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Thread: Really So Serious meh?

  1. #21

    Default Re: Really So Serious meh?

    actually, the bigger problem, more than management is the UAW (united auto workers union). I have been waiting for people to really bring this up since unions are a sensitive issue in the states. I have been in negotiations with unions and it is tough. however, i will say this, unions are a good thing when they provide within reason. I was in a union, and had a $1 raise every six months. I wondered how will my employer afford me. I saw my fair wage as being one rate, but unions pushed up my wages so much more than what I though my market rate should be. The real problem is irresponsible unions more then management. but i would rather have free and independent unions that give me a voice and give power as opposed a "proxy" union. nonetheless, the way i see it maggie thatcher lives on in that this will eventually break unions in the states the same way unions were broken in the UK back in the 70's-80's.

    if the 3 fall cars will become dirt cheap. iron demand drops, rubber demands drop, steel demands drop and along with those prices will drop. there are just too many forces working against the auto industry. Although I do eventually think iron and steel will be good to put money into. high-speed trains moving across america will happen sooner than later once the country looks harder into the benefits hi-speed rail has given europeans. alternatives are always there once people stop trying to save their own arse and look at the greater good. as innovative as america is, it needs to look to germany for rail, and to look at france for nuclear power. and maybe most important of all, america needs to look to asia regarding finances. it's pretty widely known that people in asia try to avoid buying on credit keeping things liquid. in the states, everything is on credit and as we all are witnessing, credit is a risk that when it goes bad can really freeze things to a standstill.
    we'll get through it guys. the best thing to do right now is to take care of your own house because soon, finding someone to help you might be impossible.

    as always, keep smiling

  2. #22
    Senior Member denniskee's Avatar
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    Default Re: Really So Serious meh?

    heard from radio, iirc, those retired will still get 3k/mth + other benefits. dont think japs and korean car makers has these kind of benefits. so, question is, should they stop these?

    to us, it may seem very logical to remove these benefits, but they are brought up in that environment, so to them, it is totally not acceptable.
    photography makes one sees things from all angles.

  3. #23

    Default Re: Really So Serious meh?

    The bigger concern right now is the failure of GM, Ford and Chrysler. GM head has already admitted that if GM fails to secure any funding, they will run out of cash as early as January. In the same interview, he also said that if the domestic auto industry is allowed to fail, study shows that 3 mil workers will be affected and govt will stand to lose 156 bil in tax revenue. These does not include supporting the displaced workers with social security.

    In the last quarter, Ford used up 7.7 bil and GM burned thru 6.9 bil in the same quarter. If the same spending habits keeps up thats like 2 billion a month for each automaker. How to sustain ?

  4. #24

    Default Re: Really So Serious meh?

    GM has been losing money for the past years and previously did away with the medical package for retired workers and now another big hole to cover ~

  5. #25

    Default Re: Really So Serious meh?

    And it's also CEO's greed and absolute disregard to employees and the company.


    http://news.moneycentral.msn.com/pro...119&id=9392602


    GM, Ford CEOs Go Begging - in Private Jets

    November 19, 2008 11:54 AM ET

    If you're planning to beg Uncle Sam for $25 billion, it might be smart to brush up on your poor-boy act first.

    The CEOs of General Motors (GM), Ford (F) and Chrysler overlooked this basic fact when they flew to Washington in private jets to testify before Congress.

    "We want to continue the vital role we've played for Americans for the past 100 years, but we can't do it alone," GM's CEO Rick Wagoner told the Senate Banking Committee.

    Tom Schatz, president of a watchdog group called Citizens Against Government Waste, huffed: "This is a slap in the face of taxpayers. To come to Washington on a corporate jet and asking for a handout is outrageous."

    You'd think that insight would rate a "Well, duh" - but apparently not from the auto industry's top dogs.

    Wagoner's trip to Washington in a G4 private jet cost his struggling company an estimated $20,000 roundtrip. A commercial flight booked online would have cost about $576 for coach and $1,674 first class round trip.

    Sure, sure - a CEO's time is more valuable than gold, but there are cell phones and e-mail to keep in touch with the galley slaves back in Detroit and electronic gizmos work on commercial flights and even in airport terminals or taxis.

    Ford CEO Alan Mulally's $28 million pay package includes the use of a private jet. He lives in Seattle and the company jet zips him home on weekends, ABC News reports.

    You'd think avoiding the "let 'em eat cake" trap would be Public Relations 101. But maybe the auto industry CEOs are so accustomed to their perk-filled nether world that they simply don't understand how a little thing like flying on a private jet to ask for a handout looks to the working stiffs of America.

    The CEOs at Detroit's (formerly) Big-3 automakers could benefit from a lesson in PR smarts from Goldman Sachs (GS).

    Seven top Goldie executives, including CEO Lloyd Blankfein, are giving up their bonuses for 2008. It's a move that's sure to keep the press, members of Congress and other pests off their backs after participating in Uncle Sam's $700 billion bailout plan.

    That creates the appearance of shared sacrifice - and here's betting that life goes on if you forgo a private jet and take a commercial flight.

    Perhaps the auto industry takes its cues from Lloyds TSB (LYG), which plans to spend an estimated 2.5 million, or about $3.7 million, on Christmas parties for its staff after pocketing a hefty 5.5 billion government handout.

    Or AIG (AIG), another company that's benefited from Uncle Sam's handouts. In a brilliant move sure to win the hearts and minds of Joe and Jane Sixpacks everywhere, AIG officials spent $440,000 on a retreat at the St. Regis Monarch Beach Resort in Southern California after pocketing a taxpayer-backed bailout. Four AIG top dogs followed up by traveling to England to go partridge hunting. The cost: A mere $87,000.

    Can the auto industry's top execs top that?

    Well, they're off to a flying start.

  6. #26
    Member TheQuestion's Avatar
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    Default Re: Really So Serious meh?

    Quote Originally Posted by Nisa View Post
    but when does the handout stop?
    US cars are not exactly the top sellers around the world...

    yeah it is THAT SERIOUSLY BAD!
    anyway why u care if the handout continue? not your tax dollars ma
    Opinions are like A-holes. Everyone's got one.

  7. #27

    Default Re: Really So Serious meh?

    And yes, really quite serious

    What if GM goes broke?

  8. #28

    Default Re: Really So Serious meh?

    Quote Originally Posted by TheQuestion View Post
    anyway why u care if the handout continue? not your tax dollars ma
    I care, because I am me.

  9. #29
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    Default Re: Really So Serious meh?

    Quote Originally Posted by happyshot View Post
    actually, the bigger problem, more than management is the UAW (united auto workers union). I have been waiting for people to really bring this up since unions are a sensitive issue in the states. I have been in negotiations with unions and it is tough. however, i will say this, unions are a good thing when they provide within reason. I was in a union, and had a $1 raise every six months. I wondered how will my employer afford me. I saw my fair wage as being one rate, but unions pushed up my wages so much more than what I though my market rate should be. The real problem is irresponsible unions more then management. but i would rather have free and independent unions that give me a voice and give power as opposed a "proxy" union. nonetheless, the way i see it maggie thatcher lives on in that this will eventually break unions in the states the same way unions were broken in the UK back in the 70's-80's.

    if the 3 fall cars will become dirt cheap. iron demand drops, rubber demands drop, steel demands drop and along with those prices will drop. there are just too many forces working against the auto industry. Although I do eventually think iron and steel will be good to put money into. high-speed trains moving across america will happen sooner than later once the country looks harder into the benefits hi-speed rail has given europeans. alternatives are always there once people stop trying to save their own arse and look at the greater good. as innovative as america is, it needs to look to germany for rail, and to look at france for nuclear power. and maybe most important of all, america needs to look to asia regarding finances. it's pretty widely known that people in asia try to avoid buying on credit keeping things liquid. in the states, everything is on credit and as we all are witnessing, credit is a risk that when it goes bad can really freeze things to a standstill.
    we'll get through it guys. the best thing to do right now is to take care of your own house because soon, finding someone to help you might be impossible.

    as always, keep smiling
    yeap uaw and crapo management effectively killed gm
    Opinions are like A-holes. Everyone's got one.

  10. #30

    Default Re: Really So Serious meh?

    Quote Originally Posted by TheQuestion View Post
    japan won't be in as much trouble as america they have lean manufacturing processes and other cost cutting measures they've mastered. besides they had a almost decades long recession in the 90s so they're prob prepared for this.
    I don't think this is the case. The US is one of the biggest consumers in the world. Excesses and all.... this is failing right now and everyone that is a producer in the world (Including China and Japan) are falling behind in the slack demand. If there's lesser demand with the US economy in recession and no other demand comes in to take the slack, then where are the products going to go ? This is not just cars, it's TVs, computers, fridges etc. The Japanese car makers already have a market in the US. If the US car makers go, it's not because the cars are sucky or bad, it's because there's no demand. And that is not going to be something contained within the US as it is the world's single largest importing consumer.

    Go check out the news in China on the droves of factories that are closing. This is all related to demand from the US crashing. The billions of yuan pumped back into China is trying to drive internal demand. Singapore government is also trying to drive demand. To cut a long story short, no demand, no need for products, no need for products, no revenue for companies, no revenue for companies, no need for employees.

    It's happening in our backyard. Check this piece of news.

    http://www.sg-house.com/about579630.html

    800 people at one go. US company producing out of Singapore and sanctioned by the EDB. What has demand drop in US have to do with Asia ? LOTS !

    I am not trying to scare anyone, but the going is going to get tougher for a while before the world economy is going to recover.
    Snap ?

  11. #31

    Default Re: Really So Serious meh?

    Quote Originally Posted by TheQuestion View Post
    anyway why u care if the handout continue? not your tax dollars ma
    US handouts are supplied from budget deficit and that is on borrowings from rest of the world. I think the governments of the world (Including SG) have lots of vested interest in "assets" in US. i.e., countries produce for US to consume and get US $ in return. These US$ ends up back as "assets" in the US, like property, funds, US bonds etc..... frankly, all these have values that just took a nosedive.

    I think it affects us. Not very directly though.
    Snap ?

  12. #32

    Default Re: Really So Serious meh?

    Quote Originally Posted by happyshot View Post
    if the 3 fall cars will become dirt cheap. iron demand drops, rubber demands drop, steel demands drop and along with those prices will drop. there are just too many forces working against the auto industry. Although I do eventually think iron and steel will be good to put money into. high-speed trains moving across america will happen sooner than later once the country looks harder into the benefits hi-speed rail has given europeans. alternatives are always there once people stop trying to save their own arse and look at the greater good. as innovative as america is, it needs to look to germany for rail, and to look at france for nuclear power. and maybe most important of all, america needs to look to asia regarding finances. it's pretty widely known that people in asia try to avoid buying on credit keeping things liquid. in the states, everything is on credit and as we all are witnessing, credit is a risk that when it goes bad can really freeze things to a standstill.
    we'll get through it guys. the best thing to do right now is to take care of your own house because soon, finding someone to help you might be impossible.

    as always, keep smiling
    Well said. And keep shooting photos.
    Snap ?

  13. #33

    Default Re: Really So Serious meh?

    Quote Originally Posted by ianwurn View Post

    It's happening in our backyard. Check this piece of news.

    http://www.sg-house.com/about579630.html

    800 people at one go. US company producing out of Singapore and sanctioned by the EDB. What has demand drop in US have to do with Asia ? LOTS !
    .
    Thank you.
    That's my point too.

  14. #34

    Default Re: Really So Serious meh?

    Quote Originally Posted by Nisa View Post
    Thank you.
    That's my point too.
    Bro. I am in that industry. We are supposedly really really front end, but scores of my ex-colleagues and frens are losing their livelihood man. These are Singaporeans like you and me. It's bleaker than the ST wants to print.

    Balls dropping all over the floor really. Ha....

    Next prediction, pull back in our entertainment industry : pubs, restaurants, shopping.... ain't going to be a good Christmas and New Year.

    If you have something to buy, wait till Q1 end of 2009. The sales will be good when companies see their cash flow slow to a stop and get stuck in stocks that is chalking up warehousing costs.

    Have you seen oil prices dipping in winter ? Not for many years.... I am just wondering which industry is not going to be affected. Teaching perhaps ? lol....
    Snap ?

  15. #35

    Default Re: Really So Serious meh?

    Effect on the maritime industry -
    Since the world is consuming less, there will be less containers to ship. As we are an entrepot hub, this will directly affect PSA and shipping support companies here in Singapore. NOL has already started retrenching.

    As for the shipbuiding industry, the effect would be a huge slowdown in new orders as present fleet of ships around the world will be able to cope with shipping demand. Also, as the world slows down, oil consumption falls. This will ease the pressure to find new oil fields / supplies to meet demand. Coupled with crude price tumbling, oil exploration companies will think twice about committing $ to look for new oil fields around the world. This will impact oil rig builders like Keppel and Sembawang.

  16. #36

    Default Re: Really So Serious meh?

    Quote Originally Posted by zero o View Post
    Effect on the maritime industry -
    Since the world is consuming less, there will be less containers to ship. As we are an entrepot hub, this will directly affect PSA and shipping support companies here in Singapore. NOL has already started retrenching.

    As for the shipbuiding industry, the effect would be a huge slowdown in new orders as present fleet of ships around the world will be able to cope with shipping demand. Also, as the world slows down, oil consumption falls. This will ease the pressure to find new oil fields / supplies to meet demand. Coupled with crude price tumbling, oil exploration companies will think twice about committing $ to look for new oil fields around the world. This will impact oil rig builders like Keppel and Sembawang.
    Well put.

    This is becoming a depressing thread.....
    Snap ?

  17. #37

    Default Re: Really So Serious meh?

    Quote Originally Posted by ianwurn View Post
    Well put.

    This is becoming a depressing thread.....
    I would hardly think it's depressing... Maybe realistic.
    People really need to see it.

  18. #38

    Default Re: Really So Serious meh?

    Quote Originally Posted by Nisa View Post
    I would hardly think it's depressing... Maybe realistic.
    People really need to see it.
    Reality could be depressing like now. hahaha....

    *mebbe need to state a reader's disclaimer that anti depressants will not be covered by contributors of this thread ?
    Snap ?

  19. #39

  20. #40

    Default Re: Really So Serious meh?


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