GM is on the verge of collapse?

Quote from forextrades:

The "current veteran" makes $28.12. The average wage is closer to $23.

I didn't realize the total package was that ridiculous though. $78.21? I can't get my head around that.

I know a lot of people who work in the trades for union contractors that don't make nearly that much. And they're doing tougher work that actually requires a brain.

I also know a lot of engineers who don't make nearly that much.

I'd be curious to know exactly how much of that money goes to the union.
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I'd believe the numbers.......There was an outrage several years ago when there was the union guys had to pay part of their healthcare. I remember the number being $60 per month for a family of four. I also remember paying more than that for a cell phone at that point.

There is a pretty big divide between the salaried workers & the union workers because of things like this.
 
Quote from Trader922:

I'd believe the numbers.......There was an outrage several years ago when there was the union guys had to pay part of their healthcare. I remember the number being $60 per month for a family of four. I also remember paying more than that for a cell phone at that point.

There is a pretty big divide between the salaried workers & the union workers because of things like this.
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im 21 years old 1 person and paying €50 a month avg in health insurance :eek:
 
Quote from Random.Capital:

Based on what? Back out the cash and the company has $46/share in debt.
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BK wipes out the unsecured creditors... pension long term commitments etc. Shut down all operations and auction and liquidate all of its holdings. Better than turning over operations to the feds and wiping out the shareholders via preferred redemption.

Let smaller more agile car companies emerge buying out their assets and operations for 10 cents on the dollar.
 
Quote from Random.Capital:

IMO the lions share of blame goes directly on GM management. Call it a 2:1 split with the UAW, whose leadership is every bit as corrupt as GM senior management.
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Oh management has done it's level best to drive the company into the ground. And not the current dopes, but a line of them reaching back into the past couple decades or so.

Back in the 90s, damn near every decision needed to be run through the 14th floor (where the board was in the GM HQ prior to moving to the RenCen). Everybody knew that buying EDS was a major mistake, but it took years to overcome that problem.
 
Quote from PocketChange:

BK wipes out the unsecured creditors...
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Right after it wipes out shareholders, who are even further back in line than unsecured creditors.

So the question remains - what is a $15/share valuation based on?
 
Companies are a bit like people in that they have

1. youthful energy and enthusiasm
then
2. mature into money making machines
then
3. slip into senility as the slugs move into top management to fill their own wallets.
then
4. its all over and the vultures move in for a big feed off the carcass
 
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