Sunday, January 22, 2012

Even with a bailout, can the Big-3 survive without major cuts in UAW wages and benefits?

I do not think they can survive without major wage and benefit reductions for union workers. Even if you cut all of the executives to zero, there is not enough unless you cut the union wages are cut drastically. They cannot compete by paying union workers more than they pay at Toyota or Honda. Out country cannot compete as long as we pay high school dropouts more than college graduates.

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