My Representative voted against this turkey of a plan in the House. He also voted against the bank bailout.
The new UAW motto:
FULL PAY, UNTIL THE LAST DAY.
Interesting how the Senate has been and is now controlled by the Democrats but, somehow, this is the fault of the GOP.
“Dems refused to lower UAW wages to Nissan, Toyota, Honda pay levels”
That’s really not quite accurate.
The whole difference in labor costs between the Japanese and the Big 3 are pension and medical costs for retired workers. And if the Big 3 go bankrupt, the Federal government will get stuck for most of those pension and medical costs.
This is a tough problem to solve.
Why should we have to pay to bail out the UAW union?
They largely created most of this mess.
See ya in Bankruptcy court, UAW.
Scabs are US.
Management presumably offered reduced wages; and...
The UAW fungi are holding out for (ultimately) ... zero dollars per hour.
i recently bought a honda, so screw the unions.
Weil Gotshal & Manges LP - get to work!
I’m not sure if the Big Three were bluffing to get what they thought would be a better deal from Bush and this lame duck Congress (by claiming the burn rate was going to sink them before January 20th), but I’ll take the risk. And they can prove they were not bluffing.
I generally would be loathe to cite Thomas Friedman of the NYT - but he did a good job of characterizing this attempted bailout as analogous to investing heavily in typewriter manufacturers just before the PC revolution... There are forces of change in the auto industry and the broader economy and Detroit has been tone deaf to them for 40 years. What is it about an infusion of Federal taxpayer funds that makes people think it (by that fact) will change?
I think Corker has been doing a good job of focusing the issue - but I cringe when I hear him say that the Big Three and the UAW have to agree on hourly age costs equal to those of the transplants. It’s not the job of Congress to negotiate such things - and if the bailout begins on these terms how long will it be before we see legislation specifying the absolute minutiae of auto company operations? And we all know what likelihood of success that will have.
Hooray!
Looks like auto workers will all be home for the Holidays.
Permanently.
But those talks fell apart after Republicans insisted that wages reach parity in 2009.
Can someone explain to me what the "reach parity" means? Does this mean the Republicans were pushing for wage parity as early as 2009 and the Dems opposed it?
The stock market should go for a roller coaster ride tomorrow. Hang on.
“A frantic, last-ditch attempt to forge an relief package for the auto industry collapsed in the U.S. Senate, dealing a giant blow to hopes of the Big Three.”
Why does the media keep saying this when Ford stated they were opting out of the bailout? Lets face it. This is a bailout for GM and a deal to make it easier for somebody to buy Chrysler.
Doesn’t the federal gov’t support the big three buy only buying American cars for their work fleets? I know on the city and county levels, all I ever see are American made gov’t cars.
I would support lowering UAW pay levels if corporate executive conpensation were also lowered.