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(The Detroit_News)   GM announces record high employee profit-sharing bonuses. Workers now able to retire after just two or three more taxpayer bailouts   (detroitnews.com) divider line 13
    More: Spiffy, General Motors Co., profit shared, Akerson, Auburn Hills, defined benefit  
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555 clicks; posted to Business » on 15 Feb 2013 at 11:22 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-15 10:08:52 AM  
Why does subby hate America?
 
2013-02-15 11:08:27 AM  
GM's underfunded pension status was $13.1 billion at the end of 2012, slightly better than year-end 2011 total of $13.3 billion. The automaker said it does not expect to make any mandatory contributions to the U.S. defined benefit plans for at least five years, though it will continue to look at opportunities to make voluntary cash contributions. But GM said it does not expect to do so in 2013.

just make sure you aren't planning on having that pension around when you do retire
 
2013-02-15 11:24:18 AM  

thomps: GM's underfunded pension status was $13.1 billion at the end of 2012, slightly better than year-end 2011 total of $13.3 billion. The automaker said it does not expect to make any mandatory contributions to the U.S. defined benefit plans for at least five years, though it will continue to look at opportunities to make voluntary cash contributions. But GM said it does not expect to do so in 2013.

just make sure you aren't planning on having that pension around when you do retire


Dental plan.... Lisa needs braces...
 
2013-02-15 11:27:40 AM  

GoodyearPimp: thomps: GM's underfunded pension status was $13.1 billion at the end of 2012, slightly better than year-end 2011 total of $13.3 billion. The automaker said it does not expect to make any mandatory contributions to the U.S. defined benefit plans for at least five years, though it will continue to look at opportunities to make voluntary cash contributions. But GM said it does not expect to do so in 2013.

just make sure you aren't planning on having that pension around when you do retire

Dental plan.... Lisa needs braces...


Smithers, I'm beginning to think that Homer Simpson is not the brilliant tactician I thought he was.
 
2013-02-15 11:50:15 AM  

shanrick: Why does subby hate America?


Because the nice job-creating bankers who in no way caused the recession needed their bailouts, but helping lower-middle class guys who work in one of America's most important industries is SOCIALISM!
 
2013-02-15 12:08:36 PM  
Talk to any white collar worker below management and ask them how good GM's retirement plan is.   When General Motors became Government Motors, the white collar workers lost their retirement fund in the shuffle but oddly, the union supported blue collar workers who happened to be support President Obama kept their retirement plan.

Now, I have nothing against blue-collar workers and the union, but the so-called bailout should have left enough funds for EVERYONEs retirement.
 
2013-02-15 12:45:53 PM  

lc6529: Talk to any white collar worker below management and ask them how good GM's retirement plan is.   When General Motors became Government Motors, the white collar workers lost their retirement fund in the shuffle but oddly, the union supported blue collar workers who happened to be support President Obama kept their retirement plan.

Now, I have nothing against blue-collar workers and the union, but the so-called bailout should have left enough funds for EVERYONEs retirement.


A bailout might have, but they didn't get that.  They got a (relatively) small loan with the understanding that they should come back with a plan for solvency in order to actually get a larger bailout.  They did not come back with a plan and thus went through bankruptcy - the entire point of which being that they could get rid of such pesky liabilities.
 
2013-02-15 12:45:54 PM  
It's amazing what it can do for your bottom line when you screw over your previous shareholders and debtors. I don't know why any company should have to face bankruptcy these days. Just erase its obligations and, poof, suddenly it's profitable again.
 
2013-02-15 01:10:43 PM  

HMS_Blinkin: Because the nice job-creating bankers who in no way caused the recession needed their bailouts, but helping lower-middle class guys who work in one of America's most important industries is SOCIALISM!


I have a great idea.. no bailouts
 
2013-02-15 01:31:53 PM  

lc6529: Talk to any white collar worker below management and ask them how good GM's retirement plan is.   When General Motors became Government Motors, the white collar workers lost their retirement fund in the shuffle but oddly, the union supported blue collar workers who happened to be support President Obama kept their retirement plan.

Now, I have nothing against blue-collar workers and the union, but the so-called bailout should have left enough funds for EVERYONEs retirement.


Yeah, it's almost like the guys who actually assemble the cars are more important to running a car manufacturer.

Imagine that.
 
2013-02-15 01:53:45 PM  

lc6529: Talk to any white collar worker below management and ask them how good GM's retirement plan is.   When General Motors became Government Motors, the white collar workers lost their retirement fund in the shuffle but oddly, the union supported blue collar workers who happened to be support President Obama kept their retirement plan.

Now, I have nothing against blue-collar workers and the union, but the so-called bailout should have left enough funds for EVERYONEs retirement.


So many young engineers walked on that day or soon after, it really hurt the company.  Now we get around it by having the tech center be "Contractor Central".  So no long term commitments, but of course the contractors know that as well.

These days the Chinese will pay big bucks for auto engineers, especially those with with EV experience.  They fire right after they suck your skull dry, but they pay you well while they're doing the sucking, and it isn't like GM or Chrysler have trustworthy retirement options.  Might as well relocate to Shanghai or Wuhan and make well into the six figures and live it up as an expat for awhile.
 
2013-02-16 10:13:32 AM  

jjorsett: It's amazing what it can do for your bottom line when you screw over your previous shareholders and debtors. I don't know why any company should have to face bankruptcy these days. Just erase its obligations and, poof, suddenly it's profitable again.


cry moar.
 
2013-02-17 10:42:56 PM  
I looked at and almost bought a Camaro yesterday.  My 6'4" and 5'10" teenagers, who barely fit in it, made me be an adult and buy a Camry tomorrow.

/got nuthin' else
//except to announce I'm getting a Camaro when the kids are out of the house and i dont need to plan for them to fit in my car anymore.
 
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