Congress wants concessions from the auto industry before providing any bridge loans. Being discussed are auto industry executive compensation package concessions, UAW executives and administration concessions, UAW (Union) wage, pension and health care concessions, retooling to yield green vehicles (would these be GEM Flex?) among others.
If the automakers were to fail or go into bankruptcy the auto executives and UAW executives would lose the incomes they have, they should they protect their jobs by protecting the rank and file, those that yield the products and profits.
What income and compensation concessions should the company executives have to agree to, to protect the companies they lead?
What concessions in compensation should the UAW executives and administration have to agree to?
How much of the burden should the workers bear?
Shouldn’t the rank and file that makes the products that produces the profit be protected from the deep cuts while the executives and administrative personnel (those that don’t yield anything) tighten their budgets?
Your last paragraph ***** and that’s B.S. This is B.S. The Union contracts are the problem.
I reckon we should not bail them out. They can declare bankruptcy and renegotiate the contracts.
The government has no constitutional right to steal my money and give it to any corporation.
Granted that the UAW has made the most concessions, but that is only because the other workers had no scale and they had all of the benefits and pay slashed already. Now it is time for the UAW to step up. NO ONE should be paid for hours they do not work. NO ONE should be getting the “benefits” the UAW workers are getting for the amount of work they do.
BANKRUPTCY!!!!!! It is the BEST solution!!!!
You last paragraph shows how ignorant you truly are.
to answer your question…HUGE! From the UAW bolt and ***** picker to the CEO.
FORBES MAGAZINE:
Labor cost per hour, wages and benefits for hourly workers, 2006.
Ford: $70.51 ($141,020 per year)
GM: $73.26 ($146,520 per year)
Chrysler: $75.86 ($151,720 per year)
Toyota, Honda, Nissan (in U.S.): $48.00 ($96,000 per year)
but its too late to save, its time to Eliminate and Rebuild.