Quote:
Originally Posted by Craven Morehead
I assume the validity of this is legit, someone has put a hell of a lot work into it. The blog does have link to all the underlying data.
If this is even close to be correct, then its really beyond hope, without major restructuring. Let GM and the others go tits up. The shockwaves will be horrendous. The shareholders will lose so will their creditors and union contracts would be renegotiated. Everyone loses, for a while. However, if it stays the same, throwing a ton of cash at them just to keep the afloat is not fixing anything. And they'll end up right back in the same place it is now.
Both labor and managment are crying that because the banks are getting bailed out, the auto industry should as well. There's a difference. A huge one. The days of easy credit are over. Bankers are never going that route again. Can the Big Three also make the same claims that they are reformed? |
I don't understand why the average tax payer should be bailing out folks that make a shit load more money then they do.
Several years ago, I'm guessing 12, I met a guy standing in a pool in Hawaii. Nice guy, I remember him well. He had a stutter and he and his wife had just bought their fourth week at the time share I was staying in. I asked him what he did and he told me he worked for (insert some big 3 auto co. here because I can't remember which one) as fender guy. In talking with him over several drinks he told me he work "the floor" installing new fender on trucks. He said with overtime each year he had no problem bringing in 225K+ a year. I asked if he was management and he said "God, no those guys make real money." At the time I made 1/2 that but worked two jobs to do it. Not long ago I read a story where one of the major car makers bought out some workers. In that story several were going to use their buy out money to take a few years off and attend Ivy league schools to "retrain for another career."
I have no problem with people who make good money, more power to them. But if they're simply being paid good money by companies that lose money then turn to the tax payers to prop them up... This whole thing smells bad to me. Why do more of my tax dollars have to go to keep people in jobs making money for companies that lose money?
Look at the chart Mr. Craven posted. How come Toyota can make a better car for less? Do the people working at Toyota get paid like Wal-Mart greeters? I'm guessing not. Chances are most, maybe not all but most, people on here would be more then happy with the average Toyota factory salary.
If the US economy keeps tanking many of us may be more then happy with that Wal-Mart greeter pay.