Comments on: GM and the UAW Tentatively Agree on New Contract http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/ Helping a unique generation achieve financial independence. Sat, 20 Mar 2010 15:15:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Okinawa http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-55330 Okinawa Sat, 02 Feb 2008 04:55:46 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-55330 $25-per-hour labor? Wow, where do I sign up!? $25-per-hour labor? Wow, where do I sign up!?

]]> By: Patrick http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-27070 Patrick Wed, 03 Oct 2007 19:57:16 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-27070 I was out of the country when all of this went down, and I think this is interesting to catch up on it. Thanks for putting this into a concise article. I think GM has a ways to go before everything is solved, but I hope they make it - for the company and the workers. I was out of the country when all of this went down, and I think this is interesting to catch up on it. Thanks for putting this into a concise article.

I think GM has a ways to go before everything is solved, but I hope they make it – for the company and the workers.

]]> By: Asset Manager http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26658 Asset Manager Mon, 01 Oct 2007 16:50:24 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26658 I was glad to see this situation solved so quickly but do you think, given your comments on wage disparity, that this could be the beggining of the end for GM? I was glad to see this situation solved so quickly but do you think, given your comments on wage disparity, that this could be the beggining of the end for GM?

]]> By: Finance Spot » Archive » Late breaking news http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26573 Finance Spot » Archive » Late breaking news Mon, 01 Oct 2007 06:05:44 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26573 [...] Comment on GM and the UAW Tentatively Agree on New Contract by <b>…</b> [...] [...] Comment on GM and the UAW Tentatively Agree on New Contract by <b>…</b> [...]

]]> By: The Sunday Review #40 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26527 The Sunday Review #40 Sun, 30 Sep 2007 18:30:58 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26527 [...] GM and the UAW Tentatively Agree on New Contract by Jeremy @ Generation X Finance. [...] [...] GM and the UAW Tentatively Agree on New Contract by Jeremy @ Generation X Finance. [...]

]]> By: Personal Finance Review - Working Too Hard Edition » Money Smart Life http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26524 Personal Finance Review - Working Too Hard Edition » Money Smart Life Sun, 30 Sep 2007 17:58:58 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26524 [...] -GM and the UAW Tentatively Agree on New Contract @ Generation X Finance [...] [...] -GM and the UAW Tentatively Agree on New Contract @ Generation X Finance [...]

]]> By: Posts I Enjoyed Last Week | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26501 Posts I Enjoyed Last Week | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing Sun, 30 Sep 2007 13:50:18 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26501 [...] at Generation X Finance examined the new contract between GM and UAW and wondered if the agreement can reverse GM’s fortune which is on track to lose the title as [...] [...] at Generation X Finance examined the new contract between GM and UAW and wondered if the agreement can reverse GM’s fortune which is on track to lose the title as [...]

]]> By: Weekend Round-up: Red Sox Clinch Edition http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26361 Weekend Round-up: Red Sox Clinch Edition Sat, 29 Sep 2007 19:04:28 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26361 [...] X Finance does some reporting on GM and UAW’s new contact. We have a houseguest this weekend who was deeply effected by [...] [...] X Finance does some reporting on GM and UAW’s new contact. We have a houseguest this weekend who was deeply effected by [...]

]]> By: » Weekly Roundup: Heroes Is An Amazing Show on Blueprint for Financial Prosperity http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26325 » Weekly Roundup: Heroes Is An Amazing Show on Blueprint for Financial Prosperity Sat, 29 Sep 2007 12:12:24 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26325 [...] Jeremy also takes a look at the GM-UAW contract. [...] [...] Jeremy also takes a look at the GM-UAW contract. [...]

]]> By: Jeremy http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26001 Jeremy Thu, 27 Sep 2007 20:48:52 +0000 http://genxfinance.com/2007/09/26/gm-and-the-uaw-tentatively-agree-on-new-contract/#comment-26001 I agree that is a bit of a generalization, of course. I grew up in a UAW household, and both of my parents have, and still do work for GM, not to mention half of my relatives. You should hear the stories... I think the auto industry is a lot different than the aerospace industry, or at least maybe part of it has to do with location as well. But there is almost no reward for advancement. You would expect, as you stated in your example, that you are supposed to increase your skill set and take on more responsibility in order to increase pay, but this is the exception, not the norm. Take my mother for example. She's been there for over 25 years. This time was spent doing the exact same thing--sitting in a chair and sticking a little spring into a hole in a part that comes down the line. That's it, a monkey or robot could do it, yet there are times when she can bring home close to 80k/year. She has worked with some of the same people in the same department for over a decade and it is the same. Nobody has advanced, and nobody wants to. Why take on more responsibility when your pay continues to skyrocket based on your seniority? Of course there are people who want to advance their careers and can take the initiative to advance and make even more money, but since you can make so much money just by staying with the company doing the same thing, what is the incentive? So, I agree that it may have been a bit generalized, but the union has created an environment that rewards loyalty, not performance or advancement. That is why you have so many 70+ year olds still working in the factories. I agree that is a bit of a generalization, of course. I grew up in a UAW household, and both of my parents have, and still do work for GM, not to mention half of my relatives. You should hear the stories… I think the auto industry is a lot different than the aerospace industry, or at least maybe part of it has to do with location as well.

But there is almost no reward for advancement. You would expect, as you stated in your example, that you are supposed to increase your skill set and take on more responsibility in order to increase pay, but this is the exception, not the norm.

Take my mother for example. She’s been there for over 25 years. This time was spent doing the exact same thing–sitting in a chair and sticking a little spring into a hole in a part that comes down the line.

That’s it, a monkey or robot could do it, yet there are times when she can bring home close to 80k/year. She has worked with some of the same people in the same department for over a decade and it is the same. Nobody has advanced, and nobody wants to. Why take on more responsibility when your pay continues to skyrocket based on your seniority?

Of course there are people who want to advance their careers and can take the initiative to advance and make even more money, but since you can make so much money just by staying with the company doing the same thing, what is the incentive?

So, I agree that it may have been a bit generalized, but the union has created an environment that rewards loyalty, not performance or advancement. That is why you have so many 70+ year olds still working in the factories.

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