 

[Revere]

Listen, drug addict. The country doesn't work if someone doesn't make a profit.

Get the needle out of your arm and your head out of your ass.

GM's failure was caving in to unions.

 

[Revere]

Shitnao is a meth head with a union pension to pay for his habit.

More like he wants a bigger chunk of profit sharing for his union thugs.

The UAW had a chance to buy into GM when it almost folded and passed on it.

Fuck the UAW to hell, pardon my French.

 

[Revere]

Hey crack for brains, the UAW was willing to take no risk when GM reorginanized, so they don't deserve any profits.

 

[syrenn]

Shitnao is a meth head with a union pension to pay for his habit.

More like he wants a bigger chunk of profit sharing for his union thugs.

The UAW had a chance to buy into GM when it almost folded and passed on it.

Fuck the UAW to hell, pardon my French.

You spoke just fine in English. Fuck all unions.

 

[Rozman]

And I remember hearing and don't know if it's true but didn't Jesse Jackson threaten to boycott certain companies for something the good Reverend thought was a slight of some kind.Then after some money changed hands the boycott was called off....Allegedly. Now did Rev.Jackson earn that money?

 

[Misty]

I know people who have lived off their pension longer than they actually worked.

Do the math. It's unsustainable.

 

[Trajan]

Uh, the bailouts were for the UAW, not GM.

You are upside down. GM needed the bailout to pay for contracts it negtotiated.

so I now pay for a contract negotiated between 2 parties in which I have zero interest or stake in? great thx..the fact that that irony escapes you speaks volumes.

And this thread is about the profits made that are headed to the stock market.

whatever.

 

[uscitizen]

How much of GM's profits was from sale of products and how much from sales of GM divisions?

 

[mdn2000]

I always hear all this rhetoric about we ought to get rid of unions, but what nonunion work force is making billions of extra cash for their corporations like UAW workers are? And this is all profits, that union members didn't receive as wage & benefits. Instead it was rich assholes who are too lazy to work, and probably never worked a day in their lives.

Wall Street expected to net billions from GM stock sale
By Jerry White
3 November 2010
General Motors is expected to hold an Initial Public Offering of 365 million corporate shares, worth an estimated $10 billion, by November 18. The company will return to New York Stock Exchange for the first time since emerging from bankruptcy 17 months ago.

The drastic cost-cutting overseen by the Wall Street asset strippers appointed to the White House Auto Task Force has made the US automaker an attractive buy. GM, which has posted $2.2 billion in profits during the first half of the year, is expected to announce what analysts call “significant” third quarter profits in the next few days.

Wall Street expected to net billions from GM stock sale

The problem with most threads, or the premise of the threads of the Marxist's disguised as liberals is the premise is based on ideology, not fact.

Further the Marxist have not enough experience with the subject they speak of thus its easy to show as pure lies.

I happen to visit Michigan, I travel the world, and in Michigan I have a great friend in the Roofing union, my friend Chris talks with UAW members all the time. Chris said UAW members have been retired, the new hires come in at much lower wages, as told to Chris by the UAW, and shared with me, hence having experience in life easily exposes the fraud of Marxist propaganda.

It's Official: The Government Won't Be Getting Its Money Back From The GM Bailout

The UAW's bloated pension and healthcare exposures are now supported by their ownership stake in GM. In order to increase margins and support the legacy benefits exposures, the Union is now doing the thing that GM management wasn't able to do for sixty years - reduce wages. New employees and re-hired former employees are now placed into a lower "tier", receiving significantly lower wages and benefits than "legacy" union members and retirees. This is creating dissention within the UAW, whose newer members do not feel the same loyalty towards the organization due their decidedly "second class" status

Read more: It's Official: The Government Won't Be Getting Its Money Back From The GM Bailout

 

[Revere]

How much of GM's profits was from sale of products and how much from sales of GM divisions?

Keep going.

How much profitabilty is owed to $45B in tax deals Obama just handed them?

 

[Trajan]

I know people who have lived off their pension longer than they actually worked.

Do the math. It's unsustainable.

no its not...bend over...oops we already did....

 

[Alpha1]

Get real folks....the UAW will be the largest shareholders in the company once the government gets out of the way and it was GIVEN to them with taxpayers money....

The UAW is the company and just watch them screw the workers like unions have been screwing companys in the past.

“The UAW is cutting our wages while they are giving themselves a pay raise,” said one worker who is facing a wage cut. “The UAW is a business now. They have a foothold with billions in stocks and are getting more money from that than from our union dues. They are pushing workers aside because they have a bigger cash cow now.

“The union is busting the union. It’s just a matter of time before workers say they have to find something else. A lot of people don’t have any faith in the UAW. They get paid to protect workers but the workers have to fight for everything on our own, even simple grievances. All they say is ‘I’ll get back to you.’