Syl

Cramer's Mad Money: Verizon's Ivan the Terrific (11/7/08)

Some years ago when unions were demanding and getting higher and higher wages and, auto companies in particular, were wiling to go along because the average buyer of auutos was willing to pay higher and higher prices for less than top quality products, I predicted Toyota, Volkswagen, and Nissan were getting ready to take their lost business, no one wanted to listen. Now has it ever occured to politicians to ask the workers to take a token reduction in their high salaries in a move to save their jobs? Yes, the greedy CEO's should also take a cut. This would do more good than all the tax-payer bailouts would ever do. Let's take a look at the pay of production line workers for example who are being paid very high salaries to do work that requires little or no skill. A trained monkey could do some of those jobs that are now paying hourly wages of $20 or more an hour.