GM is gettin its butt kicked
VX Hatch with 431,500!
Joined: Sep 2005
Posts: 560
Likes: 0
From: Missouri
Originally Posted by brtecson
http://www.businessinsurance.com/cgi...pl?newsId=6710
It was ratified already. ^^There's a more recent article. I haven't heard anything about a $1b cushion either.
As for auto workers being overpaid, that start looong before the UAW came in. Henry Ford was paying people $5/8hrs when the average worker was making less than half of that. GM and Chrysler raised their wages as well, and the autoworkers have been paid very well since then.
It was ratified already. ^^There's a more recent article. I haven't heard anything about a $1b cushion either.
As for auto workers being overpaid, that start looong before the UAW came in. Henry Ford was paying people $5/8hrs when the average worker was making less than half of that. GM and Chrysler raised their wages as well, and the autoworkers have been paid very well since then.
pukimonster
Joined: Jun 2002
Posts: 9,967
Likes: 2
From: Milwaukee, WI
Originally Posted by Highmile
Ol' Henry was making money hand over fist when he was paying twice the going rate. He made it so his employees could afford to buy the cars they were building and that helped fuel the sales. These days, the employees feel entitled to everything, including being able to afford the Esclades that they build. The open market should decide wages and since they aren't allowed that freedom, they must waste tons of money to close plants that they could maybe keep open if it weren't for the greedy unions. In the Model T days, Henry lowered the price of the T just about every year as the economy of scale allowed. Henry made more and more money as he lowered prices. Ford lost the number one auto maker spot when Henry was reluctant to change with the times and update his cars. Chevrolet offered more colors and modern suspensions and brakes and took the sales. It's the Unions reluctance to change that's going to be their demise.