johnnystecco
Nuovo forumer
Appunto dicevo o così o tutti a casa....
Obbligazioni societarie GM, Ford, Chrysler: il 3D dell'automotive USA (3 lettori)
- Creatore Discussione Imark
- Data di Inizio
Appunto dicevo o così o tutti a casa....
Imark
Forumer storico
Sì, ma facevo riferimento ai dipendenti delle fabbriche giapponesi in USA, non a quelli in Giappone.
Sono i dipendenti americani di Toyota, Honda ecc. a guadagnare circa 42 $ l'ora.
Per GM i dati sono quelli postati da Paolo: i vecchi dipendenti sindacalizzati guadagnano:
$78.21
Hourly labor costs, including benefits, for current GM workers.
I nuovi dipendenti guadagnano:
$26.65
Hourly labor costs for new GM hires.
Imark
Forumer storico
Infatti: lo stesso Obama deve fare qualcosa che risolve, in una maniera o nell'altra, altrimenti perde la faccia. o è lui a dire agli altri cosa fare, o sono gli altri a dire a lui cosa fare... e siccome lui è il Presidente, e anche quello che ci mette i soldi...
Certo, va detto che gli interessati fanno parte della sua base elettorale, ma anche tutti gli altri operai e colletti bianchi che non lavorano per GM, e che se l'azienda fallisce si trovano senza lavoro, sono parte della sua base elettorale...
Come fai a dirgli che quelli di GM li salvi "ad oltranza" e per gli altri c'è il mercato e si arrangino ?
paologorgo
Chapter 11
Imark
Forumer storico
No probl ...
certo questa sperequazione per cui un nuovo dipendente costa complessivamente 1/3 dei vecchi dipendenti è terrificante...
paologorgo
Chapter 11
Last year was the first time that non-unionized workers at a foreign-owned assembly plant made more than members of the United Auto Workers union make on average in a year. (2006 ndr)
The Detroit Free Press reveals in a very interesting article that Toyota paid out bonuses of $6,000 to $8,000 last year at its largest U.S. plant in Georgetown, KY. Combined with the base pay made by a non-union worker at the plant, that equates to $30/hour or $60,000/year based on a 2,000-hour work year. That is more than the $27/hour or $54,000 a UAW member made on average last year. Union workers, or course, hardly received any profit sharing bonuses last year due to the poor overall performance of the domestic automakers.
http://www.autoblog.com/2007/01/31/toyota-workers-in-us-made-more-than-uaw-members-for-first-time-l/
The Detroit Free Press reveals in a very interesting article that Toyota paid out bonuses of $6,000 to $8,000 last year at its largest U.S. plant in Georgetown, KY. Combined with the base pay made by a non-union worker at the plant, that equates to $30/hour or $60,000/year based on a 2,000-hour work year. That is more than the $27/hour or $54,000 a UAW member made on average last year. Union workers, or course, hardly received any profit sharing bonuses last year due to the poor overall performance of the domestic automakers.
http://www.autoblog.com/2007/01/31/toyota-workers-in-us-made-more-than-uaw-members-for-first-time-l/
negusneg
New Member
GM Bondholders Seek to Minimize ‘Free Riders’ in Debt Exchange
By Caroline Salas
Feb. 14 (Bloomberg) -- General Motors Corp. bondholders are working with the automaker to craft a debt exchange that discourages investors from not participating, according to a person with direct knowledge of the discussions.
The talks include giving investors who exchange their debt greater security and more seniority over unsecured bondholders who don’t in an effort to ensure maximum participation and avoid bankruptcy, said the person, who declined to be identified because the negotiations are confidential. Detroit-based GM needs to cut two-thirds of its $27.5 billion in unsecured public debt as required by the U.S. government so it can keep $13.4 billion in aid and skirt bankruptcy. Talks are continuing through the weekend ahead of a progress report due Feb. 17.
Bondholders also want to avoid a repeat of the GMAC LLC situation. That’s where Pacific Investment Management Co., manager of the world’s biggest bond fund, reneged on a Dec. 15 agreement to join other creditors in the finance company’s $38 billion debt swap only to later see its holdings soar. The 10- member GM bondholder committee overlaps with the GMAC group.
“There is little incentive not to be a ‘free rider’ holdout on the exchange, as GM is unlikely to be able to offer a coercive deal that makes tendering bondholders better off than non- tendering bondholders in event of a later bankruptcy,” Brian Johnson, an analyst at Barclays Capital in New York, wrote in a report dated Feb. 13.
Reducing Debt
The government is requiring that GM convince bondholders to accept terms that reduce $27.5 billion in unsecured debt to $9.2 billion in an exchange for equity. About $14.1 billion in debt won’t be affected by the exchange offers.
“The problem with the debt exchange is that with little equity value in GM, and a highly leveraged company remaining, the bondholders are not receiving significant value for giving up their par claims,” Barclays’ Johnson wrote in the report.
One of the obstacles to coming up with an attractive offer for bondholders is that GM has already pledged most of its assets to existing debt, according to the person.
The bondholder committee, which includes San Mateo, California-based Franklin Resources Inc. and Fidelity Investments of Boston, is also discussing how much of their principal they’re willing to give up, the person said.
Recovery Estimates
A JPMorgan Chase & Co. report on Feb. 11 suggested bondholders should recover 50 cents on the dollar based on the treatment of a retiree health-care fund. The government’s loan terms require GM to get an agreement from the United Auto Workers to cut cash contributions to a union-run retiree health-care fund to $10.2 billion from $20.4 billion in exchange for equity.
Bondholders aren’t just looking at the treatment of that fund in their requests and haven’t asked for a 50-cent recovery, the person said. The UAW union stopped negotiations with GM last night after objecting to proposals relating to the retiree health-care fund, a person familiar with the talks said.
GM’s $3 billion of 8.375 percent bonds due in 2033 rose 1 cent yesterday to 15.8 cents on the dollar, their highest price in almost a month, to yield 53 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. A year ago, the debt traded at about 81 cents.
In December, Newport Beach, California-based Pimco pulled out of an investor group participating in GMAC’s debt swap. While holders led by Dodge & Cox accepted as little as 60 cents on the dollar to reduce GMAC’s debt, the bonds Pimco kept soared as much as 83 percent, to 80.5 cents on the dollar, after GMAC won approval to become a federally backed bank.
Pimco resigned from the steering committee of GM bondholders in January.
To contact the reporter on this story: Caroline Salas in New York at [email protected]
Last Updated: February 14, 2009 14:14 EST
By Caroline Salas
Feb. 14 (Bloomberg) -- General Motors Corp. bondholders are working with the automaker to craft a debt exchange that discourages investors from not participating, according to a person with direct knowledge of the discussions.
The talks include giving investors who exchange their debt greater security and more seniority over unsecured bondholders who don’t in an effort to ensure maximum participation and avoid bankruptcy, said the person, who declined to be identified because the negotiations are confidential. Detroit-based GM needs to cut two-thirds of its $27.5 billion in unsecured public debt as required by the U.S. government so it can keep $13.4 billion in aid and skirt bankruptcy. Talks are continuing through the weekend ahead of a progress report due Feb. 17.
Bondholders also want to avoid a repeat of the GMAC LLC situation. That’s where Pacific Investment Management Co., manager of the world’s biggest bond fund, reneged on a Dec. 15 agreement to join other creditors in the finance company’s $38 billion debt swap only to later see its holdings soar. The 10- member GM bondholder committee overlaps with the GMAC group.
“There is little incentive not to be a ‘free rider’ holdout on the exchange, as GM is unlikely to be able to offer a coercive deal that makes tendering bondholders better off than non- tendering bondholders in event of a later bankruptcy,” Brian Johnson, an analyst at Barclays Capital in New York, wrote in a report dated Feb. 13.
Reducing Debt
The government is requiring that GM convince bondholders to accept terms that reduce $27.5 billion in unsecured debt to $9.2 billion in an exchange for equity. About $14.1 billion in debt won’t be affected by the exchange offers.
“The problem with the debt exchange is that with little equity value in GM, and a highly leveraged company remaining, the bondholders are not receiving significant value for giving up their par claims,” Barclays’ Johnson wrote in the report.
One of the obstacles to coming up with an attractive offer for bondholders is that GM has already pledged most of its assets to existing debt, according to the person.
The bondholder committee, which includes San Mateo, California-based Franklin Resources Inc. and Fidelity Investments of Boston, is also discussing how much of their principal they’re willing to give up, the person said.
Recovery Estimates
A JPMorgan Chase & Co. report on Feb. 11 suggested bondholders should recover 50 cents on the dollar based on the treatment of a retiree health-care fund. The government’s loan terms require GM to get an agreement from the United Auto Workers to cut cash contributions to a union-run retiree health-care fund to $10.2 billion from $20.4 billion in exchange for equity.
Bondholders aren’t just looking at the treatment of that fund in their requests and haven’t asked for a 50-cent recovery, the person said. The UAW union stopped negotiations with GM last night after objecting to proposals relating to the retiree health-care fund, a person familiar with the talks said.
GM’s $3 billion of 8.375 percent bonds due in 2033 rose 1 cent yesterday to 15.8 cents on the dollar, their highest price in almost a month, to yield 53 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. A year ago, the debt traded at about 81 cents.
In December, Newport Beach, California-based Pimco pulled out of an investor group participating in GMAC’s debt swap. While holders led by Dodge & Cox accepted as little as 60 cents on the dollar to reduce GMAC’s debt, the bonds Pimco kept soared as much as 83 percent, to 80.5 cents on the dollar, after GMAC won approval to become a federally backed bank.
Pimco resigned from the steering committee of GM bondholders in January.
To contact the reporter on this story: Caroline Salas in New York at [email protected]
Last Updated: February 14, 2009 14:14 EST
frankiemachine
Mr. Tentenna
:sorpresa:
paologorgo
Chapter 11
un fantasma si aggira per l'europa: il piano GM... 
- assisteremo a UAW vs European workers?!?
FRANKFURT (Reuters) - General Motors Corp's (NYSE:GM - News) European labor leaders called on Monday for a spin-off of the Opel/Vauxhall brand rather than face what they called potentially fatal cost-cutting in Europe by the stricken U.S. carmaker.
"The spin-off of Opel/Vauxhall ... and the spin-off of (Swedish brand) Saab is the only reasonable and feasible option for General Motors which would not destroy the European operations and its European assets and could avoid lawsuits," a statement on the labor force's website said.
GM, recipient of a bailout from Washington, has a Tuesday deadline to present a plan to the U.S. government on how it plans to remain viable.
The workers' statement, signed by the heads of the company's European Employee Forum, said GM management had show main elements of the plan called Project Renaissance to selected analysts last week.
"The current plan could include for the Opel/Vauxhall brand and the GM/Opel/Vauxhall subsidiaries mass dismissals and probably several plant closures. This would have disastrous consequences for the GM brands and companies in Europe and will finish them off," the statement said.
"Moreover, the plan is not viable taking in consideration the needed loans guaranteed by European governments and the existing legally binding contracts on the European and national level."
The statement did not make clear whether European labor representatives had actually seen the plan and the labor leaders were not immediately available for comment.
http://finance.yahoo.com/news/GM-Europe-unions-seek-spinoff-rb-14370532.html
- assisteremo a UAW vs European workers?!? FRANKFURT (Reuters) - General Motors Corp's (NYSE:GM - News) European labor leaders called on Monday for a spin-off of the Opel/Vauxhall brand rather than face what they called potentially fatal cost-cutting in Europe by the stricken U.S. carmaker.
"The spin-off of Opel/Vauxhall ... and the spin-off of (Swedish brand) Saab is the only reasonable and feasible option for General Motors which would not destroy the European operations and its European assets and could avoid lawsuits," a statement on the labor force's website said.
GM, recipient of a bailout from Washington, has a Tuesday deadline to present a plan to the U.S. government on how it plans to remain viable.
The workers' statement, signed by the heads of the company's European Employee Forum, said GM management had show main elements of the plan called Project Renaissance to selected analysts last week.
"The current plan could include for the Opel/Vauxhall brand and the GM/Opel/Vauxhall subsidiaries mass dismissals and probably several plant closures. This would have disastrous consequences for the GM brands and companies in Europe and will finish them off," the statement said.
"Moreover, the plan is not viable taking in consideration the needed loans guaranteed by European governments and the existing legally binding contracts on the European and national level."
The statement did not make clear whether European labor representatives had actually seen the plan and the labor leaders were not immediately available for comment.
http://finance.yahoo.com/news/GM-Europe-unions-seek-spinoff-rb-14370532.html