9 15 am: GM announcing more production cuts
DETROIT (AP) -- General Motors Corp. is telling workers that it will make further production cuts at several factories, according to people briefed on the discussions.
The people did not want to be identified because the announcements were still being made Friday morning. The extent of the cuts was unknown.
GM has announced thousands of factory layoffs so far this year and is cutting its salaried staff in order to pare expenses and conserve cash. The company has said it could run out of cash by the end of this year.
GM and its Detroit counterparts are seeking billions of dollars in loans from the federal government. Congress is requiring the automakers to come up with plans to become viable before it will decide on the loans
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MYVIEW
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11-21-08 3:09 PM
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YOU ARE WELCOME AUTOGIRL- I JUST HATE TO SEE ANYONE GET HURT OVER THIS AND THERE SURE WILL BE A LOT THAT WILL BE IF THE AUTO INDUSTRY GOES BELLY UP- AND YES THE UNION GUYS GET THEIR MONEY FROM US- AND IF THERE IS NO US THEY WILL GET NOTHING! IN FACT WITH ALL THE JOB LOSSES ALREADY THEY ARE NOT GETTING WHAT THEY USED TO-BECAUSE LESS PEOPLE ARE PAYING UNION DUES!
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pahootaman
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11-21-08 12:27 PM
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I do think there's a lot of good, hard working people that work for the auto industry. I also believe theres a LOT of bloat, people just hanging around because they were granthfathered in, or have the equivalent of "tenure' from their union. What upsets me is that the good guys are the ones getting hit the hardest. The guy that gets $25+ an hour putting wire A on circut B should of seen this coming a long time ago. Unions should of seen this comming a long time ago. Even if GM goes into bankruptcy and goes through a major restructuring, I don't think the unions will change. They have no incentive to, they have a steady income comming from you guys.
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autogirl
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11-21-08 11:51 AM
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Myview, I want to thank you for actually realizing how many people the auto industry does affect in this country. Too many people like to complain about the wages and benefits that auto workers get. They believe that the workers are lazy, uneduacated, and never want to give up any concessions. Reality is none of that! It's refreshing to hear someone realize the importance of this instead of bad mouthing the industry. People on here need to start working together to save the auto industry and the millions of jobs it affects!
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MYVIEW
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11-21-08 10:30 AM
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Yes, I agree the CEO's of the automakers are a 'greedy' bunch-but we need to concern ourselves with the millions of people that will be affected if the companys can not get the help being asked for.It will hurt the workers that have already made concessions and will be asked to make even more if they do not lose their job right away.It will hurt the retirees that gave them years of their lives and earned a pension and decent health care. If allowed to fail it will trickle down to everyone- grocery stores, retail stores, the plants that make parts for the autos,restaurants,beauty parlors, schools,the police and fireman- just name someone that has a job and they will be affected in some way. I do not feel that the working 'middle' class should suffer because of a few CEO;s that put themselves in first place and the blue collared workers who make their cars 'last'.
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pahootaman
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11-21-08 9:59 AM
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During this time of year, let us not forget that your humble CEO has a family to feed, a mansion to keep warm, a luxury jet to keep fueled. His vacation in Europe isn't going to enjoy itself you know. Try to be a little considerate for those aboe you. - Scrooge. there's a a better one.
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pahootaman
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11-21-08 9:55 AM
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"Best year yet!" - Scrooge
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zipcityboy
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11-21-08 9:42 AM
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Happy Thanksgiving and Merry Christmas, folks! -The Grinch
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