GM's Pension Plans -- putting people out of work

Fuck, why did I get so many credit cards!?!!
Originally uploaded by Phalanx.

GM cut 30,000 jobs today - 30 muthafucking thousand!!! jesus christ on the cross, is that even thinkable for one company to beat the economy's ass like that? That's like an entire township just getting the axe, 'cause the blowhards in Detroit can't make attractive, cost-effective cars.

I knew GM was fucking itself with a 12-inch dildo when I read this book called HIGH AND MIGHTY, a polemic and cautionary book about the travesties that dominate the roadways - SUVs. In the book, the author claimed that GM looses money on each and every car they manufacture; its profits come from SUV sales.

So I said to myself today, why the fuck is GM even in the car manufacturing business, they can't fucking make a car that anyone in their right mind would buy, and even if they do design dope-as-fuck ones, they drain money out of the company.

Sure, GM has got boatloads of cash sitting around, billions and billions. But it's all being drained away in bloated pension funds and shitass cars. The pension funds can't and shouldn't be slashed, the problem is that actual ability of the company to compete.

Truth be told GM is a microeconomic example of America in general, it's past its prime and is having dramatically difficult times battling the Japanese on the economic warzone.

The media isn't covering it for some reason (it's a forgone conclusion), but Japan has won the auto wars. Chrysler only works because they German designers retooling its output (which used to be the shittiest, remember the Chrysler K Car? What the fuck was that? Why was that introduced at a time when the Big 3 needed to be handing Japan's Big 3 their collective asses?), to the detriment of the Mercedes brand, but so what? Luxury cars will always be around, and the Benz always signifiies quality. GM hasn't had a reputation that is unsulliable in decades.

Hence it's rapid decline. I knew I should have bought Put Options on the company about 3 months ago. I'd have a fortune right now, as the stock has hit a 14-year low, it's bonds beneath junk status (shitstain, bootlicker status is what I call it).

And the people who worked for the company are going to be reeling. Just imagine when the company goes belly-up and all the people who worked there over the past 50 years, aren't going to get their medical benefits or the pension checks. Just when all those people are getting old as dirt, and want to retire or are forced the fuck out of the workplace to make way for those ignorant fuckers that make up Generation Y.

Okay, enough vitriol for one day.