To me this is just going to delay the day of reckoning. What they are going to give them still won't make them whole. If you consider their outstanding debt and Pension liabilities this may make the company only say - 35 Billion in the hole instead of -60 Billion. Consider the Market Cap of GM and Ford was 6.14 Billion on 11/17/2008. In the end this is just good money after bad. They are not going to help change the wage structure that puts them at a disadvantage to Honda and Toyota or change people's buying habits. In the end the only way the will keep the current GM Structure of workers making $75 an hour if you include their benefits is to nationalize the companies.
You make a good point. I don't know what ones. I do know that in an Add one of Toyota's trucks or maybe all of them are made here I think in Ind. but not sure. I think what these companies don't understand is that they are part of the Global Economy and so is the labor force. What I mean is that is that conditions are different in Japan and Germany then here so that has an effect on how cars are made. I have heard that the ironic things is that in I think it is China the #1 Selling car is ford.
The ironic part about what you said Peter is that those companies do build cars people want to buy right here on U.S. Soil. Yea, the plants are in those "Red" States like Alabama, South Carolina and Texas which are for the majority Non-Union.
The thing is that a college education says a lot about a person, more then High School does. it isn't true for everyone but it shows certain things. First thing that comes to mind is that if you live on campus or not with your parents that you are responsible enough to go to class on your own and pay rent, and that means you will show up at work. It also shows a certain level of being able to learn stuff and retain information. With four years schools it shows you are dedicated. If I did hiring I could tell a bunch of other things that it can tell. It is often a help in getting a job.
The Auto insudstry is in trouble because both the workers and the big wig ass holes who fly on Private Jets are both greedy. The bottom line is that that other countries and companies can make cars cheeper and better, so Americans buy them. The thing about the Japanase is that they aren't good at inventing things, we made "The Bomb" first (then blew them up) an American Made the VCR but couldn't figure out what to do with it. The Japanese are good at making things better and changing them. Hence why they make better cars then we do and most of the Hybrid stuff is their's. If An American Car company figured out how to Make a cheeper, Clear fuel and made their cars run on it then they wouldn't be in bad shape. We shall go with say Pure Alcohol. Ford would grow all the Wheat in a 40 story building then own farm land. You own a ford you go to any place that sells ford Cars and Fill up then they sell that at a profit to say gas stations or what ever. The problem is that when you are Rich you don't think "out side the box" so there is no inovation when you are lined up with the gas companies and so is the government.
I have heard this argument before and I have to wonder why we always blame the workers? As if the overall business model of the company was flawless and would succeed were it not for those parasite workers. Yes, the union should accept that the industry is such that it can no longer support workers wage and benefits entirely. But that is not what is driving the company into the ground.
And Jenks, a college education is entirely useless for most jobs. It is sad that secretaries now need an associates degree. It is sad that seas of douche bags are in MBA programs just so they can do a job that requires only basic communications skills.
Speaking of douche bags. Did you hear about CEO's of the crumbling auto industry flying to DC to beg for bailout money... in a private jet. :::link:::
$75/hr is nice. Such arrogance.
jesus. maybe it's time for people with no more than a high school education to accept that maybe they can't make $75/hour anymore.
I am really not very sympathetic to this cause at all.