Great Lakes 4x4. The largest offroad forum in the Midwest - View Single Post - What will Detroits bankruptcy do to SE MI?
View Single Post
Old December 5th, 2013, 10:28 AM   #24
Senior Member
mschaffer66's Avatar
Join Date: 11-05-05
Location: West Bloomfield, MI
Posts: 9,604
iTrader: (17)
Mentioned: 11 Post(s)

Originally Posted by amc78cj7 View Post
Unfortunately the average Joe's pension will probably be cut, but that is not the core issue that contributed to this disaster. It was the crooks who were in city office jobs collecting crazy pensions for little work that should be penalized.
I wonder how many of those losing their pensions have helped vote in these crooks decade after decade after decade...

Originally Posted by whiterhino View Post
Although I feel bad for those who worked hard for their pensions, I feel they are partially to blame. Demanding huge union contracts for years and years that are unsustainable is part of the problem.

Years ago when our company was struggling, all the employees took a 10% pay cut. This year our profits were off and I took a huge hit on my year end bonus. But for a union worker, when that happens, they scream "foul" and strike to get more. Look at all the large companies that have filed bankruptcy for this same reason. Why would a large city be any different.

Sometimes, what goes around.... comes around.
As much as I hate the union and the mentality it spawns you can't fault the union or its workers for everything. There have been people pretty high up the management ladder getting hefty pay outs even when times were not good at most of those unionized companies.

Times were ridiculously good for a long time and the companies could piss away money on salary, bonuses, new equipment, etc... and give no cares. Then the well dried up and they want to cut Mr. Union's pay, but Mr. Union still sees Joe CEO getting his multi-million dollar bonuses. I can understand why Mr. Union would get a little upset. I think its human nature to always want more, and also be jealous and resentful of those getting more than you.

Originally Posted by whiterhino View Post
I just heard Kevin Orr (sp?) on the radio. He said the debt is $18 billion and they only have $1 billion. He was explaining that hey, we can cut a third of it out and we still only have 1/12 th of what we owe. He said there had never been any money set aside for the $5.7 billion they owe for health obligations. He said I have no idea why, but there was never money saved for anything.

Bottom line they are broke and there is no sugar coating it.
Given the nature of the people in this country and the neglect you see driving around in Detroit this honestly doesn't surprise me. I think it should, but it doesn't. Our country has a debt level it will never pay back, social programs are funded with money from tax payers that haven't even been born yet, and most Americans are barely living pay check to pay check with no savings and endless debt.

mschaffer66 is offline   Reply With Quote
Page generated in 0.17317 seconds with 22 queries