Just wondering who bought into the hype earlier this year? Certainly the market didn't, they don't call it Government Motors for nothing, and the share price reflects it. Has this company paid it's total debt off, products seem somewhat better except for the Obama car the Volt which has disappointing sales to say the least. What major concessions have the unions made? Will we be bailing out this company 5 or 10 years from now? I need to see more results from a turnaround before I will lay any money down on this one, should have gone to bankruptcy and restructured totally.
<<What major concessions have the unions made? Will we be bailing out this company 5 or 10 years from now? I need to see more results from a turnaround before I will lay any money down on this one, should have gone to bankruptcy and restructured totally. >>
Some of us find facts while others still post their hate.
Detroit 3 Salaried Labor Costs to Overtake UAW Hourly Costs, Researcher Says Automotive News November 29, 2011 by David Barkholz and Christina Rogers
For the first time in modern history, overall salaried labor costs next year at the Detroit 3 are expected to exceed those of all UAW-represented factory workers, says Sean McAlinden, chief economist for the Center for Automotive Research.
The center estimates that the Detroit 3's 66,000 salaried U.S. employees next year, earning on average at least $122,500 in cash compensation, will bring in slightly more total income than the carmakers' estimated 115,000 hourly workers earning about $69,000 each, McAlinden says.
Until 2009, hourly employment vastly exceeded salaried employment at the Detroit 3, said McAlinden, speaking on the sidelines of a CAR conference today on automotive labor in suburban Detroit. But plant closings and hourly attrition now has salaried employment accounting for about 37 percent of total U.S. employment at the Detroit 3, he said.
And? The point is salaried workers for the first time are making more than hourly workers, is this correct. Unless GM gets their costs in line that would be labor, and continues improving their car models which I will agree there have been but more is needed, this stock will go nowhere. Did you buy this in the 30's? Merry Christmas!! Good luck in holding this stock.