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Forum » GM buys back 1/4 of its stock after saying they couldn't afford to pay workers more
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Thread: GM buys back 1/4 of its stock after saying they couldn't afford to pay workers more

post 1694099693 11-29-2023, 09:05 AM
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GM buys back 1/4 of its stock after saying they couldn't afford to pay workers more

LMFAO! Moggers continue to mog
6'2"

OMAD results: 2/15/19-235, 10/13/19-190

OHP-205 Bench- 245 Squat - 405 C&J - 245

2021 Spring cut: 195lbs starting weight
post 1694099943 11-29-2023, 09:08 AM
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It’s almost like publicly traded companies are beholden to stockholders and not workers.
post 1694100283 11-29-2023, 09:14 AM
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Originally Posted By Duckliver⏩
It’s almost like publicly traded companies are beholden to stockholders and not workers.
Exactly. The workers should just start their own car company if they don't like it.
6'2"

OMAD results: 2/15/19-235, 10/13/19-190

OHP-205 Bench- 245 Squat - 405 C&J - 245

2021 Spring cut: 195lbs starting weight
post 1694100813 11-29-2023, 09:22 AM
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So does a stock buyback settle things with a union, or did they buy that stock from the employees who wanted higher wages?
post 1694100923 11-29-2023, 09:24 AM
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Attention plebs: Neveraskfor a raise... what you should be doing is increasing your value to the corporation so that they'llOFFERa merit increase to retain you.

And if they don't offer you a respectable increase then move to another company.
Everything I post is satire.
Tricknology Grand Master.
post 1694101093 11-29-2023, 09:28 AM
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Originally Posted By DolphinPilot⏩
So does a stock buyback settle things with a union, or did they buy that stock from the employees who wanted higher wages?
It's buying from their shareholders

Vanguard
Blackrock
Arrowstreet capital
Putnam investments
Greenhaven
post 1694101303 11-29-2023, 09:32 AM
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Originally Posted By kengriffeyjr24⏩
It's buying from their shareholders

Vanguard
Blackrock
Arrowstreet capital
Putnam investments
Greenhaven
Only the ones that decided to sell. Stock buy backs are just a more market efficient form of Dividend.

However, I have to say this large of a buy back is strange to me. I would have expected them to use their cash on hand to better position for the next 10 years. Like does GM really think their car tech doesn't need the investment upgrades. They don't have Toyota's bullet proof reputation to lean on.
post 1694101333 11-29-2023, 09:32 AM
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How shocking
post 1694101433 11-29-2023, 09:33 AM
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They want $100/hr to bolt wheels on Cadillacs.
post 1694101473 11-29-2023, 09:34 AM
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Originally Posted By NESBrah⏩
How shocking
how insightful
post 1694101623 11-29-2023, 09:37 AM
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Originally Posted By Austanian⏩
Only the ones that decided to sell. Stock buy backs are just a more market efficient form of Dividend.

However, I have to say this large of a buy back is strange to me. I would have expected them to use their cash on hand to better position for the next 10 years. Like does GM really think their car tech doesn't need the investment upgrades. They don't have Toyota's bullet proof reputation to lean on.
The company is in debt up to their eyeballs, are going downhill and the decision makers want to increase the value of their assets since they own a lot of the stock. It's really not that complicated. They'll dump while the prices are high and worst case scenario the company goes insolvent and the government steps in with taxpayer money to bail them out. It's literally impossible to lose so why not just do whatever you want?
6'2"

OMAD results: 2/15/19-235, 10/13/19-190

OHP-205 Bench- 245 Squat - 405 C&J - 245

2021 Spring cut: 195lbs starting weight
post 1694101703 11-29-2023, 09:39 AM
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Fortune 500s only care and operate to the quarterly bonus
Coincel
Florida crew (lol at coldcels)
post 1694102333 11-29-2023, 09:55 AM
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Companies have fiduciary obligations to their investors, they are legally required to always look out for shareholder’s bottom lines.

People acting like these companies were gonna head into union negotiations saying they don’t care because they can absorb the increased labour costs, that’s not how this works. They take a stance by portraying things as dire as they possibly could be, because that’s the position you should take when heading to the table to push back looking out for investor’s best interests.

I think the only people who bought their angle were those who so badly want them to fail that their judgment is clouded
post 1694103883 11-29-2023, 10:23 AM
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We should give them another 0bama bailout.
post 1694104113 11-29-2023, 10:27 AM
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Originally Posted By N0stradamus⏩
Attention plebs: Neveraskfor a raise... what you should be doing is increasing your value to the corporation so that they'llOFFERa merit increase to retain you.

And if they don't offer you a respectable increase then move to another company.
Yeah doesn’t work like that in a union. I work with a few lazy fuks that will use union excuses to get out of doing any work.
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post 1694110483 11-29-2023, 12:23 PM
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Originally Posted By Doober4⏩
Yeah doesn’t work like that in a union. I work with a few lazy fuks that will use union excuses to get out of doing any work.
The guys I know who are tradies seem to love being in the union while the factory guys I know who are in one hate it. I've never been a tradie or in a union so I don't know the difference other than what I've heard in passing
6'2"

OMAD results: 2/15/19-235, 10/13/19-190

OHP-205 Bench- 245 Squat - 405 C&J - 245

2021 Spring cut: 195lbs starting weight
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