Since late 2016 we have entered the age of disclosures! Fasten your mental safety belt and enjoy the ride! Heretic

Tuesday, September 22, 2009

The only way to fix GM is to close it down...

The news is that Canadian GM management has decided to increased salaries for non-unionized white collar (read - management) employees. A few months ago all the employees "white" and "blue" took up to 10% pay cut, now it seems they are restoring only the white collar salaries, but not the blue-collar hourly wages! The original pay cut for everyone saved the company 50M$ a few months ago. This pay restoration now will cost the company similar amount of 50M$ dollar. The ratio of white collar (=management) to workers in Canadian GM is 1700:7500. Those numbers indicate that the "pay restoration" will actually amount to a significant pay increase for the management, probably four times their original pay cut. It is also possible to calculate the average manager's salary...

Source: Peterborough Examiner 19-Sep-2009

2 comments :

Hendrickus Brokking said...

Recently read a bumper sticker which ran thus: "Want to lose your job? Buy foreign."

I say, "Want to lose your job? Buy domestic." Buying foreign may force sloppy and negligent domestic companies to improve their operations, to produce a superior product at a more competitive price. On this principle, ironically, Canadian consumers might better demonstrate a patriotic spirit not by buying local, but abroad.

Too bad health care costs, both hidden (what percentage of our tax bill goes to health care, Stan?) and direct, render purchase of quality foreign products somewhat difficult just now. Speaking of irony...

Stan (Heretic) said...

Re: I say, "Want to lose your job? Buy domestic."

I agree with that! That's what I said to my Canadian friends when I came here 13 years ago.

By buying Canadian/American goods they keep propping up inefficient badly run corporations and baby boomers' management culture that would and should have been purged from the marketplace and society. By buying GM cars and GE products they are prolonging the agony and the farce. This only props up the grossly overvalued currencies that the US and Canadian dollars have become which enables our banking "puppet masters" to ship even more of our investment capital off-shore. It only hastens the demise of the local small manufacturing industry.

So yes, absolutely. Buying American good produced by the corporate behemoths destroys American jobs and capitalism. Don't do that!

Let us buy more foreign goods to help bring down the value of the dollar and wipe out all paper assets of the parasitic financial corporations and corporate dinosaurs. It's either us or "them". The market will eventually clean up itself.

Heretic

Capitalism - Yes, Corruption - No!