Surprise: Early Show Economist Blames 'Selfish' UAW

NewsBusters ^ | Mark Finkelstein

[governsleastgovernsbest]

Let's hope we haven't seen the last of Peter Morici on CBS. The University of Maryland professor of business and economics, appearing on the Early Show this morning, put the blame for the failure of Big Three bailout squarely on the shoulders of the UAW for its refusal to accept pay cuts putting its members on par with non-union workers at US plants owned by foreign car manufacturers. The Early Show did manage to balance things with some Dem demagoguery from the mayor of a Michigan city.

Morici singled out UAW president Ron Gettelfinger, calling him "unrealistic" and "selfish." Comic relief was later provided by Virg Bernero, mayor of Lansing, Michigan, who seemed to confuse South Carolina with South Korea.

View video here.

[governsleastgovernsbest]

[governsleastgovernsbest]

Flying union pig alert to Today show list.

[traderrob6]

He’s right...

http://exposingtheleft.blogspot.com/2008/11/big-three-woes.html

[Red_Devil 232]

On F&F this morning one of the Fox Business Gals was ask who is to blame and she responded without hesitation “the UAW”.

[Ann Archy]

The TRUTH???? Someone from acedemia spoke the TRUTH???? OMG!

[Sig Sauer P220]

The auto makers have to have to ability to cut unprofitable lines of cars/trucks, whatever. If the union contract doesn’t allow it, the executives hands are tied.

[fortunate sun]

I am willing to donate one, plug nickel to the UAW “Widow’s and Orphan’s” Fund if John Sweeney makes an appearance on any news program with an apple stuck in his pie hole.

[kickonly88]

He can expect a friendly ‘visit’ from some UAW operatives in the near future.

[UCFRoadWarrior]

Interesting is that this economist Mordici is not your usual Free Trade stooge or stoolie...actually is pro-American in his economics...and is laying blame on the UAW.

You figure to hear it from the usual “I hate America” Free Trade stooges...but not from Mordici....pretty telling

[FrankR]

Memo to UAW:

You can't get blood from a turnip, and you can't get $75 per hour from a bankrupted company.

Sincerely.

[wayoverontheright]

I am glad to see this, but it all must be taken a step further to get people to realize that the laws governing the relationship between union and management are the ultimate culprits. A company that has its union go out on strike must have the ability to hire those who ARE willing to work for what they want to pay.

Only when we are ALL threatened do we finger the real perpetrator. And only when a company is brought completely to its knees does the union make concessions. I'm betting the union will cave, because their choice is to hand their pay over to a bankruptcy court judge, and as we can see, the prevailing sentiment is not with the unions any more.

[70th Division]

They do not make $75.00 an hour. OH PLEASE! They make about 60K a year plus benifits.

[FrankR]

"They do not make $75.00 an hour. OH PLEASE! They make about 60K a year plus benifits. "

Well, I didn't mean to blow your skirt up!

You have to look at "landed cost" (that's the benefits and all employER expenses); then you figure in the re-tooling time when they are not at work but still get full paychecks...and it would come out to about that, I'm sure.

What a sweetheart deal.

But, if it makes you stop using you all caps key, then we'll say $35-$40 per hour. I know a lot of people who would like to be making that kind of money. And the people I know would appreciate it.

Unions breed employee mediocrity and eventual corporate failure...it's the liberal greed factor...it's microcosm socialism and socialism never works long-term.

[stan_sipple]

The good professor better park his car in his garage

[stan_sipple]

whats the total after you add in fica, unemployment, health, worker comp, pension, health ...etc etc etc?

[freespirited]

The University of Maryland professor of business and economics, appearing on the Early Show this morning, put the blame for the failure of Big Three bailout squarely on the shoulders of the UAW for its refusal to accept pay cuts putting its members on par with non-union workers at US plants owned by foreign car manufacturers

I dont doubt he is right but surely stupid government regulation has some role too.

[Ditto]

I dont doubt he is right but surely stupid government regulation has some role too.

The foreign car makers in the US face the same stupid regulations, but they can make a healthy profit.

[cameraeye]

If the uaw paid the republicans like they paid the demoncrats than it would have passed with flying colors. They should have taken care of BOTH sides of the aisle!

[Ditto]

They do not make $75.00 an hour. OH PLEASE! They make about 60K a year plus benifits.

When you add up all the costs including things like full retiree health care, the jobs bank and other costs for people no longer employed by the big three, labor cost works out to $75 per hour.

It is the legacy costs that are killing them.

[MrB]

The difference between a profitable auto manufacturer and a bankrupt one is the UAW.