CloroxCowboy

Credit Default Swaps May Be Playing a Supporting Role in Chrysler Bankruptcy Filings

...? That was my point. Working on an assembly line is a WORKING class occupation. $100K/year does not fit the job being done.


On May 01 08:59 AM Liz wrote:

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> I'd hardly call $100K/year "working class".

Credit Default Swaps May Be Playing a Supporting Role in Chrysler Bankruptcy Filings

I'd have to agree that disregarding senior debt is dangerous at best. IMHO, it is absolutely the union that should suffer in this deal. UAW auto workers are over-paid for their skillset, plain and simple. That is a huge part of what's driven Chrysler, Ford, GM into the dirt. Of course the vehicle designs are lacking, but when exactly did it become status-quo for a working-class job to equate to a middle-class lifestyle? It's just not a sustainable business model.