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  • Living Within Our Means: Automotive Edition [View article]
    paulK - you can't fix a problem caused by decades of dead wrong reckoning. The American auto makers excel at things that no longer matter - bigger, fancier, thirstier - and a culture of total warfare between management and labor.

    GM, Chrysler and Ford could ALL survive,, perhaps even thrive, if management took a voluntary 2/3 pay cut and labor took a 50% pay cut. They won't. They'd rather not work.

    Make no mistake, the Big 3's problem is salaries and wages at an unsustainable level. They can be counted on to sustain the pay levels at the expense of their future employment. And all those benefit packages that retirees used to think would last forever won't.

    They got a reprieve from Alan "Bubbles" Greenspin's credit tsunami. Now, unless they radically change the pay levels, they're looking at the end of one of the most lucrative chapters of economic history.

    But look on the bright side - museums will have cars with 40 Gig hard drives. That get 16 mpg.
    Oct 29 17:09 pm |Rating: 0 0
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