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[QUOTE]Originally posted by R1Man: [QB] [QUOTE]Originally posted by amanick: [qb] id play it safe and make certain that you have a stop loss in. I do see potential here in the long run for this stock once we understand more of what the bancruptcy will do to shareholders. till then its just a play for me. [/qb][/QUOTE]Good advice!! Ok....lets check the OVERPAID stuff. Let me bring up one of my checks....since I am a UAW hourly DaimlerChrysler employee....well base this on my last check. Facts: I make $26.08 per hour COLA is $1.49 per hour (COST OF LIVING ASSISTANCE) = Hours worked 52 = $1,433.64 Excess hours 6 = $165.42 AWS is 1.25 hour (Alternative work schedule)= $36.19 Shift preminum 5% = $79.95 401k defered pay 10% = $171.52 Federal Taxable = $1,543.68 Federal tax = $217.72 Social Security = $131.32 Michigan Tax = $60.20 Total taxes is $409.24 Life insurance = $4.14 Take home = $1,134.44 Now the company has to pay what I pay in SS...so I make $26.08 + 5% shift preminum = $27.38 + COLA = $28.74. Based on 40 hours I would make $1,149.60. I would pay 8% SS = $91.97....so Chrysler matches that....so the total is $1,149.60 + $91.97 = $1,333.54. Ok....divide that by 40 hours.....$1,333.54/40 = $33.34 per hour. Now health care....Average plan usually costs a person $4,700....lets round up and add $1,000.....so H-C = $6,000. $33.34 * 2080 hours (52 weeks x 40 hours) = $69,347.20 + $6,000 = $75,347.20. Now divide that by 2080 hours = $36.22 per hour. $36.22 per hour is far cheaper than what the big 3, visteon, and delphi all claim don't you think??? Delphi claims they pay people $69.00 per hour to mow the lawn....JOKE!!! The reason we get higher wages than others is because the UAW over the past have nogotiated jobs, speeding up the lines, higher volume, robotics, etc. You can pay some guy in a small shop $12.00 per hour....but that press only runs soo fast.....at GM, Ford, Crysler....that guy that would run the press....the press runs far faster than the small shop....he has to multiple of tasks, etc. Small shops don't build cars/SUVs/trucks....we do.....we build the transmissions/engines.....nobody else. That is why we get paid what we do....each employee is specialized in their job(s). Don't get caught up in the HYPE of the UAW workers get paid too much....we have very dangerous jobs, donate to the community, boost the economy, etc. As for any of us making more than $40.00....YEAH RIGHT...maybe those big fat cat CEO's should take a cut.....they drive companies into the ground and give themselves huge bonuses. Bill Ford Jr....he just announced that he won't take a pay raise this year.....maybe the other crooks will give us a break also.....sure......???? But go read the old news on Delphi....you'll read about how the Execs get FAT BONUSES.....why??? Did the employees make the decision to ruin the company....no....the execs did that....they should be the ones to pay.....not the people who dedicate their lives to a company only to lose their job, retirement, pension, etc. Speaking of PENSIONS....we get $50.00 per month for each year of service incase your wondering.....maybe that is where they get the $69.00....WHAT A LIE!!! (this isn't to upset anyone or sound like I'm bragging, just stating facts). [/QB][/QUOTE]
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