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Economic News: GM to Layoff 1/4 of Workforce, Minimum Wage Increase Shot Down By Republcians

Posted in H.L. News, Main Blog (All Posts) on June 26th, 2006 9:45 am by HL

MSNBC
GM to shed quarter of workforce this year

Excerpt General Motors will on Monday disclose details of one of most dramatic corporate downsizings in US history, exceeding a key target of its turnround plan and accelerating the demise of the privileged American car worker. Rick Wagoner, chief executive, is expected to announce that about 30,000 workers more than a quarter of GM’s blue-collar US workforce have taken up its offer of early retirement and severance packages.

Local News Leader
GOP-run Senate kills minimum wage increase .

Excerpt: WASHINGTON – The Republican-controlled Senate smothered a proposed election-year increase in the minimum wage Wednesday, rejecting Democratic claims that it was past time to boost the $5.15 hourly pay floor that has been in effect for nearly a decade. The Senate vote marked the ninth time since 1997 that Democrats there have proposed and Republicans have blocked a stand-alone increase in the minimum wage. The debate fell along predictable lines. Kennedy also said lawmakers‘ annual pay has risen by roughly $30,000 since the last increase in the minimum wage.

4 Responses to “Economic News: GM to Layoff 1/4 of Workforce, Minimum Wage Increase Shot Down By Republcians”

  1. LA Says:

    Way to go Corporate America and the Congress! Keep wages low, lay people off, and then send their jobs overseas. This is a formula for disaster.

    Once again, Congress is spineless and so corrupt to the point that it is irrelevant. I think that they should all be tarred and feathered and publicly displayed.

    LA

  2. Buck Says:

    Where is the stoping point? If nothing but libs ran the government I can see it now ..Good god! What the hell Lets raise the wage to 6.00. How bout 6.50?? …7.00 maybe?? What the hell 7.50 . Or no lets go for 8.00……since thats up for argument lets double the wage 16.00 bucks an hour. Well go**am lets go for the magic 20 mark. Hell why not 21.50 perhour. im sure democracy would be prospering to no end so lets go for 30.00per hour. Lets just pull a south africa and shut everything down. What has happend to life, liberty and the pursuit of happiness?? It has become the pursuit of your fellow citizens life, liberty and happiness thats what!! Socialnomics is an idiot born virus!!! Buck out!!!

  3. LMZ90028 Says:

    Buck, your disrespect of your fellow Americans never ceases to amaze me. I would imagine that your life is bettered because of services provided by people who work for minimum wage. They get a few bucks an hour to get mistreated and disrespected by people like you. What do you think they deserve for their work…pennies? Should they get paid just by the satisfaction of knowing they have made your life easier? Minimum wage laws are necessary because without them, corporations would try to turn America into a giant sweatshop.

    Your slippery slope argument is nonsensical. No one is suggesting a $30/hour minimum wage. But people who work full time should be able to live on their salaries. It saves us in the long run anyhow. Pay people enough so they can buy their own food and pay their medical bills, then society doesn’t foot the bill for their needs. Because I KNOW you are against welfare!!

  4. cap Says:

    Buck, Why do you want a sizable proportion of the workforce to be unable to rent an apartment by themselves? Unable to pay $300/mo for health care leaves people in physical pain. Why do you want to will people into this type of life? What will happen to the minimum wage folks in their old age? you cant save for any emergency on this salary. Why do you wish pain on your fellow man? Why are you so selfish?