What Can You Do With One Semester of Spanish?
You can sing the "One Semester of Spanish Love Song.
Friday, March 21, 2008
Wednesday, March 19, 2008
From the "I don't want to go on the cart" file:
Ford Workers Saying No to Buyouts
What if you threw an early retirement party, and nobody came? That's the question being asked at Ford right now. The company just completed a force reduction buyout program, and apparently the results were below expectations. Whereas the 2006 buyout plan yielded 33,000 takers, the 2008 plan has so far netted fewer than 9,000 participants. This despite payouts of up to $140,000 per worker.
It seems that anyone who thought they had a future outside the company has already jumped ship. Many of the workers that Ford would like to see leave are handcuffed by a poor housing market. Property values in Greater Detroit have plunged amid record foreclosures. Many workers are upside down on their homes, and if they left, they would have to pay their lenders a big chunk of any lump sum they received from Ford.
Primary Source: Bloomberg News
Ford Workers Saying No to Buyouts
What if you threw an early retirement party, and nobody came? That's the question being asked at Ford right now. The company just completed a force reduction buyout program, and apparently the results were below expectations. Whereas the 2006 buyout plan yielded 33,000 takers, the 2008 plan has so far netted fewer than 9,000 participants. This despite payouts of up to $140,000 per worker.
It seems that anyone who thought they had a future outside the company has already jumped ship. Many of the workers that Ford would like to see leave are handcuffed by a poor housing market. Property values in Greater Detroit have plunged amid record foreclosures. Many workers are upside down on their homes, and if they left, they would have to pay their lenders a big chunk of any lump sum they received from Ford.
Primary Source: Bloomberg News
To Arms! To Arms! The Supreme Court Says it's OK
The Supreme Court heard oral arguments yesterday in District of Columbia vs. Heller, and it looks like they are bound to rule that the Second Amendment right to bear arms gives us the individual right to own guns. It's hard to say what the brave new world of gun ownership has in store for us, but here's the first sign: Guns for Lego toys. A company called Brickarms,www.brickarms.com, provides a comprehensive assortment of well-armed characters for your play world, but if you already have the figures, Brickarms can provide the guns.
Thanks to futuremusic.com for the initial info.
Monday, March 17, 2008
American Idol "Woulda'Been" #1
Ann Wilson
I don't know about you, but I'm somewhat disappointed with this year's finalists for American Idol, especially the women. I was thinking about what singers from previous eras would have made good American Idol contestants. The first one is Ann Wilson of Heart. I had the pleasure to hear her sing live on more than one occasion. Here's a link to a video from Midnight Special in 1976, just when Heart was catching on nationally. Nobody does Crazy on you like Ann.
(By the way, when I think about "woulda beens", I have to exclude Whitney, Mariah, Celine, and Elvis. Given how badly today's contestants fair when they taken on songs by these one-name singers, the originals get instant "woulda-been status.)
Ann Wilson
I don't know about you, but I'm somewhat disappointed with this year's finalists for American Idol, especially the women. I was thinking about what singers from previous eras would have made good American Idol contestants. The first one is Ann Wilson of Heart. I had the pleasure to hear her sing live on more than one occasion. Here's a link to a video from Midnight Special in 1976, just when Heart was catching on nationally. Nobody does Crazy on you like Ann.
(By the way, when I think about "woulda beens", I have to exclude Whitney, Mariah, Celine, and Elvis. Given how badly today's contestants fair when they taken on songs by these one-name singers, the originals get instant "woulda-been status.)
Friday, March 07, 2008
20 GM Plants Slowed or Idled by American Axle Strike
As of today, 20 General Motors plants will either be slowed or idled due to the strike at American Axle. The strike of 3,600 American Axle workers is now significantly affecting GM plants with 27,258 workers, a third of GM's workforce. Resolution of this strike is proving to be difficult because American Axle is reportedly asking its employees to cut their pay in half from $28.15 per hour to $14.50. This despite the fact that American Axle is profitable, at least it was in the financial period before this particular strike. American Axle is apparently offering buyouts from $80,000 to $110,000.
There appears to be a big difference between the way American Axle is going about its negotiation and the way the Big 2.8 did. The buyout packages were negotiated with the union in the case of the Big 2.8. American Axle seems to be taking a "take it or leave it" approach.
Some commentators are criticizing the UAW for allowing a small supplier to shut down large customers. These commentators fail to realize that contract negotiations are undertaken at the local or company level. If I were an American Axle employee, no way would I let them cut my wages in half without striking. These workers don't even have UAW Legal Services benefits to buffer them from their creditors.
For an interesting perspective on the American Axle strike and American Axle's history of outsourcing jobs to Mexico & beyond, check out Joe's Union Review blog.
Primary Source: Detroit Free Press
As of today, 20 General Motors plants will either be slowed or idled due to the strike at American Axle. The strike of 3,600 American Axle workers is now significantly affecting GM plants with 27,258 workers, a third of GM's workforce. Resolution of this strike is proving to be difficult because American Axle is reportedly asking its employees to cut their pay in half from $28.15 per hour to $14.50. This despite the fact that American Axle is profitable, at least it was in the financial period before this particular strike. American Axle is apparently offering buyouts from $80,000 to $110,000.
There appears to be a big difference between the way American Axle is going about its negotiation and the way the Big 2.8 did. The buyout packages were negotiated with the union in the case of the Big 2.8. American Axle seems to be taking a "take it or leave it" approach.
Some commentators are criticizing the UAW for allowing a small supplier to shut down large customers. These commentators fail to realize that contract negotiations are undertaken at the local or company level. If I were an American Axle employee, no way would I let them cut my wages in half without striking. These workers don't even have UAW Legal Services benefits to buffer them from their creditors.
For an interesting perspective on the American Axle strike and American Axle's history of outsourcing jobs to Mexico & beyond, check out Joe's Union Review blog.
Primary Source: Detroit Free Press
Thursday, March 06, 2008
From the "There's $2 billion you'll never see again" File
GM to Loan Delphi $2 Billion
In previous posts about Delphi, I wondered where the cash was going to come from to cover for the operational losses that Delphi was posting while under Chapter 11 bankruptcy protection. Not too surprisingly, General Motors appears to be a big part of the answer.
According to the Detroit News, GM is proposing to loan Delphi an additional $2 billion to allow Delphi to emerge from chapter 11. In the original Delphi plan, Delphi was supposed to pay General Motors, but now GM is proposing to send a couple more billion dollars in cash to Delphi, and to end up with an equity stake in Delphi as well as IOUs. The catch: the other investors in the Delphi bankruptcy financing are objecting to the terms of the deal as being too favorable to GM. Of course, those investors aren't rushing to invest their own good money in new deck chairs for the Delphi-Titanic.
The Detnews also states that Delphi has failed to contribute $2 billion in pension fund obligations accrued since 2005. Waivers of these payments won't necessarily be coming from the appropriate government authorities.
The current deadline to have a deal done is April 4, but deadlines have come and gone in the Delphi case before. I would be surprised if this doesn't go beyond April 4 with no resolution.
GM to Loan Delphi $2 Billion
In previous posts about Delphi, I wondered where the cash was going to come from to cover for the operational losses that Delphi was posting while under Chapter 11 bankruptcy protection. Not too surprisingly, General Motors appears to be a big part of the answer.
According to the Detroit News, GM is proposing to loan Delphi an additional $2 billion to allow Delphi to emerge from chapter 11. In the original Delphi plan, Delphi was supposed to pay General Motors, but now GM is proposing to send a couple more billion dollars in cash to Delphi, and to end up with an equity stake in Delphi as well as IOUs. The catch: the other investors in the Delphi bankruptcy financing are objecting to the terms of the deal as being too favorable to GM. Of course, those investors aren't rushing to invest their own good money in new deck chairs for the Delphi-Titanic.
The Detnews also states that Delphi has failed to contribute $2 billion in pension fund obligations accrued since 2005. Waivers of these payments won't necessarily be coming from the appropriate government authorities.
The current deadline to have a deal done is April 4, but deadlines have come and gone in the Delphi case before. I would be surprised if this doesn't go beyond April 4 with no resolution.
Wednesday, March 05, 2008
Clone wars: Cats vs. Bananas
What are cats good for? Cats are our secret weapon in the war against the killer clones. If you are a highly educated person, you may realize that almost all the bananas we eat are clones. What people don't realize is that these clones aren't harmless plants. Oh, no, they are killers, just waiting for the time to strike. Fortunately Kitty ain't havin' it.
What are cats good for? Cats are our secret weapon in the war against the killer clones. If you are a highly educated person, you may realize that almost all the bananas we eat are clones. What people don't realize is that these clones aren't harmless plants. Oh, no, they are killers, just waiting for the time to strike. Fortunately Kitty ain't havin' it.
American Axle Strike Effects multiply
It's not exactly the butterfly effect, but a strike at American Axle, hardly the largest auto supplier, has already idled six General Motors plants, and now supplier plants are starting to shut down as well. According to Automotive News, Lear Corp. has already laid off 1,000 workers and slowed down work in 7 plants. Magna International has also slowed its production. Autonews reports that lost production by GM is currently at 3,667 vehicles per day from six closed plants, but if the strike is not resolved, lost production could reach 16,884 cars per day by this coming Saturday.
It's not exactly the butterfly effect, but a strike at American Axle, hardly the largest auto supplier, has already idled six General Motors plants, and now supplier plants are starting to shut down as well. According to Automotive News, Lear Corp. has already laid off 1,000 workers and slowed down work in 7 plants. Magna International has also slowed its production. Autonews reports that lost production by GM is currently at 3,667 vehicles per day from six closed plants, but if the strike is not resolved, lost production could reach 16,884 cars per day by this coming Saturday.
Monday, March 03, 2008
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