hoover

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

I would assume that about $45 of that is real wages and the rest benefits. Also, I believe new contracts that cover new hires are in the $20 to $25 per hour range. Auto workers obviously make too much. But, I would rather concentrate my rage on grossly overpaid executives, AND I would rather concentrate on banking and financial executives than auto executives. Auto companies at least make a useful and necessary product. What do banks produce? Paper with numbers on it, paper shuffling people, colossal debts, misery, and a system of compensation that would make the Mafia feel guilty. Why do companies need to borrow so much from banks anyway. What ever happened to companies that used their internally generated funds to support their operations? They have all gotten hooked on the banker's debt drug. Fix the problem by NOT bailing them out -- let them fail and feel good about it. I used to work for a large corporation that produced a useful product and had a slogan, "PAY FOR PERFORMANCE," for managers. Lousy performance and you're gone. If applied to bankers they would all be on the unemployment line where they belong.