Lazaris

GM Reverse Split Creates Problems for Dow Jones

I am so sick and tired of these pundits saying that GM needs to get there costs in line with those of the transplants! GM has been building vehicles for over 100 years! The transplants have only been here in the US for about 20 years. They have No Retirees. You are comparing apples to oranges. You cannot compare a company with thousands of retirees with one that has few retirees. The wages for GM and Toyota have been ON PAR for many years. Toyota needed to pay their employees a "competitive wage" to keep the union out. New GM employees will now be making $14.00 per hour. Toyota will cut the wages of their workers to match those of GM. It is a race to the bottom. It was GM-Ford and the Unions that created the "middle class" in this Country, and the middle class will dissapear along with the wages.