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Old 05-19-2012, 07:21 PM
 
Location: Indianapolis
3,900 posts, read 1,899,365 times
Reputation: 957
Quote:
Originally Posted by grmasterb View Post
We can thank Richard Mourdock for that, right??

wtf does Richard Mourdock have to do with this?
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Old 05-19-2012, 07:27 PM
 
Location: Fishers, IN
5,655 posts, read 6,107,628 times
Reputation: 2972
Quote:
Originally Posted by Broadrippleguy View Post
wtf does Richard Mourdock have to do with this?
Google Richard Mourdock and the Chrysler bailout.
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Old 05-20-2012, 04:44 AM
 
Location: North central Indiana
197 posts, read 158,777 times
Reputation: 251
Quote:
Originally Posted by Broadrippleguy View Post
well isnt Chrysler hiring people in Kokomo or is that over now?
just a few years ago we questioned are chrysler and GM going to be around anymore
They have stopped hiring production workers but still picking up a few skilled now and then. Chrysler is the reason that I said most not all new jobs have been very low paying. I am just saying that the jobs that have left Indiana and across the country are not being replaced with equal paying jobs. I am very blessed to have a good job with excellent benefits and wish the same for everyone but there is just not many of them left.
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Old 05-20-2012, 05:00 AM
 
Location: Chicago, IL SouthWest Suburbs
3,528 posts, read 2,809,236 times
Reputation: 6078
BRP ,

I thought you were dead set against government infusing themselves in the workplace?

Wold be curious to hear your thoughts on GM and Kokomo.
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Old 05-20-2012, 06:19 AM
 
Location: Indianapolis
3,900 posts, read 1,899,365 times
Reputation: 957
Quote:
Originally Posted by sunnyandcloudydays View Post
BRP ,

I thought you were dead set against government infusing themselves in the workplace?

Wold be curious to hear your thoughts on GM and Kokomo.
I think the bailouts were a necessary evil and i dont hold the Government responsible for it. instead i hold the years of Unions and bad unsustainable contracts with insane pensions and this mindset that there isnt any competition as the fundamental problems that lead to the bailouts.
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Old 05-20-2012, 06:29 AM
 
Location: Chicago, IL SouthWest Suburbs
3,528 posts, read 2,809,236 times
Reputation: 6078
The bailouts were very much needed to save the jobs of many families incomes and dreams.

As far as unions representing publically traded companies that is probably a subject better for a different board.

To say the least if Kokomo, IN is turning around then I certainly will cheer them on and wish all of the workers prosperity.

Most of the jobs allow them to gain homeownership, send the children to school and live in middle class America.

Without jobs like this we dont have much to lean on as a country.

Take for example a welder making a livable wage or above avearage middle class wage.

The worker is more than likely able to give back to society and spur other developments like investing his own private money.
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Old 05-21-2012, 03:44 AM
 
Location: Indianapolis
3,900 posts, read 1,899,365 times
Reputation: 957
Quote:
Originally Posted by sunnyandcloudydays View Post
The bailouts were very much needed to save the jobs of many families incomes and dreams.

As far as unions representing publically traded companies that is probably a subject better for a different board.

To say the least if Kokomo, IN is turning around then I certainly will cheer them on and wish all of the workers prosperity.

Most of the jobs allow them to gain homeownership, send the children to school and live in middle class America.

Without jobs like this we dont have much to lean on as a country.

Take for example a welder making a livable wage or above avearage middle class wage.

The worker is more than likely able to give back to society and spur other developments like investing his own private money.

Exactly the bailouts were needed. Im a person that would of wanted to avoid the bailouts in the first place but its done and we just have to live with that. In the future though companies know to tell Unions to stick if it there are financial woes.
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Old 05-24-2012, 12:28 PM
 
2,747 posts, read 2,078,911 times
Reputation: 1236
Bailout of the big 3 was probably necessary seeing the hundreds of thousands they employ directly and the hundreds of thousands that are employed indirectly due to companies working with the big three providing goods/services. That even over the banks would have almost been a death blow. The banks, shouldn't have been bailed out period. Poor decisions on lavish bonuses is no reason to bail out an AIG. We bailed them out once, they squandered the money on lavish retreats and huge bonuses to the execs. Bailed them out twice and the same thing. At this point, it should just fail and the US should be done with them. The financial sector is real big on Wall Street talk and letting Wall Street dictate and not the government. That was until they screwed it up and those same fat cats went running to the taxpayers (government) to bail them out of their self created mess. The answer should have been a resounding hell no from the taxpayers but George junior was quick to say give them a blank check. Wall St got them in it, let Wall St get them out of it and you just take your lumps like everyone else.

The problem with the big three and large outfits that are heavy union tends to be the pensions and health benefits for the retired. They can't keep up with those massive pensions from someone spending 35 years putting one piece in place on an assembly line. Even today, USPS is about to go belly up because of of the 5 billion dollar up front pension payment that have to make year in and year out. Congress sure screwed that one up by forcing them to do that. Even Hostess is about to go under why; they can't afford their 2 billion dollar or so pension payments. In both cases, the union will NOT negotiate. Just like when the Stamping plant closed. The union would rather everyone be out of a job than to capitulate to anything for the good of their members.
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Old 05-26-2012, 01:49 PM
 
1,788 posts, read 1,499,361 times
Reputation: 1215
Amazing how clueless and stupid people are about the "bailouts". The bailouts were not at all necessary for the automakers. Thats why we have something in business called Chapter 11 bankruptcy, which was favored by Mitt Romney, but because people are so gullible and uninformed they took that to mean "allow to go out of business". In reality, that would have allowed them to not be liable for the debt they owed or restructure it, along with total freedom to restructure the UAW contracts. Anyone ever hear of Chapter 11 bankruptcy???????????

The bank "bailouts" were another thing that people are clueless about. It wasn't a bailout the way the media made it out to be. It was a US purchase of stock in the banks for money so they could stay afloat. It was essentially a loan collateralized by stock. So it was a trade of ownership for equity, that the banks later bought back after the company and stocks recovered. The US actually made money and got all of their money back on the bank "bailouts" because the stocks were so low when the US purchased the stock. Most of the banks at least. Google it. Almost all of the banks paid back the money.


"Chapter 11 affords the debtor in possession a number of mechanisms to restructure its business. A debtor in possession can acquire financing and loans on favorable terms by giving new lenders first priority on the business' earnings. The court may also permit the debtor in possession to reject and cancel contracts. Debtors are also protected from other litigation against the business through the imposition of an automatic stay. While the automatic stay is in place, most litigation against the debtor is stayed, or put on hold, until it can be resolved in bankruptcy court, or resumed in its original venue."

Last edited by jman07; 05-26-2012 at 01:58 PM..
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Old 05-30-2012, 12:59 PM
 
Location: Volcano
11,961 posts, read 9,732,647 times
Reputation: 9339
Quote:
Originally Posted by rrtechno View Post
While there are new jobs appearing, a drop in the unemployment rate is not necessarily caused entirely by new jobs. As people's unemployment compensation expires, they are no longer counted in the unemployment figures, thus a lower rate.
It all depends on WHICH unemployment rate you look at. The Bureau of Labor Statistics tracks unemployment six different ways, with six different definitions, as detailed here:

Alternative Measures of Labor Underutilization for States

The rate that usually gets quoted by State Governments and mentioned in news stories (like the one quoted) as the "official" rate is the U3 rate, which includes those who have recently stopped receiving unemployment compensation but who are still actively pursuing work (i.e., have searched within the last 4 weeks).

Many economists, however, assert that the true unemployment rate must include "discouraged workers," those who have been out of work so long they've given up looking, or haven't looked recently because they believe there are no jobs for them due to the economy. That is the U4 rate.

Then the U5 rate adds those who want to work but who have stopped looking for other reasons.

And finally, the U6 rate includes those who have taken part-time or marginal jobs (burger flippers), so they are technically not unemployed, but who are not working at their normal economic level. For 2nd quarter 2011 through 1st quarter 2012 Indiana's U6 Unemployment rate averaged 15.6%.

The other thing to keep in mind is that although Indiana has improved, at 7.9% (April 2012 U3) the state is only #33 overall. That's nothing to brag about.

Unemployment Rates for States
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