http://finance.yahoo.com/news/AP-SourcesGM-to-shut-many-US-apf-15004037.html?.v=2

9 weeks.

9 weeks.

 

Thanks. No clue where I got 3 months?

Thanks. No clue where I got 3 months?

3 weeks in a month? :jump:

I have heard reports that the workers will continue to be paid during the shutdown. Does anyone know for sure?

 

I believe that it is best for GM to file Chapter 11 Bankruptcy (Reorganization). I also believe that union contracts are the only roadblock to filing.

I have heard reports that the workers will continue to be paid during the shutdown. Does anyone know for sure?

 

I believe that it is best for GM to file Chapter 11 Bankruptcy (Reorganization). I also believe that union contracts are the only roadblock to filing.

 

I don't know about the actual GM workers, but the suppliers that have to layoff sure won't. The worst thing about this is the GM suppliers that have not run themselves into the ground with poor business sense will still be greatly impacted by the shutdown. I don't know if people fully understand, but GM shutting down for over 2 months effects waaaayy more people than those in Detroit and other assembly plants.

Some of GM's truck plants will be shut down longer than 9 weeks. An extra 9 weeks. The union workers will still be receiving full pay through state unemployment benefits and support from GM.

 

GM to shut down 13 of 20 North American Plants

 

 

The Corvette Plant in Bowling Green is part of the shut down.

Some of GM's truck plants will be shut down longer than 9 weeks. An extra 9 weeks. The union workers will still be receiving full pay through state unemployment benefits and support from GM.

GM to shut down 13 of 20 North American Plants

 

 

The Corvette Plant in Bowling Green is part of the shut down.

 

Thats amazing. Support from GM,or "Joe Taxpayer"?

I thought all those ingenious Bailouts were supposed to stop this from happening? How can this happen under the watch of President Obama? Seriously, I thought he had it all figured out.

I don't know about the actual GM workers, but the suppliers that have to layoff sure won't. The worst thing about this is the GM suppliers that have not run themselves into the ground with poor business sense will still be greatly impacted by the shutdown. I don't know if people fully understand, but GM shutting down for over 2 months effects waaaayy more people than those in Detroit and other assembly plants.

 

Saw a graph tonight showing 10 jobs lost in the economy for every one of GM's.

Saw a graph tonight showing 10 jobs lost in the economy for every one of GM's.

 

I can believe that one of my best friends works for a company over by the airport(cvg) that supplies those robotic welding arms and replacement parts to several of the automakers around the country.

I thought all those ingenious Bailouts were supposed to stop this from happening? How can this happen under the watch of President Obama? Seriously, I thought he had it all figured out.

 

Seems we are just paying the workforce to stay home. Incredible:confused:

I thought all those ingenious Bailouts were supposed to stop this from happening? How can this happen under the watch of President Obama? Seriously, I thought he had it all figured out.

I don't think anyone has this economic down turn figured out.

 

Seems we are just paying the workforce to stay home. Incredible:confused:

That is what we were talking about at work yesterday. I saw a union head say today that the employees will only be getting 80% of their pay. :ohbrother:

 

Well, we've had to take a 12% pay cut at work and still go to work 4 days a week. Good thing though. We had such a huge increase in orders we're going back to a 40 hour work week next month.

 

We supply parts for the automotive and medical industry.

I don't think anyone has this economic down turn figured out.

 

That is what we were talking about at work yesterday. I saw a union head say today that the employees will only be getting 80% of their pay. :ohbrother:

 

Well, we've had to take a 12% pay cut at work and still go to work 4 days a week. Good thing though. We had such a huge increase in orders we're going back to a 40 hour work week next month.

 

We supply parts for the automotive and medical industry.

 

Glad you're doing well. I have a problem with us giving GM billions and then they close up and continue to pay wages whatever%. How is this afinancially sound decision? I assume that GM would not do this on their own dime. Why do laid off GM employees recieve more than other laid off workers? This whole thing just reeks of something bad.

Glad you're doing well. I have a problem with us giving GM billions and then they close up and continue to pay wages whatever%. How is this afinancially sound decision? I assume that GM would not do this on their own dime. Why do laid off GM employees recieve more than other laid off workers? This whole thing just reeks of something bad.

Thanks and I agree with you. How do GM employees get that? One word UNION! :irked:

 

I don't mean the one in Barbourville either! :thumb: