30,000 Union Workers have taken the Ford Buyout
- Thread starter mzkhadir
- Start date
How can they keep operating at this rate? Something is seriously wrong with the American car companies. Hurray for unions! :roll:
Also, lets say the average payout was $50,000 to each worker (that includes the cost of health ins., education funds, and sallary). 30,000 * 50,000 = $1,500,000,000. That's a lot of cheddah
Originally posted by: crystal
That is much better than 7,000,000,000 lost in the first nine month of this year.
this is 1/2 of their U.S. work force, aka, a ****** ton.
they can continue operating this way because they have 31 billion in liquidity (i think this is the right term)
they just took out a 18 billion dollar mortgage.
They should change their corporate name to ford.com, move back to 1997, and everyone would jump on them.
A company going out of business doesn't have anyone's interests at heart, aside from competitors.
Yeah, you do understand what is sinking the American Auto Companies right? The union contracts relating to healthcare. The Big 3 wont be around in 10 years unless something changes.
Yahoo for unions, miscalculating the global economic impacts on labor for over 30 years!!!! It's nice to watch people blindly resisting change until they are simply out of jobs completely. Do you want to discuss the number of companies that the unions have driven into the ground or out of the country in the last few decades? I guess that pot does have an affect on the hippy mind.
I blame the absolutely insane amounts American companies pay their CEOs and officers...
I think GM officers all got $20million+ bonuses for 'staying on board' a company they are responsible for ruining. How the fvck does that 'maximize shareholder equity?'
I refuse to believe any ONE person at a company is worth more than 400 individual employees... unless the 400 individual employees are completely unskilled.
I think GM officers all got $20million+ bonuses for 'staying on board' a company they are responsible for ruining. How the fvck does that 'maximize shareholder equity?'
I refuse to believe any ONE person at a company is worth more than 400 individual employees... unless the 400 individual employees are completely unskilled.
Squisher
Lifer
- Aug 17, 2000
- 21,204
- 66
- 91
Buyouts are being offered in many flavors.
Typically:
30 or more years of seniority $50K and retire.
26 or more, get retirement wages until you get 30 then retire.
less than 26 more than 10, $100K and sever employment
less than 10 years, $70K and sever your employment
more than ten years, half your wages and all benefits for 4 years and $15K per year for those 4 years toward tuition assistance then sever employment
I might be offered a buyout in another month of so. I'll have some serious choices to make.
Typically:
30 or more years of seniority $50K and retire.
26 or more, get retirement wages until you get 30 then retire.
less than 26 more than 10, $100K and sever employment
less than 10 years, $70K and sever your employment
more than ten years, half your wages and all benefits for 4 years and $15K per year for those 4 years toward tuition assistance then sever employment
I might be offered a buyout in another month of so. I'll have some serious choices to make.
Not putting emphasis in employees is what is ruining this nation. Corporate greed has taken over and employees are being treated like disposable commodities.
A happy employee is a productive one. It isn't that hard or anything, but CEOs seem to lack that in their arsenal of knowledge.
Judging by your user name I bet you think all corporations are out to make a buck even if it means raping the employees. Yes, I do work. I have been working for a while. I work for a great company, probably the best I will ever work for in my entire life.
Here is my take. The "company" has changed in the past decade, most realize that the happier the employees, the more productivity they get from them. My company is very generous, too generous IMO. Example: The non-salary employees get PBP (performance based pay). It was created to give hard working emplyees a nice bonus to congratulate them. Well that was not good enough. The lazy employees whined and complained (almost sued) over this, now ALL non-salary employees get PBP. We used to vote on the best employee from your own department and they were given an award ($500), well people whined and complained about it and they took it away as well (now every employee gets $50).
The unions are destroying most companies, they are run by people who only want the best for themselves and could give two shits about whats in the best interest for the company AND its employees. If they don't like something, they strike until they get what they want. Now, I can see about 30 years ago employers were,mostly, taking advantage of their employees but now it seems to be the opposite. Employees want more money for less work and if they don't get their way, they sue or strike.
Oh and you can stick it if you think large corporations treat employees unfairly. Try working for a small company. Every small company I have worked for, I was made to work my butt off with no overtime pay or bonuses for hard work. Christmas bonus, yearly raise, 401k, pension, 100% tuition, 100% insurance, Performance Gainshare, Birthday bonus, 2 - 4 weeks vacation; yeahhhhh working for a large corporation is great
Healthcare is the single costliest thing for Ford, GM, and Chrysler right now. Its not the current CEOs and execs that ruined these companies. Its the ones that agreed to the last round of union contracts.
It is all about responsibility. Think about it, you are in charge of running a multi-billion dollar company with tens of thousands of employees. The people who can even begin to grasp what means it takes to do this is very rare, that is why they are paid millions of dollars. They work insane hours and are away from their families most of the time and have stress levels that won't even compare to ours.
foghorn67
Lifer
- Jan 3, 2006
- 11,883
- 63
- 91
Ummm, exec pay is a drop in the bucket. Stop the anti-capatalism attitude nonsense.
And yes, the auto industry is filled with non-skilled workers. You should ask yourself why unionized non-skilled workers make a ton more then their college educated middle managers.
Originally posted by: jhayx7
Judging by your user name I bet you think all corporations are out to make a buck even if it means raping the employees. Yes, I do work. I have been working for a while. I work for a great company, probably the best I will ever work for in my entire life.
Here is my take. The "company" has changed in the past decade, most realize that the happier the employees, the more productivity they get from them. My company is very generous, too generous IMO. Example: The non-salary employees get PBP (performance based pay). It was created to give hard working emplyees a nice bonus to congratulate them. Well that was not good enough. The lazy employees whined and complained (almost sued) over this, now ALL non-salary employees get PBP. We used to vote on the best employee your own department and they were given an award ($500), well people whined and complained about it and they took it away as well (now every employee gets $50).
The unions are destroying most companies, they are run by people who only want the best for themselves and could give two shits about whats in the best interest for the company AND its employees. If they don't like something, they strike until they get what they want. Now, I can see about 30 years ago employers were,mostly, taking advantage of their employees but now it seems to be the opposite. Employees want more money for less work and if they don't get their way, they sue.
Oh and you can stick it if you think large corporations treat employees unfairly. Try working for a small company. Every small company I have worked for, I was made to work my butt off with no overtime pay or bonuses for hard work. Christmas bonus, yearly raise, 401k, pension, 100% tuition, 100% insurance, Performance Gainshare, Birthday bonus, 2 - 4 weeks vacation; yeahhhhh working for a large corporation is great
I agree with most of what you said. But I do have a different take on treating employees "fairly". I would argue that this PBP that you were talking about is "fair", but not "equal". Bad employees want to be treated equally and good employees want to be treated fairly.
In my experience, whether it be fear of legal action or just plain old lazyness, big corporations try to treat people equally (which I don't think is the same as fairly).
Oh yeah, Ford, GM, and Chrysler are raking in the big bucks.... Its not like these companies are unfair to their employees. There employees are extremely HIGH paid for the jobs they do. On top of that they have overly generous retirement/healthcare packages.
It's not corporate greed killing the Big 3, its Union Greed and bad negotiations on top of bad negotations.
Squisher
Lifer
- Aug 17, 2000
- 21,204
- 66
- 91
Where to start?
Although I see daily the disadvantages of unions when it comes to under-performing employees I cannot say that that is the greatest downfall to the company. I would say that departmentalization and short sighted thinking by management are a much bigger impact.
Company officers pay gone up something like 200 fold since the early '70's. The average pay of an American dwarfs the pay of a Japanese rival whose company is outperforming the Americans by 200 fold.
Although I see daily the disadvantages of unions when it comes to under-performing employees I cannot say that that is the greatest downfall to the company. I would say that departmentalization and short sighted thinking by management are a much bigger impact.
Company officers pay gone up something like 200 fold since the early '70's. The average pay of an American dwarfs the pay of a Japanese rival whose company is outperforming the Americans by 200 fold.
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