Seems to me that it is the mayor that isn't getting it. The "anger" towards "wall street" is definately being misplaced. The major issue with the Automakers is that the Government is forcing them to make cars the public does not want and that their expenses are too high to sustain the business they do have. Look at the GM books, their largest cost is the employee. That is most likely the largest cost of any business. The healthcare costs are just amazing. Benefits are just that EXTRA BENEFITS of working someplace.
We need to look at why they are , or were, called FRINGE BENEFITS. Prior to World War II no employer paid any employee more than their agreed upon wages. I don't even know if there was such a thing as vacation. During the war the government FROZE wages in industries to keep the expense down for war materials. so in order to intice employees to work for them rather than the competition, employers started offering "fringe benefits". it has gotten completely out of hand to where it is now considered an employee's RIGHT to have healthcare paid by the company. Why not car insurance? or the mortgage, or tuition to private schools? where does it stop? This mayor is out of touch with reality.
Just look at Michigan! Every action the state government has taken has hurt the state and not helped in any way. When do they start to look at the failure of raising taxes and increased government spending? Everyone uses the phrase that we must all sacrifice during this time of trouble. Really? I don't see the government sacrificing. Government is not cutting back...unless it is to threaten the citizens to get them to allow another tax increase.
There is anger growing in the Mid-West alright but it is against people like the mayor and other big government can solve all problems worshipers.
What will solve the economy is the people of this country...if the government would just get out of the way and allow it to correct and flurish.
Look at the GM books, their largest cost is the employee. That is most likely the largest cost of any business. The healthcare costs are just amazing. Benefits are just that EXTRA BENEFITS of working someplace.
Labor accounts for 8-10% of the cost of a car. (this includes benefits and legacy costs)
I think his point was that the banks (wall street) got a $700b bailout with no questions asked. The automakers ask for help, and everyone wants the workers to take a paycut almost as a condition of getting bailout money.
This man is an ass. The UAW elected him - let the UAW continue to support him and make his mortgage payment and insurance premiums. That is, until the money runs out.
When was this aired?
Just curious... and thanks!
Seems to me that it is the mayor that isn't getting it. The "anger" towards "wall street" is definately being misplaced. The major issue with the Automakers is that the Government is forcing them to make cars the public does not want and that their expenses are too high to sustain the business they do have. Look at the GM books, their largest cost is the employee. That is most likely the largest cost of any business. The healthcare costs are just amazing. Benefits are just that EXTRA BENEFITS of working someplace.
We need to look at why they are , or were, called FRINGE BENEFITS. Prior to World War II no employer paid any employee more than their agreed upon wages. I don't even know if there was such a thing as vacation. During the war the government FROZE wages in industries to keep the expense down for war materials. so in order to intice employees to work for them rather than the competition, employers started offering "fringe benefits". it has gotten completely out of hand to where it is now considered an employee's RIGHT to have healthcare paid by the company. Why not car insurance? or the mortgage, or tuition to private schools? where does it stop? This mayor is out of touch with reality.
Just look at Michigan! Every action the state government has taken has hurt the state and not helped in any way. When do they start to look at the failure of raising taxes and increased government spending? Everyone uses the phrase that we must all sacrifice during this time of trouble. Really? I don't see the government sacrificing. Government is not cutting back...unless it is to threaten the citizens to get them to allow another tax increase.
There is anger growing in the Mid-West alright but it is against people like the mayor and other big government can solve all problems worshipers.
What will solve the economy is the people of this country...if the government would just get out of the way and allow it to correct and flurish.
Look at the GM books, their largest cost is the employee. That is most likely the largest cost of any business. The healthcare costs are just amazing. Benefits are just that EXTRA BENEFITS of working someplace.
Labor accounts for 8-10% of the cost of a car. (this includes benefits and legacy costs)
Pink Slip
hear any anger. Just someone who is stuck in a time that passed 15 years ago. He could at least use new arguments and answer some of the questions.
I think his point was that the banks (wall street) got a $700b bailout with no questions asked. The automakers ask for help, and everyone wants the workers to take a paycut almost as a condition of getting bailout money.
This man is an ass. The UAW elected him - let the UAW continue to support him and make his mortgage payment and insurance premiums. That is, until the money runs out.
Mad Jack
Mad Jack's Shack