I want to retire when I'm 48

[dbotsfordtat]

Originally Posted by Blownhotrodder

Heres a good read.

http://www.forbes.com/2009/02/19/bac...rry_flint.html

That article doesn't say why GM is losing their advantage and you are implying its because of bad management and the UAW, I disagree. Theres plenty of room for improvement at GM and there always will be, but Toyota doesn't have the hugh legacy cost that GM is burdened with in this country, ie, healthcare and retirement. If you want to see manufacturering (including GM) strenghtened in America, we are going to have to begin providing government funded healthcare to all American workers. We are one of the last industrialized nations not to provide universal healthcare and that puts a tremendous burden on businesses that provide it privately. In addition we are going to have to come up new ideas for a retirement supplement for social security. The 401K is DOA witnessed by the recent market slaughter. You cannot just say we should kill off the UAW and let the retirees' figure it out. The answer lies in what the governments of Canada, Europe, and Japan do for their workers. We need to figure out how to mimic what works in those countries and improve what doesn't.

[War Eagle]

I guess the thing that bothers me the most is how outrageous the retiree benefits are that the UAW negotiated and that GM approved.

I retired at age 60 in management after 38 years ( not the auto industry). The Company provided me with partially subsidized medical insurance untill I reach 65 then I lose my Company medical. Currently my monthly premium for just myself is $615.

The UAW retirees pay virtually nothing for their medical insurance and it continues as long as they live even past medicare age.

Years ago while I was living in Atlanta i was at the local airport and some of the mechanics that worked for Delta kept their airplanes there. There was a big heated discussion going on and they were greatly incensed that Delta was going to start asking them to contribute a small amount towards their medical coverage. They had been receiving free medical and dental. The unions pretty much wrecked the airline industry as well.

The UAW negotiated labor contracts that created legacy costs that have broken the back of the US automotive industry. GM and Ford were scared to death of the Unions and did not have the balls to stand up to them when they should have. Now all of us are paying the cost.

It really burns me up that I have to pay so much for my medical insurance and then my tax dollars are being used by GM to pay the medical insurance for retired UAW workers untill they die and never go on medicare.

It would be justice if GM went in to chapter 11 and the retirees would have to go on medicare with me when they reach 65.

Steve

[Blownhotrodder]

Finally someone with some sense. No wonder you drive a Ford.