Permacritical

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

The $73 cost per hour stated cost is benefits included, etc., but still a very real number and why we can't compete. Let them die. This is not a new problem it has been going on for decades. Americans were never great at buidling great cars, we just made alot of cars first and cheaper for a long period of time. Was it realistic to think that GM was going to keep its 60% market share back in the 60s, much of their perceived decline is related to the consumers wanting more choices. For the last 10 years or so the auto companies made more money off their financing arms rather than their stinking cars, like this was going to last forever too! How hard could that be in the midst of a credit bubble, everybody made money off free credit or leverage money. You would have to be stupid not to, but naively short sighted to roll it into your business plan. It some point American car makers were going to have to make cars at profit or die. The rest of the world caught up to us while our labor unions made the rest of the country feel like their people who tightened nuts and bolts were entitled to a huge paychecks, benefits, and a sweet pensions. It is comical that they are still so stupid as to ask for a bailout for their retired employees ahead of survivabilty of the company. They are staying true to their mobster roots. The Feds are such political whores and liars (Dems & Reps) they'll still give it to them. Without true change in these people, and we haven't seen any in decades, they will die with or without a bailout, hopefully without one so that they die a quicker and more efficient death. They are most deserving of everything they get.