Quote:
Originally Posted by kylepo
CURRENT UAW workers hourly pay is around equal to the transplants. DO a search anywhere and you will find this to be true. I’m betting you are thinking about the 70 dollar and hour figure that many were throwing around. But that is divided by all retirees compared to the transplants current work force because they have virtually no retirees. And refer to my other post on who would provide chap 11 financing even though that is a non issue because chap 11 would lead to chap 7 liquidation.
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So you first appear to be the expert, but still can't provide evidence to your assumptions that the FED would finance Chapter 11. Which is exactly what I figured would happen but remain optimistically hopeful that you will still help me to get that clue.
Chapter 11 may very well cost GM more than the government is financing them. But that cost would be GM's not the Fed's. And it would certainly cost them less then the debt that currently appears on the balance sheet. Otherwise what would be the point.
Who do you think is responsible for the $70.00 average cost when you consider the hourly retirees and others still collecting on the system. The UAW and GM is to blame for this unsustainable policy, which again only sustains the points I made. The same one you disputed. You assumed I was talking about the average worker making $30.00 per hour on his paycheck. But here again your assumptions were wrong. I was looking at it from a higher level which is to say the same way management would analyze that expense on their balance sheets.
I'm unsubscribing from this thread. Please feel free to educate me via private message as I may be guilty of fanning the flames on this one.