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It may be better for GM's long term health to do this. By closing temporarily they reduce inventory and bring better balance to the supply & demand for their products. Chugging along and creating greater supply with no increase in demand might only lead to a more permanent closure.
That said, the short-term effects will be painful, especially for Michigan, which already has enough to worry about. The unemployment compensation tab for the state must be huge. But, like other corporations, GM is likely more beholden to their shareholders than they are to the community at large. The irony is that probably many of the people who are being laid off are among those shareholders by way of owning stocks and mutual funds.
It will be interesting to see if Chrysler and Ford follow suit. By reducing inventory, GM may actually be helping the other two, though I think it would be a negligible effect.
Personally, I dont know why? GM will have to pay unemployment to each of them, and thats going to be just about how much they will have to pay them a regular salary anyways, so, why not just have them on the assembly line, 'doing something constuctive'???
I heard that it just about cost as much to have someone on unemployment as it does to pay them to work, (according to my old boss), so its why we never got laid off...
Personally, I dont know why? GM will have to pay unemployment to each of them, and thats going to be just about how much they will have to pay them a regular salary anyways, so, why not just have them on the assembly line, 'doing something constuctive'???
I heard that it just about cost as much to have someone on unemployment as it does to pay them to work, (according to my old boss), so its why we never got laid off...
Later.
Jesse
They say the inventory is too full. Which I believe ... I have literally worked myself out of a job before because I made too much inventory.
Anyway, the 2 week summer shutdown has been going on for as long as i can remember (my dad worked for GM for 30 years), to switch over to the next model year. Like I said, this is just longer for various other reasons, and the news picked up on it to get everyone freaking out again.
If your workplace closed for two months but you were still paid, what would you do with your self?
People are talking about the autoworkers being idled for nine weeks. But with their union contract most of them will be paid at about 70% of their income during this extended period.
If this was me and I was sure I would be brought back to work in two months, I would not complain. I could easily find pick up work to make up for the difference in pay through temp agencies and helping a friend who mows lawns and does painting, etc.
How about you, would you like to be laid off for two months at 70% of your pay if you knew for sure your job would be back at that time? If so, what would you do during that time off work?
Yes, this is nothing new. I mean they already shut down all the plants in for two weeks in July anyway, this will just be ... extended.
But if you all want to turn it into another "omgz the sky is falling!" thread, go right ahead.
Not at all. I just didn't realize that was the case in a shutdown this long.
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If your workplace closed for two months but you were still paid, what would you do with your self?
