Mattel Inc. worth more than G.M.

[67BelAir427]

According to the latest stock valuation Mattel Inc. now has a higher market value than General Motors. Matchbox and Hot Wheels cars may now be worth more than the full size versions.

[CC Rider]

It's a very bad time for US automakers. FWIW, the business section of our local paper says GM and Chrysler are on the verge of bankruptcy. Kind of scary.

[firstgenaddict]

I read analysts expect GM to burn through 18-24 billion yes that's billion with a B in the next 18 months... And only have 9-10 Bil cash on hand... so it's either pledging assets as collateral or some creative financing... Bet they are glad to have unloaded their majority stake in GMAC, as they are getting NAILED in the mortgage mess!

[DarrenX33]

Is all that Chinese lead worth that much?

[wheelhop]

So my diecasts are now worth more than my car?

[427TJ]

They'll probably take GM into bankruptcy, restructure the company (dump all its employee obligations on the federal government a-la the airlines) and move it to China (posibly Mexico but there's no Communist government to opress the workers and brutally stifle any labor unrest in Mexico). China: no EPA, no OSHA, no unions, no laws of any kind: the new Wild West. Who knows, maybe Chinese Chevys will be good cars? Cheap too! You'll probably be able to buy them at Wal-Mart!

Okay, okay, I'll stop now.

[Kim_Howie]

pLEASE cONTINUE!!

[nuch_ss396]

I know this will probably bother some members here that are union
workers, but enough already! Someday someone will write
an accurate narrative about the auto worker unions and just
how much financial damage they have inflicted on the car
companies - all in the name of the good of the workers.

Where's the sense? Pretty damn soon these union workers
will be looking for new jobs and it is quite doubtful that
they will find employment for anywhere near the same pay
rate and level of benefits. Where's the union then?

I'm developing a large scale manufacturing process
in a union shop and the BS is non-stop and ultimately
crippling to our progress. It has to be the same for
the automakers. This is not a reflection on anyone
that happens to be in a union, just the way the unions have
crippled manufacturing companies. If GM sinks, God help the
rest of us

I don't know what to say anymore. Everyone wants to buy
foreign cars because the quality and resale value is better.
I can't blame them...... But where do we go from
here? How does GM climb out of this hole? How do we??

Nuch

[TDW]

It isn't just the Unions. The Management is horrible too. My wife just retired from GM with 31 years on the trades. I could tell you true stories that would make you sick. The skilled trades are a joke. I can tell you about workers getting paid 7 days, 12 hours for doing nothing but sleeping. Management and the highest in- plant Union reps knew it. I personally called and spoke to the Assistant Plant Manager, the head of Human Resources and the Lead Engineer of the plant. I told them where they were sleeping, who they were, who their supervisors were, and asked ALL of them to do something. Not a one of them did. This went on for 2 years. I have waited until my wife got out of there to say anything, due to the repercussions she would of gotten. There are skilled trade people that punch in, leave and come back to punch out everyday. The minorities get away with more so, because the supervisors are afraid of the race card that is played all the time. I could write a book about the stuff that goes on in the factories. I have said for years shut them all down and start over.

[firstgenaddict]

The papermakers union strike at a paper mill in Western NC caused the mill owner to close the mill and file bankruptcy... The avg wage at the mill (in a very rural mountain town) was $28 per hr. The mill is gone and now what do you think the avg wage around there is? 10-15 an hour? Less than what the owner was asking for... 15-20 per hour. But now the union can say... look we put them in chpt 7.. we will do it to you too!