Have you all seen any of this nonsense?

where was the tax payer bail-outs of the residential construction and real estate industry?...and the 10's of millions who make their living in those industries?
(I suggest more Americans and American workers are tied to the construction/real estate industry than the auto industry)

oh yeah, I almost forgot....

they are not union.

 

Going through bankruptcy doesn't mean you go out of business. Look at the airline industry. What it would have allowed is the renegotiation of worker benefits and pensions. There are a couple of California cities who have done a similar thing to get out from under their pension burden. GM's pension obligations are the largest in the country. They're currently offering early lump-sum buyouts for some workers and it's estimated to save them $26 Billion. Their current obligations are over $136 Billion.

 

and there lies the problem.

 

That has been going on forever when I turned 62 I was offered an early retirement payment. Older workers make more money because they are vested and at the top of the pay scale it's a money saving deal for any company or municipality. The unions over the years swapped pay raises for pension benefits and in the end that did not help GM except in the short term. By the way I was not a union worker. In the case of the construction biz there are 10's of thousands of small owners some made it some didn't so the losses are no where near as dramatic as dumping millions on the streets all at once.

 

Incorrect.

Millions were/are affected.

Not only small builder/contractors and their employees...but large construction companies as well. Plus the millions of sub-contractors...vendors...and suppliers.

And, it also includes those in real estate brokerage and other associated industries...like mortgage companies...title companies...couriers...land surveyors...appraisers...inspectors...etc.

the common denominator to all of the millions (and again, I'd argue more than the total affected in the auto manufacturing industry)...that common denominator = NON-UNION. and their vote can't be bought.

Fact. Period.

 

True that older workers make more and such. My dad was offered a buyout from his job (not auto or union) at 53 years old..what he got all at once he figured he'd have had to work another 12 years for so it made great sense to do it. Plus he could go get another job if he chose to, they didn't care..

Mixed feelings on the auto bailout. I used to think it was a wise move..but after my experience with GM and their piss poor customer service, plus having 2 dealers lie right to my face more than once and then having the dealers and corporate point the finger at each other but tell me "but it's your problem at the end, sorry sucker" I have a different view. I can see at least a large part of why they got in trouble..

 

Not saying it hasn't gone on forever. I was referring to the magnitude of their obligation.

 

Hahaha !!! Gabe the grammar cop !!