Auto Industry

[DoeWDW]

When will people understand that YOU are responsible for taking care of YOU. I work at a job where I should receive a nice pension and health benefits in retirement. However, I KNOW that it isn't written in stone and those things, for one reason or another, are not a sure thing.

Hence I am paying down debt, paying off my house early, saving for retirement, and doing all I can to put myself in a position where the pension and health benefits would be nice but I could survive if I don't get them.

Why should I expect to bail out other people who spent every dime they made, even though they made good money, and counted on a pension and health benefits being there forever. People, please learn to rely on yourselves and plan for your own future, because I don't have enough money to provide for me AND all of you.

Call me insensitive if you like - flame away.

This theory may not apply if you worked for minimum wage but no one at the automakers was making minimum wage all these years.

 

[ols386]

Sorry, I lost my 'sensitivity' last year when my daughter graduated University after 5 LONG years with an Engineering/Chemistry degree and is STILL unemployed. She has to go back to do her Masters to give herself yet another edge.More money from Mom and Dad. Nobody's tax dollars are helping her out and nobody cares either!

Sorry, no sympathy here.

Obviously.

 

[jodifla]

Sorry, I lost my 'sensitivity' last year when my daughter graduated University after 5 LONG years with an Engineering/Chemistry degree and is STILL unemployed. She has to go back to do her Masters to give herself yet another edge.More money from Mom and Dad. Nobody's tax dollars are helping her out and nobody cares either!

Sorry, no sympathy here.

More jobs and industry begets more jobs and industry. If the auto industry folds in North American, your daughter's prospects become even worse....she'll have much more competition for work by people with years of experience.

Even if she's in a field that doesn't compete with autos, all those people being out of work means the economy isn't growing...so again, no work for your daughter.

Wishing ill for other people doesn't bode well for your future.

 

[jodifla]

When will people understand that YOU are responsible for taking care of YOU. I work at a job where I should receive a nice pension and health benefits in retirement. However, I KNOW that it isn't written in stone and those things, for one reason or another, are not a sure thing.

Hence I am paying down debt, paying off my house early, saving for retirement, and doing all I can to put myself in a position where the pension and health benefits would be nice but I could survive if I don't get them.

Why should I expect to bail out other people who spent every dime they made, even though they made good money, and counted on a pension and health benefits being there forever. People, please learn to rely on yourselves and plan for your own future, because I don't have enough money to provide for me AND all of you.

Call me insensitive if you like - flame away.

This theory may not apply if you worked for minimum wage but no one at the automakers was making minimum wage all these years.

OK, it's very insensitive! Many of these workers are in their 60s and 70s now. Kind of late to be looking for a job now.

Pensions should be honored.

 

[minnie56]

More jobs and industry begets more jobs and industry. If the auto industry folds in North American, your daughter's prospects become even worse....she'll have much more competition for work by people with years of experience.

Even if she's in a field that doesn't compete with autos, all those people being out of work means the economy isn't growing...so again, no work for your daughter.

Wishing ill for other people doesn't bode well for your future.

My daughter is already competing against those that have been laid off and are taking the 'entry level' jobs that the Grads usually take.

I do not wish ill for anyone..I am saying that nobody is bailing her out or her fellow unemployed grads either. And I am tired of seeing my money help out the Auto Industry. I have long been a GM (North American Cars) supporter..not any more. Enough is enough. They can't get it right. Way too many chances thus far in my opinion.

 

[ols386]

When will people understand that YOU are responsible for taking care of YOU. I work at a job where I should receive a nice pension and health benefits in retirement. However, I KNOW that it isn't written in stone and those things, for one reason or another, are not a sure thing.

Hence I am paying down debt, paying off my house early, saving for retirement, and doing all I can to put myself in a position where the pension and health benefits would be nice but I could survive if I don't get them.

Why should I expect to bail out other people who spent every dime they made, even though they made good money, and counted on a pension and health benefits being there forever. People, please learn to rely on yourselves and plan for your own future, because I don't have enough money to provide for me AND all of you.

Call me insensitive if you like - flame away.

This theory may not apply if you worked for minimum wage but no one at the automakers was making minimum wage all these years.

I realize I'm responsible for me. I'm not asking for any handouts. I most certainly did not spend every dime I've made over the years. I've managed to save a nest egg or two. That was a pretty big generalization that you made.

And yes, I think you are insensitive.

 

[ols386]

My daughter is already competing against those that have been laid off and are taking the 'entry level' jobs that the Grads usually take.

I do not wish ill for anyone..I am saying that nobody is bailing her out or her fellow unemployed grads either. And I am tired of seeing my money help out the Auto Industry. I have long been a GM (North American Cars) supporter..not any more. Enough is enough. They can't get it right. Way too many chances thus far in my opinion.

I sure don't wish your daughter ill will, and I do have sympathy for young adults graduating from college these days. It is very HARD for them to find jobs. My dd is a college grad, with a degree in graphic design, and is currently laid off. I do understand where you are coming from.

 

[wall*e2008]

That's probably true in some cases, but we're talking 30 years ago, many people could not afford college. And I'm not talking about myself, I'm just talking about people in general. I didn't live in Michigan many years ago, so I'm not sure what the cost was for state or community college in Michigan.

So are you saying that for anyone who chose working for a U.S. automaker, rather than going to college, that they are getting what they deserve by losing jobs and medical coverage???

They are responsible for not seeing the writing on the wall and planning accordingly.

When I graduated college I was on of the few who got the "dream job at the dream company" for my degree. I quit 3.5 years later when I saw they they were making promises that could not be kept and that the company would eventually suffer. Many told me I was nuts when I left. Well about 5 years later the stuff hit the fan and I was then told I was a right. They got laid-off.

I knew the auto industry was in trouble when I was a kid. The numbers did not add up. I did not live in MI.

 

[wall*e2008]

OK, it's very insensitive! Many of these workers are in their 60s and 70s now. Kind of late to be looking for a job now.

Pensions should be honored.

How do you get blood from a stone? Oh yeah the taxpayers. So I take a hit on my retirement and I am to pay more in taxes to fund yours?

 

[ols386]

They are responsible for not seeing the writing on the wall and planning accordingly.

When I graduated college I was on of the few who got the "dream job at the dream company" for my degree. I quit 3.5 years later when I saw they they were making promises that could not be kept and that the company would eventually suffer. Many told me I was nuts when I left. Well about 5 years later the stuff hit the fan and I was then told I was a right. They got laid-off.

I knew the auto industry was in trouble when I was a kid. The numbers did not add up. I did not live in MI.

Again, you are generalizing. Basically saying that the people who've lost their jobs, didn't do any kind of financial planning. How do you know how individuals have planned? You don't.

Things were very different 30 years ago. Obviously, if we knew then what we know now, we may have planned differently. Not everyone has a crystal ball and can predict the future. A person cannot plan perfectly for everything in life. And sometimes the handwriting on the wall, isn't always so legible.

Again, your insensitivity is astonishing.

 

[cteddiesgirl]

When will people understand that YOU are responsible for taking care of YOU. I work at a job where I should receive a nice pension and health benefits in retirement. However, I KNOW that it isn't written in stone and those things, for one reason or another, are not a sure thing.

Hence I am paying down debt, paying off my house early, saving for retirement, and doing all I can to put myself in a position where the pension and health benefits would be nice but I could survive if I don't get them.

Why should I expect to bail out other people who spent every dime they made, even though they made good money, and counted on a pension and health benefits being there forever. People, please learn to rely on yourselves and plan for your own future, because I don't have enough money to provide for me AND all of you.

Call me insensitive if you like - flame away.

This theory may not apply if you worked for minimum wage but no one at the automakers was making minimum wage all these years.

OK, it's very insensitive! Many of these workers are in their 60s and 70s now. Kind of late to be looking for a job now.

Pensions should be honored.

Pensions can't be honored when there is no money to pay them. You can't get blood out of a turnip.

Ultimately, I do feel for their struggles. But, they decided to leave their futures in the hand of others where there was ultimately no guarantee it would truly happen.

They are responsible for not seeing the writing on the wall and planning accordingly.

When I graduated college I was on of the few who got the "dream job at the dream company" for my degree. I quit 3.5 years later when I saw they they were making promises that could not be kept and that the company would eventually suffer. Many told me I was nuts when I left. Well about 5 years later the stuff hit the fan and I was then told I was a right. They got laid-off.

I knew the auto industry was in trouble when I was a kid. The numbers did not add up. I did not live in MI.

 

[Free4Life11]

I don't necessarily feel bad for the industry as a whole, but I have sympathy for anyone who loses their job! It's not a nice thing to experience. I'm losing mine in 6 months and it SUCKS! I'm glad to know most people on the DIS are perfect, can predict the future, and have everything in their financial life perfectly lined up!!!! Go pat yourself on the back! Congrats!

 

[ols386]

Pensions can't be honored when there is no money to pay them. You can't get blood out of a turnip.

Ultimately, I do feel for their struggles. But, they decided to leave their futures in the hand of others where there was ultimately no guarantee it would truly happen.

I wonder if you would feel the same if you were in your 60s and lost a big chunk of your pension, AND your medical benefits. I bet you'd be singing a different tune.

 

[minnie56]

I wonder if you would feel the same if you were in your 60s and lost a big chunk of your pension, AND your medical benefits. I bet you'd be singing a different tune.

My husband is self employed. There is NO Pension. It's been up to us to make the provisions along the way to protect ourselves. And trust me, when he began working there was no such thing as a $28 per hour starting salary! It was lean and mean.

 

[kelleigh1]

My parents are in their 60's. They don't work for GM but they do work for a company that makes parts for GM (and other U.S. automakers). If (when) GM folds, it is extremely likely that they will both be laid off, especially since their company has already had some major layoffs and has also significantly cut back hours.

For the record, they make about $25k per year (each) with no fancy pension and none of the same benefits that the automakers get.

So, while it's easy to say that GM deserves to go bankrupt, why not take a look at the big picture and see that not only will GM execs and the GM automakers be effected, but thousands of other businesses which supply parts, etc. to this corporation will also take a hit. Thousands of people who barely get by on their weekly paychecks will be losing those paychecks.

 

[ols386]

My husband is self employed. There is NO Pension. It's been up to us to make the provisions along the way to protect ourselves. And trust me, when he began working there was no such thing as a $28 per hour starting salary! It was lean and mean.

I understand that, but if you're someone in your 60s, you've worked all your life at GM, Chrysler, or Ford, you're living off of your pension, that you thought would be there after retirement, and all of a sudden half of your pension is gone, it's a tough thing to deal with. And please don't tell me that "these people should have planned for it". That's a load of crap.

 

[wall*e2008]

I wonder if you would feel the same if you were in your 60s and lost a big chunk of your pension, AND your medical benefits. I bet you'd be singing a different tune.

What pension? I lost a big chunk of my 401K. Is that OK with you? I pay 100% of my medical benefits. What tune am I to sing?

 

[wall*e2008]

I understand that, but if you're someone in your 60s, you've worked all your life at GM, Chrysler, or Ford, you're living off of your pension, that you thought would be there after retirement, and all of a sudden half of your pension is gone, it's a tough thing to deal with. And please don't tell me that "these people should have planned for it". That's a load of crap.

Where were you when all those Lucent retirees saw this happen when the telecom industry went in the toilet. Did you ask your reps to save their retirements or did you just turn a blind eye? I was never a Lucent employee but I did not quite a few and they got exact 0 help from Uncle Sam.

 

[ols386]

What pension? I lost a big chunk of my 401K. Is that OK with you? I pay 100% of my medical benefits. What tune am I to sing?

Did I say it was ok for you to lose a chunk of your 401k? No, it's not ok. And I do have plenty of sympathy for anyone who's lost their 401K.

Tell me about it, I pay 100% of my medical benefits also.

The op was stating that they didn't have any sympathy for the automotive workers losing jobs, benefits, and pensions. That's what I've been responding to on this thread.

You can sing whateve tune you like.

 

[ols386]

Where were you when all those Lucent retirees saw this happen when the telecom industry went in the toilet. Did you ask your reps to save their retirements or did you just turn a blind eye? I was never a Lucent employee but I did not quite a few and they got exact 0 help from Uncle Sam.

My reps? I had no reps. What are you talking about?