Auto Bailout Failed, going to be a bumpy day on Wall Street

[Fender]

Will DJIA fall below 8k?

[MKJ]

BAM

[GONNAFISTYA]

One thing about this bailout that nobody seems to talk about is that it failed because the GOP want the auto workers to bring down their wages (and prolly disband their unions). All while nobody questions how much the fagg0ts in AIG make, nor do the GOP seem to question the huge bonuses AIG is handing out to a few of its employees.

Jon Stewart nailed it: Washington has no fucking clue how Wall Street works.

And yes, the Dow will take a hit because all those fagg0ts know what to do is panic. For them every day is the end of the world until someone pats them on the head and says everything is fine...which usually occurs around 2 pm.

[Don Carlos]

Well my share holdings are down 17.28% on the news...as well as other things that have been released today

[scared?]

One thing about this bailout that nobody seems to talk about is that it failed because the GOP want the auto workers to bring down their wages (and prolly disband their unions).

and the cost of labor to build a car is only about 10%...lol pathetic republicans trying to bust up unions...why do they hate america?...

[Therac-25]

One thing about this bailout that nobody seems to talk about is that it failed because the GOP want the auto workers to bring down their wages (and prolly disband their unions). All while nobody questions how much the fagg0ts in AIG make, nor do the GOP seem to question the huge bonuses AIG is handing out to a few of its employees.

the whole auto bailout is a joke. it would cost like $6b for the government to buy them outright, but they're going to give them $25b? and our government is going to follow suit? (that's certainly an upside to harper staying in power for a while -- i'm sure the ndp have caw-branded kneepads, and the liberals would fall in line as well). and for what -- so they can fail in a year instead of right now?

[scared?]

i say let the system collapse...we r in healthcare so it don't matter for us...

[StormShadow]

Actually, auto workers get paid ABSURD wages ($100 bucks an hour for manual labor?). And if they want to save their industry, the UAW has to give a little. Not that this is all the UAW's fault - there is plenty of blame to go around. But if I had to choose between a pay cut and unemployment - guess what.

But yeah, I think its odd that we passed a 700 billion dollar bailout without batting an eye, but this much smaller bailout gets all the scrutiny.

[scared?]

Actually, auto workers get paid ABSURD wages ($100 bucks an hour for manual labor?).

actually ur a moron becuz that is completely not true...

[Scourge]

Actually I think it's more around $40 hr.

[scared?]

actually at the end of december 2006, the average vehicle assembler at gm earned $28.02...

[scared?]

he's talking about the right wing meme which is trying to say they average 70 bucks an hour...but it's deceptive bullshit like adding healthcare and all other benefits into the wage...it's over-reaching union busting bullshit that morons like shitstorm fall for...

[Plan B]

I heard the wages in the American car brand industry are far higher than in the Japanese car brand industry in America, because the unions have a much stronger influence there.
But even so, the republicans trying to sneak in clauses to weaken union influence and lower wages seems pretty opportunistic and douchebaggy.
Anyway, I think the bailout would have been a great opportunity for government to grab the industry by the balls and make it focus on environment friendly innovations.

[scared?]

28 bucks an hour is just right for those ppl...and like i said...labor cost in only 10% of the cost so whats the fuss?...

[21313334]

Obviously what they're doing now is a failure, or they wouldn't need a bailout.

[MKJ]

^someone ban this mornan...

[seremtan]

Actually, auto workers get paid ABSURD wages ($100 bucks an hour for manual labor?).

assuming for a moment that that's true, since when were wages inversely related to the degree of physical labour a job involves? a brain surgeon is a 'manual labourer' - or should wages be inversely related to the weight of the objects you move around in your job?

[werldhed]

Whatever they get paid, the UAW did have a hand in the downfall of the industry, mostly by being unwilling to deal. The UAW can go die, really.

[scared?]

if ur against unions u hate america...

[werldhed]

I'm as liberal as they come, but let's be honest... unions have outlived their need.

Or, at least, there needs to be a revamp of how many unions work.

[Grudge]

let them die

[shadd_]

Actually, auto workers get paid ABSURD wages ($100 bucks an hour for manual labor?). And if they want to save their industry, the UAW has to give a little. Not that this is all the UAW's fault - there is plenty of blame to go around. But if I had to choose between a pay cut and unemployment - guess what.

But yeah, I think its odd that we passed a 700 billion dollar bailout without batting an eye, but this much smaller bailout gets all the scrutiny.

what?

i get a kick out of people that think skills not learned in college or university don't count as skills. i can guarantee you could not walk into an auto plant and do the jobs those people do. it would take you years to become a skilled and valuable auto plant worker.

these are the industries that create wealth, that in turn, pays for every single wage in the USA not related to the production of hard goods.

meaning without these types of jobs, there would be no money for government, teachers, bank employees, etc..

wake the fuck up people. know where your bread and butter comes from before its too late.

[shadd_]

I'm as liberal as they come, but let's be honest... unions have outlived their need.

Or, at least, there needs to be a revamp of how many unions work.

what qualifies you to come to that conclusion?

company management are still the greedy fucks they were 75 years ago. the middle class is slowly disappearing and you think unions need to go? yes that would be the final nail in the coffin.

[scared?]

if u think unions have outlived their need, then u have fallen for the 35 years of organized union busting propaganda thats been going on....

gg sheep...

[HM-PuFFNSTuFF]

I'm as liberal as they come, but let's be honest... unions have outlived their need.

Or, at least, there needs to be a revamp of how many unions work.