philthy did pass the time by typing:
> i have worked at this new place 3 months and have replaced more gm injectors
> than i have in 20 years of wrenching on jeeps

Sounds like they got a bad shipment of injectors or are just using bad products.

 

philthy did pass the time by typing:
> i have worked at this new place 3 months and have replaced more gm injectors
> than i have in 20 years of wrenching on jeeps

Sounds like they got a bad shipment of injectors or are just using bad products.

 

philthy did pass the time by typing:
> i have worked at this new place 3 months and have replaced more gm injectors
> than i have in 20 years of wrenching on jeeps

Sounds like they got a bad shipment of injectors or are just using bad products.

 

no actually gm makes crap hey maybe thats why delphi is going down

DougW wrote:

> philthy did pass the time by typing:
> > i have worked at this new place 3 months and have replaced more gm injectors
> > than i have in 20 years of wrenching on jeeps
>
> Sounds like they got a bad shipment of injectors or are just using bad products.

 

no actually gm makes crap hey maybe thats why delphi is going down

DougW wrote:

> philthy did pass the time by typing:
> > i have worked at this new place 3 months and have replaced more gm injectors
> > than i have in 20 years of wrenching on jeeps
>
> Sounds like they got a bad shipment of injectors or are just using bad products.

 

no actually gm makes crap hey maybe thats why delphi is going down

DougW wrote:

> philthy did pass the time by typing:
> > i have worked at this new place 3 months and have replaced more gm injectors
> > than i have in 20 years of wrenching on jeeps
>
> Sounds like they got a bad shipment of injectors or are just using bad products.

 

On Sat, 10 Dec 2005 09:51:29 -0500, philthy <dbrider@cac.net> wrote:

>no actually gm makes crap hey maybe thats why delphi is going down

Delphi (and many airlines and other manufacturers) are going down
because management made deals with their unions for unsustainable
benefit packages.

We now face the specter of our government subsidizing both. Not only
are these companies going to be let off the hook for their disastrous
union contracts, but we are actually going to pick up the tab for the
union members as well.

As one who has provided for his own retirement, I find the above
appalling. If union members are to have a publicly financed
retirement aside from SSI, why shouldn't everyone else?


-- msosborn at msosborn dot com

 

On Sat, 10 Dec 2005 09:51:29 -0500, philthy <dbrider@cac.net> wrote:

>no actually gm makes crap hey maybe thats why delphi is going down

Delphi (and many airlines and other manufacturers) are going down
because management made deals with their unions for unsustainable
benefit packages.

We now face the specter of our government subsidizing both. Not only
are these companies going to be let off the hook for their disastrous
union contracts, but we are actually going to pick up the tab for the
union members as well.

As one who has provided for his own retirement, I find the above
appalling. If union members are to have a publicly financed
retirement aside from SSI, why shouldn't everyone else?


-- msosborn at msosborn dot com

 

On Sat, 10 Dec 2005 09:51:29 -0500, philthy <dbrider@cac.net> wrote:

>no actually gm makes crap hey maybe thats why delphi is going down

Delphi (and many airlines and other manufacturers) are going down
because management made deals with their unions for unsustainable
benefit packages.

We now face the specter of our government subsidizing both. Not only
are these companies going to be let off the hook for their disastrous
union contracts, but we are actually going to pick up the tab for the
union members as well.

As one who has provided for his own retirement, I find the above
appalling. If union members are to have a publicly financed
retirement aside from SSI, why shouldn't everyone else?


-- msosborn at msosborn dot com

 

Not that his has -----all to do with jeeps or ******, but:

Matt Osborn wrote:
> On Sat, 10 Dec 2005 09:51:29 -0500, philthy <dbrider@cac.net> wrote:
>
>>no actually gm makes crap hey maybe thats why delphi is going down
>
> Delphi (and many airlines and other manufacturers) are going down
> because management made deals with their unions for unsustainable
> benefit packages.

Delphi is shipping water because their business model -- and the big GM
teat that it suckles on, didn't adapt to change. GM wasn't under any
union obligation to pack their dealer's lots with Escalades at 13MPG
while ignoring that there's a shooting war in the oil-rich middle east,
they did that all by their lonesome, thinking that they'd make big cars
with big profit margins today instead of having a plan for half a decade
down the road. Was GM going to maintain their market share forever?
No, but they -- and the unions -- clearly thought that they would.


> We now face the specter of our government subsidizing both. Not only
> are these companies going to be let off the hook for their disastrous
> union contracts, but we are actually going to pick up the tab for the
> union members as well.

Those were contracts that were written when both sides of the table
figured that the gravy train would continue to roll. You could,
depending on your bias, lay the blame at any number of other parties: GM
for underfunding their pension plan by some $31 billion[1], stock buyers
for not only encouraging such madness but rewarding the company for
doing so, the federal government for failing to prevent companies from
underfunding pensions, the medical system for being so efficient at
keeping retirees from dying early, other companies for making cars that
outsold GM's, and so on.

As it is, Delphi isn't on the hook for the whole nut: "As as part of the
[1999] spin-off deal, GM agreed to back the pension, life insurance and
retiree health benefits of its former workers at Delphi." [2]

I recall when Lee Iacocca slyly suggested that it might be in the
country's best interest if the federal government just "forgave" that
bailout loan that they got. Fortunately it wasn't.


> As one who has provided for his own retirement, I find the above
> appalling. If union members are to have a publicly financed
> retirement aside from SSI, why shouldn't everyone else?

Well, just to play the Devil's Advocate, you -- and I -- are going to
pay either way. Either we pay for the retirement of past employees out
of current company profits -- that means paid for by consumers, or we
pay for out of tax revenue, and that means paid for by workers, or GM
and Delphi collapse and we pay for it in lost investment. In any case,
if the Pension Benefit Guaranty Corporation does have to take over a
plan it caps the benefits at $43,977 a year. For a lot of professionals
that's half of what they had planned on having for their service to
their employer. Do I want to pay for it out of taxes? Hell, no, but at
least there's a cap.

Oh, and poor Delphi? Their Board of Directors are getting between
$120,000 and $200,000 a year in cash after managing the company into the
ground, their new CEO got a $3 million signing bonus and 600 of their
executives stand to get a average of 2/3 of a million dollars each if
they don't jump ship. [4] It's good work if you can get it, I guess.
Who is bleeding the company white?



[1]<URL:http://www.usatoday.com/money/perfi/retirement/2005-12-06-eroding-pensions_x.htm>

[2]<URL:http://www.detnews.com/apps/pbcs.dll/article?AID=/20051202/AUTO01/512020329/1148>

[3]<URL:http://www.ridgecrestca.com/articles/2005/12/06/news/columnists/colo02.txt>

[4]<URL:http://www.freep.com/apps/pbcs.dll/article?AID=/20051210/BUSINESS01/512100370/1014/BUSINESS>