Hello Larry,
what has become part of the narrative of the WHY american car
companies can't compete is their "legacy" costs. the costs
associated with wages and health benefits paid to retired UAW
members. pegged now at somewhere around $1700.00 per auto. how
can they compete with that kind of a cost structure while the
foreign makers have a younger work force without that kind of
overhead?... and the media has bought into this narrative
without questioning-------------that those wages and benefits
were negotiated in the "good times" and the automakers, instead
of putting aside the profits AT THE TIME for the future costs,
in the form of trusts or annuities, SPENT the money in the form
of compensation for ITS EXECUTIVES, bonuses, stock options,
etc. now that the times are "bad", and they don't HAVE the
money they should have put aside, they CRY.. .. we can't
compete on cost...... ..... .. .. WAHHHHHH!..... take a look at
what the management people make. Bill Ford, before he took
himself out of the CEO spot had cut his package down to merely
$1,000,000.00 a year until he could make the company
profitable. he stayed that way for about 3 years, then
abdicated. but that was a cut from the 5 to 10 million a year
he took BEFORE that time... .. .. ... . again.. WAAAHHHHH!!!!
--
Best regards,
Bill mailto:pythias@pacifier.com
"66 Sprite
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