Tuesday, December 16, 2008
The UAW is to Blame for Failed Bailout
Senator Coburn of Oklahoma blames the UAW for the failure of the auto bailout. The UAW would not commit to defining when they would have a competitive wage, thereby renegotiating their contracts with the Big 3. What the unions fail to realize that if the Big 3 go under, there will be no wages. The UAW has taken advantage of the car companies with the terms of their contracts, that the Big 3 did go along with, which have brought all of them to the place they are today. Look at this post from Carpe Diem to see the differences in pay and profitability between GM and Toyota. 2007 Profit/Loss GM vs. Toyota: Same # Cars . It's an eye opener. I say fuck both of them. Now is the time is for some creative destruction.
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