Execs have taken quite the paycut.
My old man heads up supplier quality in China for GM. Belive me when I say he is not making nearly as much as he used to.
Bob Lutz and Rick Wagoner both work for damn near peanuts and same goes for the rest of the top of the line folks. Division leaders took a 35% decrease at the end of 2005 and Lori Queen head of small car development for Chevrolet axed her own position in favor of shortening the command chain.
Yeah, that is true. I think what happens is that many of the union guys realize that their pay cuts are larger in many cases, in terms of percentage of annual pay. Couple that with reductions in retirement plans, and suddenly your life is completely different than what it used to be, while an executive may be able to sell a boat or summer home to counter the effects.
ADDED
Regardless, if a person making $300,000/year loses 35%, they're still making $195,000. Last I checked, that's still well above the povery level. And Wagoner & Co. should be the ones taking the biggest cuts. After all, its their company.
*** Edited 5/23/2006 6:22:38 PM UTC by djDaemon***
Brandon
You know what I mean. They've got enough vested in the company (not to mention enough money already earned) that they should be the first ones to take a cut.
To make my point (and do NOT take this personally): Has your Dad had to get a second job to supplement his lost income? You don't have to answer that, as its really none of my (or anyone else's) business, though I'm sure I already know the answer. And that's my point - those at the top take insignificant cuts to show they care and they're in the same boat, when really they are not.
Brandon
I will answer that, no he has not. However he has been offered a buyout when he returns from China hopefully in October.
I've been let go twice from GM now. Once from Lake Orion and once from Pontiac.
While I agree with you that the idea of "writing off the entire damn union structure as a whole is ridiculous, at best." Some unions are still very much legit.
However the UAW as whole is ridiculous these days. There are laws in place to prevent firing for idiotic reasons and health concerns in plants and most companies offer great benefits without some silly idea of having to negotiate.
Look at Toyota, no unions and sitting on top of the world (for now, even though they were recently downgraded from buy to neutral for becoming too big) the employees are happy and are working for a real down to earth wage.
Umm... no offense folks, but when did CP move from Sandusky to Detroit?
2006 CP Visits: Lost count...
Next visit: May 13th...?
I wouldn't mind hearing the story.
Kyle D
Rollbacks - 1 - Opening Day 2005
Last TTD train of the night (6-23/24).
..when did cp move from Sandusky to Detroit?..
Last week.
Part of it is in Hart Plaza. The other part was stolen, stripped down and has been sold for scrap. *** Edited 5/23/2006 7:20:42 PM UTC by Coastern3rd***
The part earlier where I said there are two sides to every story? Same applies with unions. Don't believe all the stereotypes you hear.
*** Edited 5/23/2006 8:42:35 PM UTC by Walt***
People just don't fired for no reason. The morons who get fired for doing dumb stuff think this. I've known a lot of kids who have gotten fired from jobs, and I'm yet to hear one story where they didn't deserve it.
What I find particularly interesting is the "contract" they have you sign as a condition of employment.
A contract is an agreement where each side gets something of value in exchange. A "quid pro quo" if you will. There must be offer, acceptance and consideration.
The "contracts" CP has employees sign arguably bind only the employee but not the park. If you don't get your bonus, you can't sue CP for breach of contract. You are bound to follow CP's rules and regulations in exchange for at-will employment status? It doesn't really make sense. You don't need a contract to be "at-will."
Ohio is an "At will" employment state. If a valid contract exists, it can be argued that an employee's "at-will" status is altered. However, no one (quite understandably) wants to take on the expense of suing CP over 6 bucks per hour. It's disappointing because CP should consider its seasonal help's role in its continuing success.
I am aware that there are "spies" from CP who read these posts. When CP does something smart, I praise them. When they do something ill-advised, I am hopeful they read and consider what their employees, alums and/or paying customers have to say and take it to heart.
The bottom line is the park can do better in employee relations.
JuggaLotus said:
I understand that part too. However, if the company folds, so does your retirement plan.
Not true.
Defined benefit plans aka "pension plans" are held in trust seperate from a corporation.
Defined contribution plans aka "401k" are also held seperately and belong the contributing employee except for their non-vested portion.
There are exceptions...
I'm sure he can. I even get the GM discount, and I don't even work directly for GM.
Ask around - there are probably plenty of people you already know who can get you a discount.
Brandon
It's my understanding no one can get a discount on a Vette. I think only high level execs can do a drive and buy on it. Thats where they tag the car, drive it as a company vehicle for 3 months and then get a less than 5% off the price. Z06 is out of the question...
Imagine being 18 and saving up cash for 4 years, while driving a beat up 1978 Mercury Cougar with a V8 that got 10 mpg going down hill in hopes you'll get a Vette. Only to have the discount taken away before they launched the C5 z06. Then having to settle for a 99 GMC Envoy with a dreadfully slow v6 and 4 speed transmission. *** Edited 5/25/2006 1:02:06 PM UTC by Coastern3rd***
Kenso - However, if the company goes under, there is no more money going into that trust. It will dry up at some point, and probably before it is finished paying out.
Goodbye MrScott
John
First, was that the first thing you were warned or written up about? Second, the contract you sign for cedar point states that the employer or the employee can terminate employment at any time subject to the loss of the completion bonus. Third, the one thing that cedar point does is make sure that anything that is ever said to you is documented, so be assured that they didnt just fire you for one thing, but they had documented you for at least one other violation.
1999 CCTC TL, 2002 MF, 2003 TL TPK Cars, 2004 TL Blue Streak, 2005 TL Mantis: Real World Teacher 2005-Present
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