We all know that GM is changing the way that they think – they are changing the way that they do things and they are certainly changing the way that they truly act. While 2009 has been a very, very tough year for this particular auto group, they finally have some good news. The workers for GM have taken the hits the most it seems and now – finally, the Human Resources VP Mary Barra sent out an official missive telling that the 3 – 7% pay cuts that everyone was feeling have been restored.
This is huge – for everyone and as of September 1st, they finally are able to bring the funds back up and while the senior executives are not the ones that get to take advantage of this … well, the workers do. GM has actually saved $50 million dollars by giving those cuts during the last four months and right now – they are able to give it back.
To me, that is something that is really good for the blue collars, while the white collars might have to suffer a little bit – they don’t get to get their third car this year … big deal right?
We all know that the Detroit Auto Show is definitely on the brink and it could not happen at all but did you know that … this week, they are actually considering a few other options around Detroit versus just Cobo hall? For example, the Rock Financial showroom is something that they are considering and while that might not be in Detroit itself, it is still in Michigan.
The Detroit Auto Show is by far one of the biggest auto shows in the world, as it is international and it really gives a chance for the auto makers to really showcase exactly what they have – however, Detroit is not the best place for them to be having it as Detroit is basically owned by GM. Places like LA and New York are being considered right now.
Alls I have to say is that I hope that they do not exactly move the auto show simply because I live in Michigan! However, if they do – it’s okay and we’ll hopefully see a turn around in coming years!
Officials of the United Auto Workers (UAW) disclose that car makers GM and Chrysler may not need the additional life line of $17.4 billion from the government.
In their opinion it will be best if the car giants will be able to get out of the mess without having to use additional borrowed funding.
There are experts who see the $13.4 billion aid to GM as sufficient. Some insiders also informed journalists that the car maker will not be asking for more money beyond the allotted $13.4 billion.
UAW is hoping that the sales this year will not be a million or so lower than the dismal sales output of 13.2 million cars. How the car makers’ money will hold out will really depend on the market this year.
The worst projected sale is rock bottom at 10.2 million units. A lot are asking what will be the next move of everyone if this happens. For now, it remains a guessing game.
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We all know that GM is changing the way that they think – they are changing the way that they do things and they are certainly changing the way that they truly act. While 2009 has been a very, very tough year for this particular auto group, they finally have some good news. The workers for GM have taken the hits the most it seems and now – finally, the Human Resources VP Mary Barra sent out an official missive telling that the 3 – 7% pay cuts that everyone was feeling have been restored.