What you should be wondering #15 Annie is if My Official Lap Dance tour is coming to a city near you?

IM Ria’tch Bia’tch!

I stand to get a little over 94 grand, split in 3rds it will be used well. Mutual fund, home, and enough to tour a couple of continents.
Not to mention the other incentive of 2 years school paid. Enough to get my masters program started.

#13 I will see your 3 series and raise you a nice used Landcruiser.

Time spent in hell hole 11 years
Blood,sweat and tears undetermined
GM footing the bill for me to go get another life…
…PRICELESS!

Everyone else can get the finger.

Workers that get the $70,000 severance, will receive after federal/state/social security/disability taxes approximately $30,000-$45,000. Also factor in most of these people it will take about 6 months to find a comparable job with comparable benefits. They might be able to find a hourly job, but good luck finding the cushy health care benefits that GM use to offer. The average GM worker between 30-40 would mostly likely sorta out of shape and in not so good health and be rated as a “standard” when it comes to insurance’s rating of “selected preferred”, “preferred”, “standard” rating. So tag on expenses for health insurance. Then there’s the folks that will get the $140k compensation. Well, that puts them into a high tax bracket for that year. So figure $70k +- after taxes. Then you figure that these people are mostly older (must have worked 10+ years), so are probably in poorer health.–> considerably more health care costs.

Then tag on expenses that the average person spends on walmart, factor in the credit card payments they folks need to make, rent, etc. They’ll be lucky to be able to buy a low end 3 series or A3 or C230….

And then you figure if they are able to purchase an Audi/Mer/BMW, the cost of maintanence. Last time I checked, Audi and Mer were dropping the free maintanence program. So go figure $100-$200 minimum for a service visit. All 3 brands also require premium fuel. So figure $3/gallon and approximately $100-$150/month on fuel alone. And that’s with a conservative mpg which is highly unlikely if you actually were to drive the Audi/Mer/BMW in such a way that isn’t like “you’re father’s oldsmobile”.

And that would require them to clean out most of their severance to do this, which would demonstrate extreme stupidity wrto financial management, since it will probably also take some time for these folks to find another job. But then again, several americans demonstrate financial stupidity on a regular basis. So anything is possible. And there is always the lease option. .Afterall, this is america. Buy now, and make minimum payments. Even if you have no money, you still have to look and act it…Why live poor when we can live in debt????

j i m

Hmmm…hard choice.

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“Workers with 10 or more years are eligible for $140,000 to sever ties to the bankrupt company. Workers with fewer than 10 years are eligible for $70,000. And those hired under a supplemental new hire agreement before March 22 can take a $40,000 buyout.”

Someone needs to stand up to the Unions…they are no longer needed with all the 2-bit lawyers running around looking to sue employers who misbehave.!