Clifford

Why AIG Gets Billions While GM Gets Scorn

Please give me an example of a company that any reader of this website would work for that does not give excellent benefits. I have worked for several large companies and the benefits are excellent for average employees. I work in technology by the way and have a pension, full benefits, 401k, decent pay. You are basically saying that an auto worker makes something more than an average professional, that is simply not being honest. At least the auto workers provide a useful service which cannot be said for the vast majority of major financial institutions. The financial sector's business model has been predicated upon a consumer savings rate that over 30 years went from over 10% to -1. That is being reversed as we speak which means that these large financial companies are dead in the water for the current cycle, decades to come.


On Dec 13 01:43 AM AlexS wrote:

> Part of the GM contracts was that GM would provide health care benefits
> for life. Even as the rest of us get pushed into Medicare at 65,
> GM continues with gold plated coverage (free, I believe). So bear
> that in mind. Part of the GM bailout would go to paying for retirees
> to get health care benefits that you can only dream of.