"I don't think so Jeye. In order to take the pension assets they also have to assume responsibility for the unfunded portion of the pension."
Yes I know Justum. But at the time GM pension fund was funded higher % than the PBGC pay out
Let hope rdh-web has a pension and the companies takes his posting time out of it. At the time of GM Bankrupcty GM pension were under funded, but the Plan was still funded at a higher % then the Government pays out .At time GM pension fund one of the biggest plans in America and the Government wanted the money
Justum, I'm sure GM UAW labor cost is a little higher today with added employees since this story.
September 29 2011
The deal cuts GM's factory worker labor costs to $5 billion per year, less than a third of the $16 billion the company paid in 2005, Chief Financial Officer Dan Ammann said. The figure was $11 billion in 2007, as the company headed into bankruptcy protection and needed a government bailout to survive.
The United Auto Workers union said Wednesday that 65 percent of production workers voted for the deal, while 63 percent of skilled-trades workers such as electricians were in favor. Voting by GM's 48,500 blue-collar workers ended on Wednesday.
.aol dot kom/articles/2011/09/29/general-motors-workers-ratify-new-labor-contract-promising-th/
"Then you can't compare that number to world wide sales of $150 billion, not apples to apples"
Agree. They say the average transaction price is now over $30,000 x 2.7 million Is still around $81 billion
"I need to see that story Jeye. Can you give me a reference. That works out to about $20k per person."
I've been looking it was about the time of the IPO. He was just talking about the UAW here.
questinator, I've seen a story that GM direct labor cost was just under $5 billion a year with $150 Billion in sales. The story had Dan Akerson saying it. I'm sure with Ford and GM the Ad cost is close to or more then labor. The crimanal stock market playing their games in GM and Ford. I understand Gasoline went up 30 cents a gallon in Bay City Michigan. Just got off the phone with family.
Let talk about what happened to McDonalds today since they have stores in Japan.Their earning were hurt by the weak YEN currency. You have to learn a lot jobs are determined or added because of that country currency. If Japan currency stay weak they wouldn't have one plant here. When their currency got stronger their exporter screamed and threanted their Government to leave. Well when Abe took over the Japanese currency has went from 76YEN to the Dollor to today over 104 in just one year Fact Google it
Yes they are talking Capital Gains before the Obama Care Tax on them.
Thanks to the Japanese manipulating their Currency, now 28% weaker in just one Year.
Honda bets big on small Vezel crossover, eyes turbo for U.S.
Honda is ready to take a run at one of the auto industry's fastest-growing segments in the United States: compact, sporty crossovers. The Vezel -- a small crossover based on Honda's redesigned Fit subcompact -- goes on sale in Japan on December 20 and in the United States in the second half of 2014.
Traders taking Gains in GM before Obama Care tax kicks in and taking their loses in Gold.
Plus check the energy trading getting their Christmas Bonus from the Consumer.
Just keep bending over and let Wall Street keep sticking it in.
"Buffett spent $44B on BNSF railroads alone so it's not as if nobody had money"
Thanks for bringing up Buffett he was also smart enough to buy GM in the low $20. He also bashed Gold holders
Japan’s military inventory, to be expanded over the next five years, will include three unmanned drones, 28 F-35A fighters, 17 Osprey aircraft, and five naval destroyers, including two with Aegis antiballistic-missile systems. The guidelines include an additional six submarines, taking its total to 22.
Japan, the world’s sixth-biggest military spender for the past two decades, will set aside 23.97 trillion yen (US$232.4 billion) to fund the expansion, up from 23.37 trillion yen from the previous five years
He does a good job of doing that. Just look at his GM stock price, GM 2013 Truck inventory and his Gold and Silver predictions
"Wrong, you moron."
rdh-web calls other posters a Moron, when he predicted Gold would be $2200 by Oct 2012 now on Dec 18 2013 its $1218