GM to cut 10,000 jobs, reduce white-collar pay 10%
The death spiral continues while the GOP whistles past the graveyard.
General Motors Corp., the largest U.S. automaker, will cut 10,000 salaried jobs globally and reduce pay for other U.S. white-collar workers by as much as 10 percent to slash costs and keep $13.4 billion in government loans.
About 3,400 of GM’s 29,500 U.S. salaried jobs will be cut by May 1, the company said. The Detroit-based automaker said in a statement it will cut pay temporarily by 10 percent for U.S. executives and by 3 percent to 7 percent for many other U.S. salaried employees. GM is reviewing salaried worker pay and benefits in other countries.
GM needs to accelerate cost-cutting plans after the automaker’s U.S. auto sales fell 49 percent in January. GM and Chrysler LLC must submit progress reports by Feb. 17 on their efforts to restructure their businesses, return to profit and repay $17.4 billion in U.S. loans by the end of 2011.
Soon the GOP will find itself DOA as more american turn against their incompetence in the face of this crisis.
All that's left is a group of complicit criminals at this point. Now they're making a clear case for their ejection from their seats in Congress by becoming obstructionists to the future of this country.
They've taken a posture which is akin to treason by placing the entire future of the american people at stake.
If all you read are progressive blogs you may believe this but...
1)The Republiscums have the mass media on their side and public opinion is very pliable.
2)Rank and file Republicans are not swayed by either logic or facts. When a questioner at the recent town hall meeting implied that PRESIDENT OBAMA was a newcomer to America it illustrated the power of disinformation and stupidity.
3)Rank and file Republicans have consistently supported party positions that weakened them financially and personally while enriching the usual suspects. They vote for slogans and against imaginary enemies (Jews, Mexicans, Blacks, Gays and Liberals).
4)The only Democrat/Progressive with the popularity to push back against Republiscum lies has made bi-partinship a two edged sword. Obama must seek it but cannot produce it as long as these traitorous Conservatives put party fortunes (aand their donor's) ahead of the good of the nation.
Remember, it is always easier to gain power if you don't care who gets hurt while you grab it. And the Republiscums don't care if America is a smoldering hole in the ground...as long as they cintrol it.
The best lack all conviction, while the worst
Are full of passionate intensity.
Obama caused all these problems. It's Obama's fault! That is what a Repugnant told me.
In California, 20,000 threatened in state layoffs.
I can't recall what phraseology Boxer used but she nailed it when she labeled those opposing or obsructing the people's future and it sounded technically like treason.
Bloomberg here says GM and Chrysler may be forced into bankruptcy.
This to protect, relative to the Banksters heist, the measly $17 billion the car companies have gotten.
I repeat the question du jour:
Does the Treasury plan on doing a meticulous audit of the bailed out banks?
Because, if not, we are being flim flammed.
Amy Goodman with James Galbraith.
Economist James Galbraith: Bailed-Out Banks Should Be Declared Insolvent
Here
statusquObama, change you can only pretend in
I certainly can't see the government allowing any kind of serious audit on the the bail outs.
It would show how much complicity there is between them. It's the largest theft to ever be perpetrated and it's happening right in plain sight.
you are right.
We are being screwed.
Keep up your posts.
Until you are silenced.
General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program
According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."
http://www.laht.com/article.asp?CategoryId=12...
I pledge allegiance to the Constitution of the United States of America, and to the republic which it established, one nation from many peoples, promising liberty and justice for all
That was proven to be false.
My Xbox Live gamertag/PSN ID is tifosiotaku. Shoot me a PM if you add me to your friends list, thanks!
reduce pay for other U.S. white-collar workers by as much as 10 percent to slash costs and keep $13.4 billion in government loans.
Does anyone know if this means that the loan is only guaranteed with the condition that GM trims costs? It sounds to me much like what the IMF and the World Bank are so fond of doing. Giving their loans but insisting that countries cut "unnecessary" costs. Things like education, public health, food subsidies etc.
DATABASE ERROR
its good to cut salaries to save costs. it would be better to cut some hours and pay from some, so that others can keep their jobs. better to have a little less hours and a little less income than none at all. it is a temporary thing anyway.
its pretty gross to keep seeing big truck and SUV ads on TV all the time still. these car companies will not learn....
major political party has been hijacked by those who, at base, hate the constitutional and legal framework of the country in which they plunder and pillage and also their fellow citizens, then all of this makes perfect sense. The republican party of Bush, Cheney, Limbaugh, Robertson and Buchanan (to name of few) and their crypto-fascist acolytes (swing a dead cat and you'll nail more than you can count) are filled with self-loathing both for themselves and their country and will always seek out the less powerful and less resourced to stomp with their jackboots. Everything is a war, all public programs are to be resisted and only god-fearing conformists, jingoistic cheerleaders and war mongers are welcome. Stay in the tall grass.
"Secular humanism -- a fearless, realistic world view replete with doubt and scepticism that attempts to attain an unachievable state of equilibrium between and among the human qualities of reason, intuition, imagination, memory, ethics and common sense.
He would bring the National Guard and Army back to the United States A.S.A.P.
Shit is going to go down very poorly when the food riots start. Stupid Middle Class Americans will be blowing each other away in the streets and there will be NO Army or National Guard to put the peasants/Middle Class back in line.
I was thinking similar. The next year or two is going to be really nasty.
I know I've mentioned it before, but since C & L is where I first found out about it, has anyone else read James Kunstler's "The Long Emergency"?
First, it's not just going to be the next year or two.
Second, a lot of the dire projections he made just four years ago about our economy (mostly based on competition for declining energy resources) have started to happen.
We've already started to see suburbanites committing suicide over job losses, for example, and wild, counter-intuitive swings in the price of energy (oil going from all-time highs to lower than recent average in a matter of months, while gas continues to climb).
It isn't going to be pretty--it's *already* not pretty.
So, you're advocating that the army and police kill/arrest/subdue the people who've been totally screwed by the corporate elite and their government. You really want to see what a police state looks like first hand? I love the "peasants/middle class" bit, so elitist of you.
Why is the shit going to go down? Could it be because all the bankers and the corporate robber barons and the politicians got together and decided to really lay the boots to the stupid sheep?
please dont worry about riots! if it hasnt happened by now it only means the americans have become wusseys anyway! besides thiers day old bread stores for a cheap hearty meal , and quite possibly some more of that great surpluss cheese and cornmeal the government used to hand out to the needy , jesus will provide , perhaps someone will srike a rock with a staff and honey will flow like a river to go along with that surpluss butter and the day old bread! i know i for one now thiers a well thought up sentence ,am hopefull certainly thiers going to be change in one form or another!
and it isn't going to be pretty. Then the world will see with eyes wide open, just who the politicians really work for.
Here in Erie we're home to the transportation division making locomotives. We are over 10% of the layoffs. Hey Lindsey Graham, I got an idea, lets make sure that stimulus bill doesn't pass because you weren't involved enough. You crying little bitch.
is intended to be a factual statement
You know, Chrysler still can bring back DeSoto, Ford can still bring back Edsel and GM can still resurrect Oldsmobile ( not that there is currently any plans to do so ) but more appropriate grave site partner imagery would be Studebaker and Packard.
If I were running GM, I would buy that little bank in Texas that still has the remnants of Studebaker's name ( Studebaker-Worthington ) and use that brand to launch the new line of electric vehicles. Think about it for a second. Would you want a Chevy Volt or a Studebaker Tesla! I'd buy the Studebaker in a heartbeat! Of course, I'm partial to Studebakers, I own three, here's one now:
http://www.dottygale.com/p1x/my_57_stude_11_m...
Those would sell like hotcakes!
I've often said the saddest thing about the American car designers is their lack of creativity, their pumping out cars, year after year that look like every other car on the road.
Remember when we kids could all tell a Ford from a Chevy? Remember the styles like the old Nash or Crosley?
I bought an Edsel once. Wonderful car. And I've owned two Ford t-birds. 1960, but they were excellent.
Now I drive a Mini Cooper yellow convertible 'cause it's so much fun to drive and it doesn't look like every other piece of bland crap on the road.
I LOVE that Studebaker!
My daily driver is a PT Cruiser. There's no mistaking one of those for anything else on the road.
It's time to bring back fender spears and fins!
It's getting so you can't tell a Nash from a Crosby.
; )
WHile my ex and I owned Hillmans (7 to make 4) Studebakers were the dream car. The header of this post was the call when one was spotted. Avantis and Presidents got a special double salute. And we had these fab dealers' posters with the "Coming and going" Stude models.
My mom's first honeymoon was in a brand new Stude...
me-oww!
Yes, I have one of those too.
http://www.dottygale.com/p1x/my_63_stude_08.jpg
and a Lark
http://www.dottygale.com/p1x/my_61_stude_05.jpg
My grandmother had one of these. It was forest green. Best. Car. Ever.
a President? *swoon*
On Edit: I mean Starliner? It gets the double for cleanliness.
me-oww!
with a naturally aspirated 289 and two gear automatic transmission.
too sweet. Really. Nothing like a set of clean Studes to make my day. My landlord has a sherbet coloured Pres -- or had, I haven't seen it in years -- it might be the one in the garage, but I think it his Buick -- I can't really see much.
Was a two gear automatic transmission stock?
Thanks for the treat!
me-oww!
It starts in second gear unless you put into L
It's PNDLR ( I think ) on the tree
We gave What to Whom TO save jobs in this country!!!!!
Looks like they will do the same as they have been doing and the financial institution did with our money they were given... They are going to invest , build more overseas and cut jobs and salaries here...
Tell me again,,,, how did the funds from the bail out that was placed on a credit card for our great grandchildren help save our jobs and salaries..
The money has been and still is going OVERSEAS. The same d... place corporations have been sending their manufacturing plants , jobs and investment for the last 10 plus years...
This is all about Monopoly (Globalization) of corporations for wealth , power and control of the world.... Looks as if all the leaders are joining the corporate globalization for power and dominance of the world..
None
If it helps bust unions and weaken the labor movement, it's a roaring success in their book. So much the better for all those southern states with foreign car companies employing southern workers, with no pesky unions.
Single payer health care would help businesses all across our economy because our current system costs too much and delivers too little.
House Bill H.R. 676 - Medicare for All is out there. Needless to say, you're not going to see a lot of corporate media coverage of it, unless the public is otherwise independently aware of it.
More information at http://www.hr676.org/
In fact Republicans blame unions for all the problems in this country-
Thank Odin Obama is president and not McCain- McCain would let US industry fail, and would blame the workers,
whistlin past the graveyard
steppin on a crack
i'm a mean motherhubbard
papa one eyed jack
you propably seen me sleepin
out by the railroad tracks
go on and ask the prince of darkness
what about all thet smoke
come from the stack
sometimes i kill myself a jacket
suck out all the blood
steal myself a stationwagon
drivin through the mud
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