danehilby Posted October 24, 2009 Share Posted October 24, 2009 Doesn't the UAW now own large portions of GM & Chrys because of the VEBA Commitments? If they can keep Wages & Benefits at lower costs in all of Big 3, will they not profit from this? Can someone enlighten me on this? Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 Doesn't the UAW now own large portions of GM & Chrys because of the VEBA Commitments? If they can keep Wages & Benefits at lower costs in all of Big 3, will they not profit from this? Can someone enlighten me on this? sure sounds like a giant conflict of interest to me...vote NO Quote Link to comment Share on other sites More sharing options...
Spring Posted October 24, 2009 Share Posted October 24, 2009 sure sounds like a giant conflict of interest to me...vote NO What about Board of Director seats? Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 What about Board of Director seats? what about them..thats just another place for our IUAW pukes to hide...vote NO Quote Link to comment Share on other sites More sharing options...
Spring Posted October 24, 2009 Share Posted October 24, 2009 what about them..thats just another place for our IUAW pukes to hide...vote NO That's what I'm saying! CONFLICT OF INTEREST! Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 That's what I'm saying! CONFLICT OF INTEREST! your correct..another reason to just say NO to these concessions..we need time for the smoke to clear..then in 2011 we get a better feel for whats happening..vote no Quote Link to comment Share on other sites More sharing options...
Captain723 Posted October 24, 2009 Share Posted October 24, 2009 sure sounds like a giant conflict of interest to me...vote NO FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Quote Link to comment Share on other sites More sharing options...
MichiganTruck_Mafia Posted October 24, 2009 Share Posted October 24, 2009 how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Right, because Ford has such a great history of fulfilling their commitments. Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! yes I do know..Because now isn't the time to give back more..we have alreasdy given too much..This union needs to send a message ..that message is HELL NO Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! I just hope to God your not negotiating for me..asshole..vote no Quote Link to comment Share on other sites More sharing options...
snoopy Posted October 24, 2009 Share Posted October 24, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Ill tell you what craptain reveal who you r and I will reveal who I am. You r for pattern bargaining? Well let Ford go into bankruptcy just like the other two. Now that will be a pattern. Times are tough for everyone so if they are going to put me and my other union brothers and sisters in the poor house then I will take them with me. Our bills are not going down and inflation is in the short future. It doesn't take a rocket scientist to figure out that enough is enough. You and all the rest of these liberals want to raise taxes and fuck us all some more. stick your pro company opinions in your holy-then-thou ass. Reveal who you really are because we all know what you stand for. Come out from under Bob Kings desk you spineless butt pirate. Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 Right, because Ford has such a great history of fulfilling their commitments. thats right ford needs to finish out a contract and fulfill promises already made..until then keep voting NO.. Quote Link to comment Share on other sites More sharing options...
TBodette68 Posted October 24, 2009 Share Posted October 24, 2009 Ill tell you what craptain reveal who you r and I will reveal who I am. You r for pattern bargaining? Well let Ford go into bankruptcy just like the other two. Now that will be a pattern. Times are tough for everyone so if they are going to put me and my other union brothers and sisters in the poor house then I will take them with me. Our bills are not going down and inflation is in the short future. It doesn't take a rocket scientist to figure out that enough is enough. You and all the rest of these liberals want to raise taxes and fuck us all some more. stick your pro company opinions in your holy-then-thou ass. Reveal who you really are because we all know what you stand for. Come out from under Bob Kings desk you spineless butt pirate. come on out captain gutless..vote NO when you grow some balls Quote Link to comment Share on other sites More sharing options...
danehilby Posted October 24, 2009 Author Share Posted October 24, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Well, Captain723, looks like the pot calling the kettle black! First, Ford is financing it's VEBA Commitment by issuing & selling large portions of stock, driving the price of your Ford stock down. You say the UAW can't profit by these Ford concessions? If UAW-Ford workers concede, then in six years all 3 will be fighting for increases to their wages set at today's standard. However, if the UAW-Ford workers can keep their wages increasing in the next contract, GM & Chrys will probably regain theirs in six years (think Chrys in the 80"s). Therefore, IT DOES profit the UAW to keep UAW-Ford wages & benefits down. Apparently YOU got your education on-line at the University of Self-Thought Quote Link to comment Share on other sites More sharing options...
snoopy Posted October 24, 2009 Share Posted October 24, 2009 Well, Captain723, looks like the pot calling the kettle black! First, Ford is financing it's VEBA Commitment by issuing & selling large portions of stock, driving the price of your Ford stock down. You say the UAW can't profit by these Ford concessions? If UAW-Ford workers concede, then in six years all 3 will be fighting for increases to their wages set at today's standard. However, if the UAW-Ford workers can keep their wages increasing in the next contract, GM & Chrys will probably regain theirs in six years (think Chrys in the 80"s). Therefore, IT DOES profit the UAW to keep UAW-Ford wages & benefits down. Apparently YOU got your education on-line at the University of Self-Thought The university of Kick-back is more like it. He has a sever case of the dumb ass Quote Link to comment Share on other sites More sharing options...
gocash Posted October 24, 2009 Share Posted October 24, 2009 The university of Kick-back is more like it. He has a sever case of the dumb ass I think his education is from the "School of Stupidity" Quote Link to comment Share on other sites More sharing options...
danehilby Posted October 24, 2009 Author Share Posted October 24, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Captain723 Super Zip Another train of thought to go along with my last comment: Again, keeping UAW-Ford wages down will keep UAW-GM & UAW-Chrys wages down. Since UAW-VEBA owns over 67% of Chrys & more than 17.5% of GM, if you can't see that keeping all wages & benefits down, maybe you need to update your beany-cap power!!! Quote Link to comment Share on other sites More sharing options...
skeptic Posted October 24, 2009 Share Posted October 24, 2009 (edited) FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! I'm voting No because you seem to be voting Yes.The UAW does not care about members anymore they will reap huge profits from the money they generate in interest from the VEBA as well as the strike funds.Union dues are chicken shit to them.This is the reason they will cut retiree benifits as well as not want to strike because they will not want to kill the goose they hope will lay golden eggs. Edited October 24, 2009 by skeptic Quote Link to comment Share on other sites More sharing options...
Len_A Posted October 24, 2009 Share Posted October 24, 2009 Captain723 Super Zip Another train of thought to go along with my last comment: Again, keeping UAW-Ford wages down will keep UAW-GM & UAW-Chrys wages down. Since UAW-VEBA owns over 67% of Chrys & more than 17.5% of GM, if you can't see that keeping all wages & benefits down, maybe you need to update your beany-cap power!!! The administration in Washington are the ones who pushed to keep the GM & Chrysler wages down, regardless of what the UAW Ford Department may want. From http://www.detnews.com/article/20091024/AU...uage+riles+UAW: But the Obama administration worried the union might demand the restoration of lost pay and benefits if GM and Chrysler returned to profitability, jeopardizing the gains, sources said. To ensure that the billions taxpayers invested would not be wasted, the government demanded that the UAW accept limits on its right to strike over pay and benefit increases in 2011 talks, sources said. This so-called "no strike" clause was also key to convincing Italy's Fiat SpA to take over struggling Chrysler, the sources added. Quote Link to comment Share on other sites More sharing options...
Len_A Posted October 24, 2009 Share Posted October 24, 2009 (edited) FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Not accurate. Ford gave a “convertible debenture” or “convertible note.” See: http://www.uaw.org/contracts/07/ford/hrly/ford_hr11.php A financial instrument, backed by Ford, called a “convertible debenture” or “convertible note.” This note will have a face value of $3.3 billion, and Ford will be required to pay annual cash interest on the note for the benefit of the VEBA. In the event that the price of Ford common stock increases above a certain level, VEBA trustees may convert the note to Ford stock and then sell this stock in order to diversify assets in the trust. This “conversion” mechanism allows the VEBA to benefit from increases in Ford’s stock price. For example, if the price of Ford stock increases approximately 50 percent anytime over the next five years, the value of the note would be $5 billion. If the “conversion” is not triggered, the note will continue in effect, and the trustees can enforce Ford’s obligation to pay the trust the face value of the note, along with accrued interest. So Ford's stock price has some effect (to what extent I do not claim to know) on the funding of the VEBA for Ford retirees. Edited October 24, 2009 by Len_A Quote Link to comment Share on other sites More sharing options...
Furious1Auto Posted October 24, 2009 Share Posted October 24, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Your right some I-Reps bought them out of their own personal savings! :shades: Quote Link to comment Share on other sites More sharing options...
Captain723 Posted October 25, 2009 Share Posted October 25, 2009 Your right some I-Reps bought them out of their own personal savings! :shades: Wow, I know you have this conspiracy theory, but any IUAW that has seen Ford's books did not buy any stock in the company, they would be completely stupid. You may see if this thing goes down, I hope not, but the possibility is very real! Quote Link to comment Share on other sites More sharing options...
lquidspine Posted October 25, 2009 Share Posted October 25, 2009 FYI, Ford did not give stock options, GM and Chrysler did and there is a big risk with that and that is why they will liquidate them stocks first chance they get. Nice to see that you are educated on the subject before you post stupid shit you know nothing about. Do you even understand why you are voting no. Fk no you don't! Hope you don't take this the wrong way, but how does the UAW benefit from the loss of 2B committment and 7k jobs to our UAW brothers and sister. Brilliant! Wish you were negotiating for me! Are these the 7 thousand plus jobs that where identified in the 2007 CBA to be entry level positions according to the unpublished letters ? Quote Link to comment Share on other sites More sharing options...
bronco1994 Posted October 25, 2009 Share Posted October 25, 2009 Are these the 7 thousand plus jobs that where identified in the 2007 CBA to be entry level positions according to the unpublished letters ? All and all this looks like a bunch of Smoke and Mirrors Quote Link to comment Share on other sites More sharing options...
stephenhawkings Posted October 25, 2009 Share Posted October 25, 2009 Doesn't the UAW now own large portions of GM & Chrys because of the VEBA Commitments? If they can keep Wages & Benefits at lower costs in all of Big 3, will they not profit from this? Can someone enlighten me on this? profit off of less pay is that possible? Quote Link to comment Share on other sites More sharing options...
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