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TheBreeze
ParticipantI think I’m going to become a realtor so I can tap into some of this government largesse. There’s no reason to work for a living when I can suck off the gubmint’ teat.
ParticipantI think I’m going to become a realtor so I can tap into some of this government largesse. There’s no reason to work for a living when I can suck off the gubmint’ teat.
ParticipantI think I’m going to become a realtor so I can tap into some of this government largesse. There’s no reason to work for a living when I can suck off the gubmint’ teat.
ParticipantI think I’m going to become a realtor so I can tap into some of this government largesse. There’s no reason to work for a living when I can suck off the gubmint’ teat.
November 17, 2008 at 9:41 PM in reply to: OT: The nail is on the coffin…UAW leader says no more concessions #306249Participant[quote=no_such_reality]
That’s cuase they report $73/hour in wages in benefits.
In reality, average wages are $28/hour.
Which means $45/hour are benefits. Medical, retirement, etc. That’s for the 350,000 employees and the ONE MILLION retires and dependents.
Which really means, GM has mismanaged the pension plans and is playing catch up.
So it’s $28/hour for the worker. Another $15 or so in retirement contributions and health coverage and another $10 for the 1st retiree, another $10 for the 2nd still living retiree, and another $10 for the third retiree’s still living dependents…[/quote]
I don’t think the problem is GM mismanaging their pension. Instead, the problem was the UAW negotiating outrageously generous retirement plans for their members. The people I know who are retired from the UAW have been retired since their 40’s. The UAW retirement plans are better than the militaries’.
The Big 3’s fate was sealed long ago when the UAW negotiated these overly generous pension plans. GM is essentially a smaller version of the U.S. Social Security System with more generous retirement benefits.
The same thing that is now happening to GM will happen to SS in the future. And it won’t be (totally) because of mismanagement. Nope, the main culrpit will be overly generous benefits that were fine when the base of the pyramid was wide but are unsustainable once the pyramid is inverted.
November 17, 2008 at 9:41 PM in reply to: OT: The nail is on the coffin…UAW leader says no more concessions #306616Participant[quote=no_such_reality]
That’s cuase they report $73/hour in wages in benefits.
In reality, average wages are $28/hour.
Which means $45/hour are benefits. Medical, retirement, etc. That’s for the 350,000 employees and the ONE MILLION retires and dependents.
Which really means, GM has mismanaged the pension plans and is playing catch up.
So it’s $28/hour for the worker. Another $15 or so in retirement contributions and health coverage and another $10 for the 1st retiree, another $10 for the 2nd still living retiree, and another $10 for the third retiree’s still living dependents…[/quote]
I don’t think the problem is GM mismanaging their pension. Instead, the problem was the UAW negotiating outrageously generous retirement plans for their members. The people I know who are retired from the UAW have been retired since their 40’s. The UAW retirement plans are better than the militaries’.
The Big 3’s fate was sealed long ago when the UAW negotiated these overly generous pension plans. GM is essentially a smaller version of the U.S. Social Security System with more generous retirement benefits.
The same thing that is now happening to GM will happen to SS in the future. And it won’t be (totally) because of mismanagement. Nope, the main culrpit will be overly generous benefits that were fine when the base of the pyramid was wide but are unsustainable once the pyramid is inverted.
November 17, 2008 at 9:41 PM in reply to: OT: The nail is on the coffin…UAW leader says no more concessions #306630Participant[quote=no_such_reality]
That’s cuase they report $73/hour in wages in benefits.
In reality, average wages are $28/hour.
Which means $45/hour are benefits. Medical, retirement, etc. That’s for the 350,000 employees and the ONE MILLION retires and dependents.
Which really means, GM has mismanaged the pension plans and is playing catch up.
So it’s $28/hour for the worker. Another $15 or so in retirement contributions and health coverage and another $10 for the 1st retiree, another $10 for the 2nd still living retiree, and another $10 for the third retiree’s still living dependents…[/quote]
I don’t think the problem is GM mismanaging their pension. Instead, the problem was the UAW negotiating outrageously generous retirement plans for their members. The people I know who are retired from the UAW have been retired since their 40’s. The UAW retirement plans are better than the militaries’.
The Big 3’s fate was sealed long ago when the UAW negotiated these overly generous pension plans. GM is essentially a smaller version of the U.S. Social Security System with more generous retirement benefits.
The same thing that is now happening to GM will happen to SS in the future. And it won’t be (totally) because of mismanagement. Nope, the main culrpit will be overly generous benefits that were fine when the base of the pyramid was wide but are unsustainable once the pyramid is inverted.
November 17, 2008 at 9:41 PM in reply to: OT: The nail is on the coffin…UAW leader says no more concessions #306648Participant[quote=no_such_reality]
That’s cuase they report $73/hour in wages in benefits.
In reality, average wages are $28/hour.
Which means $45/hour are benefits. Medical, retirement, etc. That’s for the 350,000 employees and the ONE MILLION retires and dependents.
Which really means, GM has mismanaged the pension plans and is playing catch up.
So it’s $28/hour for the worker. Another $15 or so in retirement contributions and health coverage and another $10 for the 1st retiree, another $10 for the 2nd still living retiree, and another $10 for the third retiree’s still living dependents…[/quote]
I don’t think the problem is GM mismanaging their pension. Instead, the problem was the UAW negotiating outrageously generous retirement plans for their members. The people I know who are retired from the UAW have been retired since their 40’s. The UAW retirement plans are better than the militaries’.
The Big 3’s fate was sealed long ago when the UAW negotiated these overly generous pension plans. GM is essentially a smaller version of the U.S. Social Security System with more generous retirement benefits.
The same thing that is now happening to GM will happen to SS in the future. And it won’t be (totally) because of mismanagement. Nope, the main culrpit will be overly generous benefits that were fine when the base of the pyramid was wide but are unsustainable once the pyramid is inverted.
November 17, 2008 at 9:41 PM in reply to: OT: The nail is on the coffin…UAW leader says no more concessions #306709Participant[quote=no_such_reality]
That’s cuase they report $73/hour in wages in benefits.
In reality, average wages are $28/hour.
Which means $45/hour are benefits. Medical, retirement, etc. That’s for the 350,000 employees and the ONE MILLION retires and dependents.
Which really means, GM has mismanaged the pension plans and is playing catch up.
So it’s $28/hour for the worker. Another $15 or so in retirement contributions and health coverage and another $10 for the 1st retiree, another $10 for the 2nd still living retiree, and another $10 for the third retiree’s still living dependents…[/quote]
I don’t think the problem is GM mismanaging their pension. Instead, the problem was the UAW negotiating outrageously generous retirement plans for their members. The people I know who are retired from the UAW have been retired since their 40’s. The UAW retirement plans are better than the militaries’.
The Big 3’s fate was sealed long ago when the UAW negotiated these overly generous pension plans. GM is essentially a smaller version of the U.S. Social Security System with more generous retirement benefits.
The same thing that is now happening to GM will happen to SS in the future. And it won’t be (totally) because of mismanagement. Nope, the main culrpit will be overly generous benefits that were fine when the base of the pyramid was wide but are unsustainable once the pyramid is inverted.
November 17, 2008 at 9:14 PM in reply to: FDIC Unveils Plan to Prevent 1.5 Million Foreclosures #306224ParticipantThis is pretty amazing. Has Chimpy lost complete control of his cabinet? How can Shelia Blair come out with this proposal on her own without the backing of her boss?
It looks like the Bush presidency is falling apart at the seams.
November 17, 2008 at 9:14 PM in reply to: FDIC Unveils Plan to Prevent 1.5 Million Foreclosures #306591ParticipantThis is pretty amazing. Has Chimpy lost complete control of his cabinet? How can Shelia Blair come out with this proposal on her own without the backing of her boss?
It looks like the Bush presidency is falling apart at the seams.
November 17, 2008 at 9:14 PM in reply to: FDIC Unveils Plan to Prevent 1.5 Million Foreclosures #306605ParticipantThis is pretty amazing. Has Chimpy lost complete control of his cabinet? How can Shelia Blair come out with this proposal on her own without the backing of her boss?
It looks like the Bush presidency is falling apart at the seams.
November 17, 2008 at 9:14 PM in reply to: FDIC Unveils Plan to Prevent 1.5 Million Foreclosures #306623ParticipantThis is pretty amazing. Has Chimpy lost complete control of his cabinet? How can Shelia Blair come out with this proposal on her own without the backing of her boss?
It looks like the Bush presidency is falling apart at the seams.
November 17, 2008 at 9:14 PM in reply to: FDIC Unveils Plan to Prevent 1.5 Million Foreclosures #306684ParticipantThis is pretty amazing. Has Chimpy lost complete control of his cabinet? How can Shelia Blair come out with this proposal on her own without the backing of her boss?
It looks like the Bush presidency is falling apart at the seams.
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