Janesville's GM Plant

[69 Post Sedan]

I received a couple of pictures the other day of some work being done on the GM plant here in Janesville. From what I understand, this has been happening quite often recently.

One rumor that a lot of people have been hearing, including former employees, is that the 5 year contract that was signed in 2007 is over this year. After that, GM will be reopening the plant with the wages about half of what they were.

My personal thoughts is if this happens, it will be great for the surrounding communities. IMO

Kurt

[John Brown]

I thought that the GM bankruptcy voided all previous contracts. How could there be a valid contract still in force?

[kwhizz]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: John Brown</div><div class="ubbcode-body">I thought that the GM bankruptcy voided all previous contracts. How could there be a valid contract still in force? </div></div>


GM actually never went thru Bankruptcy............Obama just gave them money......after screwing all the Bondholders out of their Bond money........It would have been better for the company to go thru a structured Bankruptcy than the way it was done as there was nothing done to correct the problem (Legacy Costs) the way it was done.....when GM runs out of our Money,,,,,they will be back looking for more........

[nova7579]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: kwhizz</div><div class="ubbcode-body">


GM actually never went thru Bankruptcy............Obama just gave them money......after screwing all the Bondholders out of their Bond money........It would have been better for the company to go thru a structured Bankruptcy than the way it was done as there was nothing done to correct the problem (Legacy Costs) the way it was done.....when GM runs out of our Money,,,,,they will be back looking for more........ </div></div>



And Georgey bailed his buddies out in the Insurance and Banking industries!!!!!!!!!!!!!!!!!

[kwhizz]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: nova7579</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: kwhizz</div><div class="ubbcode-body">


GM actually never went thru Bankruptcy............Obama just gave them money......after screwing all the Bondholders out of their Bond money........It would have been better for the company to go thru a structured Bankruptcy than the way it was done as there was nothing done to correct the problem (Legacy Costs) the way it was done.....when GM runs out of our Money,,,,,they will be back looking for more........ </div></div>



And Georgey bailed his buddies out in the Insurance and Banking industries!!!!!!!!!!!!!!!!! </div></div>


We are talking about the GM Plant in Janesville........No Politics........

[TimG]

I drove by Janesville a thousand times in the 70's going from Chicago to Madison for school. At that time, I never knew there was a GM pland in Janesville. You don't see it from the highway.

[69 Post Sedan]

From what I understand GM was held to the contracts but any new hires were brought in at around $14-$15 hour. Most people, especially in this area, think the loan was a great thing otherwise many more jobs would have been lost causing more issues with the economy. Plus the retirees would have had their benefits, which they earned, cut big time. And we know it worked as both GM &amp; Chrysler are above water again with GM paying back the loan and Chrysler paid it back......with interest.

Anyway, people are hoping it re-opens.....thinking positive. [img]<<GRAEMLIN_URL>>/biggthumpup.gif[/img]

Kurt

[kwhizz]

The Taxpayers are out 30 Billion dollars so far in the GM bailout.......

[resto4u]

It would be great if they were to re-open. Maybe GM realizes that wisconsin has a very skilled and dedicated workforce. It would be great for walkers job creation.... Not [img]<<GRAEMLIN_URL>>/rolleyes.gif[/img] [img]<<GRAEMLIN_URL>>/stupid.gif[/img]

[kwhizz]

In the new Global economy......I would much rather see GM reopen the Janesville plant rather than build a new one in China.......