Realistically, the government needs to void the UAW's contract, and impose a 15% pay cut across the board for labor, and a 30% across the board pay cut for management. All unproductive employees should be eliminated, with a standard "years worked severance pay". Then disband the BoD's and appoint a new public BoD.
mark is wrong as usual; the UAW has already agreed to end the "jobs bank" program. --- http://www.autoblog.com/2008/12/22/autoline-on-autoblog-with-john-mcelroy/ Thousands of dealers are going to have to close. Top management is going to take a pay cuts. The CEOs will earn only a dollar a year until the government money is paid back. Executive vice president's will see their cash compensation cut 50%, and see their salaries cut by roughly 30% on top of that. UAW workers also get up to 52 weeks of supplementary unemployment benefits. This pays them on top of any unemployment money they get from the state if they are laid off. And the Big Three pay those SUB benefits. Look for the SUB benefits to get axed. UAW workers get bonuses throughout the life of the contract ranging from $2000-$3000 per year. In total they will get an additional $13,000 over the life of the contract. Retirees and their spouses also get bonuses totaling an average of $2300. It seems unlikely they'll continue getting those bonuses when taxpayers are footing the bill. By the end of the contract UAW workers involved in General assembly will earn $28.85 an hour. Skilled workers will earn $33.56 an hour. While there is a provision to hire new workers starting at $14 an hour that only applies to non-core workers. Look for all wages to be chopped down to what the transplants pay. It truly is tragic to see honest, hard-working employees and stakeholders have to give up so much of their livelihood. But that's what happens when you turn to taxpayers to foot the bill. --- Now, lets talk about Wall Streets $700 billion dollar bailout and the concessions they're making. Oh I forgot, they don't have to make any! --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
