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Old 06-23-2005, 03:14 AM
zonk's Avatar
Home Built Rods No Rules
 

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Another Buyout Offer Bad to Worse

Sorry I guess I have to some how vent alittle. Another offer for Maytag buyout, Chinese applaince maker Haier group joined with buyout firms Bain Capital and Blackstone group to bid $1.28 billion. Again subject to approval. If this one is approved my job will almost certain be history. And they will be looking hard at any brand name associated with Maytag shipping it overseas.
I guess pretty much accept what ever happens can't do much anything about.
Just a question anybody else that has been in the same position, how did you handle it ?

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Old 06-23-2005, 04:47 AM
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Is early retirement an option for you ? That sure sux,when FedEx bought American Freightways,I was a little nervous.We were not quite sure what it meant for us.Of course we got the same dog and pony show any company gets after meger."All policies and procedures will stay the same,all management will stay the same",and so forth.Yeah,right,but at least we are still working and growing strong. In your field,it will probably be different,are they just buying the name,or is there a chance you will stay put? Good luck,I hope the best for you.
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Old 06-23-2005, 07:35 AM
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Ancient Chinese saying:

"Tis better to be the buyer than the buyee."

My Rant: I was with GTE when they merged with Atlantic Bell to become Verizon. Our department went to work for an Bell VP, whose philosophy was, "If it was good enough for my great-grandfather, it's good enough for me." The environment turned from fairly friendly to hostile, and procedures made no sense. When they offered a retirement package, they got four times the number of people than they expected...including me! Greatest choice I ever made.
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Old 06-23-2005, 09:35 AM
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Hey RC I'm going to to be one those many American workers end up with nothing for retirement. Both factories I've been at so many dollars per month per year of service. Until last year was offered 401k supposed to have a buyout option to go to a 401k haven't seen it yet.
No early retirement only 17 years in, just turned 48. I joke with the wife the hell with retirement live our life the best we can now, when we get old living on the street we rob a bank at 80 years old or so, free room and board. LOL
I know deep down inside we'll be ok, just wears on you.
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Old 06-23-2005, 11:50 PM
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Quote:
Originally Posted by zonk
Hey RC I'm going to to be one those many American workers end up with nothing for retirement. Both factories I've been at so many dollars per month per year of service. Until last year was offered 401k supposed to have a buyout option to go to a 401k haven't seen it yet.
No early retirement only 17 years in, just turned 48. I joke with the wife the hell with retirement live our life the best we can now, when we get old living on the street we rob a bank at 80 years old or so, free room and board. LOL
I know deep down inside we'll be ok, just wears on you.
that's sad, you deserve better than that.

we should start boycotting foregin products, to hell with hell*mart and their chinese everything!
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Old 06-23-2005, 11:51 PM
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Nuke China!
and hang the greedy politicains and owners by their balls!
time for a revolt I tell ya!
or we all wont be working.
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Old 06-24-2005, 08:13 AM
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I quit....

US Steel locked their doors in 1986 and I quit in 1987 and in 1989 they were bought out and the pensions were frozen...mine is safe for now. Carnegie pensions holds the key to having a pension and not here in my town...


Tazz


Rat Rods Rule!
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Old 06-24-2005, 10:12 AM
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Nuke China?? HELLLLL YEA! YEEEEEEEEEEEEEEEEEEEEEEEHAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAW! start by boycotting wal-mart
Frisco lost or is losing his job at Square-D cause they moved everything to meh-hee-co.
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Old 06-24-2005, 02:55 PM
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Different point of veiws obviously.

Last edited by Cruiseomatic; 06-25-2005 at 12:35 PM.
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Old 06-24-2005, 03:20 PM
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learn some history boy.

I hope to die before retirement. screw getting old.
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Old 06-24-2005, 03:27 PM
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Well,did we not bomb them in WW2 when they came to Pearl Harbor?
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Old 06-24-2005, 04:08 PM
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[QUOTE=Cruiseomatic]Well,did we not bomb them in WW2 when they came to Pearl Harbor?[/QUOTE]
More or less yes, what does that have to do with today.?The issue is the manufacturing jobs that are leaving the U.S. for Mexico and China. Some of these jobs had been good paying, some were not. In a lot of rural areas these manufacturing jobs were all that existed, it took mom and dad working for the family to have a decent life, by no means getting rich.
I have a brother-in-law that has a white collar job who thinks these jobs pay too much, "they have no skills". I have told him to watch out in about ten years as the kids coming out of collage will be taking his job, they will work for less putting him in the unemployment line.
It is time for this government to be by the people, for the people. Not by corporate America for corporate America.

For anyone wondering about my response, Cruiseomatic had made a reference to the Japanese but those comments have since been edited

Last edited by 1ownerT; 06-28-2005 at 03:51 PM.
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Old 06-24-2005, 06:12 PM
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i hope all goes well for you. i hate to say it, but their is no such thing as job security anymore. the days of making an honest living at the mill where your father, and his father both worked, are becoming a distant memory.

jobs are leaving this country at an alarming rate. outsourcing, restructuring, mergers & acquisitions, and corporate accounting scandals are all to blame for screwing the american worker. no matter how secure one may feel in his/her profession, it would be wise to think about a "what if" scenario.

here's an interesting email i received from a friend and thought it would be appropriate to post here:

Joe Smith started the day early having set his alarm clock (MADE IN
JAPAN) for 6am. While his coffeepot (MADE IN CHINA) was perking, he shaved
with his electric razor (MADE IN HONG KONG). He put on a dress shirt (MADE
IN SRI LANKA), designer jeans (MADE IN SINGAPORE) and tennis shoes (MADE
IN KOREA ). After cooking his breakfast in his new electric skillet (MADE
IN INDIA) he sat! down with his calculator (MADE IN MEXICO) to see how
much he could spend today. After setting his watch (MADE IN TAIWAN) to the
radio (MADE IN INDIA) he got in his car (MADE IN GERMANY) and continued his
search for a good paying AMERICAN JOB. At the end of yet another
discouraging and fruitless day, Joe decided to relax for a while. He put on
his sandals (MADE IN BRAZIL) poured himself a glass of wine (MADE IN
FRANCE) and turned on his TV (MADE IN INDONESIA), and then wondered
why he can't find a good paying job in.....AMERICA....
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Old 06-25-2005, 05:30 AM
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Cruiseomatic - Obviously you didn't even read the thread before you wrote and obviously you live a very shallow life. You don't have a clue.

Global marketing is key word now adays. The norm is undefinable at times.

Zonk, hope things work out.

Young ones, start looking at saving in Roth IRAs, emergency funds. Learn what you need to in the library, on line and become interested in your futures.

Some of us didn't learn early enough.
Dutch
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Old 06-25-2005, 03:20 PM
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The big thing now is "Packaged in the U.S.A.", foreign made goods packaged here at home. It's insulting to me to know that they think I'm stupid enough to not know the difference.

I'm ready to camp on the border and not be as nice as the minutemen. If you saw a few hundred dead people on a trail would you keep going?

Larry
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