GM seeks up to $30B in aid, to cut 47,000 jobs

[fromnj]

it is a very interesting fact indeed….

http://bigthreeauto.procon.org/viewadditionalresource.asp?resourceID=2050#commentary

“Labor cost per hour, wages and benefits for hourly workers, 2006.

Ford: $70.51 ($141,020 per year)

GM: $73.26 ($146,520 per year)

Chrysler: $75.86 ($151,720 per year)

Toyota, Honda, Nissan (in U.S.): $48.00 ($96,000 per year)

According to AAUP [American Association of University Professors] and IES [Institute of Education Sciences], the average annual compensation for a college professor in 2006 was $92,973 (average salary nationally of $73,207 + 27% benefits).

Bottom Line: The average UAW worker with a high school degree earns 57.6% more compensation than the average university professor with a Ph.D. (see graph above, click to enlarge), and 52.6% more than the average worker at Toyota, Honda or Nissan.”

July 11, 2007 – Mark J. Perry, MBA, PhD

David Leonhardt, “Economic Scene” Columnist for the New York Times, in a New York Times Dec. 9, 2008 article titled “$73 an Hour: Adding It Up,” wrote:

“The calculations show, accurately enough, that for every hour a unionized worker puts in, one of the Big Three really does spend about $73 on compensation. So the number isn’t made up. But it is the combination of three very different categories.

The first category is simply cash payments, which is what many people imagine when they hear the word ‘compensation.’ It includes wages, overtime and vacation pay, and comes to about $40 an hour. (The numbers vary a bit by company and year. That’s why $73 is sometimes $70 or $77.)

The second category is fringe benefits, like health insurance and pensions. These benefits have real value, even if they don’t show up on a weekly paycheck. At the Big Three, the benefits amount to $15 an hour or so.

Add the two together, and you get the true hourly compensation of Detroit’s unionized work force: roughly $55 an hour. It’s a little more than twice as much as the typical American worker makes, benefits included. The more relevant comparison, though, is probably to Honda;s or Toyota’s (nonunionized) workers. They make in the neighborhood of $45 an hour, and most of the gap stems from their less generous benefits.

The third category is the cost of benefits for retirees. These are essentially fixed costs that have no relation to how many vehicles the companies make. But they are a real cost, so the companies add them into the mix — dividing those costs by the total hours of the current work force, to get a figure of $15 or so — and end up at roughly $70 an hour.”

[an]

Which one is more American, a Japanese car that’s built and designed in USA or an American Car that’s built in Mexico?

[Arraya]

The UAW argument is a red herring. If they paid those guys half what they make they would still be in the red. They along with everybody else that has a bloated pension will be losing it. You anti-union guys need not worry. They won’t get it and neither will many. Wall street will take care of that little problem. What everybody needs to worry about is what they are going to do with millions upon millions of unemployed with no prospects for jobs that just lost their pension and a state that can’t pay unemployment benefits.

[an]

Which one is more American, a Japanese car that’s built and designed in USA or an American Car that’s built in Mexico?

[Arraya]

The UAW argument is a red herring. If they paid those guys half what they make they would still be in the red. They along with everybody else that has a bloated pension will be losing it. You anti-union guys need not worry. They won’t get it and neither will many. Wall street will take care of that little problem. What everybody needs to worry about is what they are going to do with millions upon millions of unemployed with no prospects for jobs that just lost their pension and a state that can’t pay unemployment benefits.

[an]

Which one is more American, a Japanese car that’s built and designed in USA or an American Car that’s built in Mexico?

[Arraya]

The UAW argument is a red herring. If they paid those guys half what they make they would still be in the red. They along with everybody else that has a bloated pension will be losing it. You anti-union guys need not worry. They won’t get it and neither will many. Wall street will take care of that little problem. What everybody needs to worry about is what they are going to do with millions upon millions of unemployed with no prospects for jobs that just lost their pension and a state that can’t pay unemployment benefits.

[an]

Which one is more American, a Japanese car that’s built and designed in USA or an American Car that’s built in Mexico?

[Arraya]

The UAW argument is a red herring. If they paid those guys half what they make they would still be in the red. They along with everybody else that has a bloated pension will be losing it. You anti-union guys need not worry. They won’t get it and neither will many. Wall street will take care of that little problem. What everybody needs to worry about is what they are going to do with millions upon millions of unemployed with no prospects for jobs that just lost their pension and a state that can’t pay unemployment benefits.

[an]

Which one is more American, a Japanese car that’s built and designed in USA or an American Car that’s built in Mexico?

[Arraya]

The UAW argument is a red herring. If they paid those guys half what they make they would still be in the red. They along with everybody else that has a bloated pension will be losing it. You anti-union guys need not worry. They won’t get it and neither will many. Wall street will take care of that little problem. What everybody needs to worry about is what they are going to do with millions upon millions of unemployed with no prospects for jobs that just lost their pension and a state that can’t pay unemployment benefits.

[socrattt]

Hey Piggs, Scarlet is a dead horse we keep beating that keeps uttering the same jargon. Leave it alone. Let this post die as she has nothing of value to speak of. Everything we say or post is obviously not factual to her.

Scarlet, my last words for you is to open your eyes. You are one of the few people who believe saving these companies is a good thing. We have a lot more to worry about than a bunch of pensions. We have millions of citizens without jobs or pensions. If you choose to work with a company that chooses to run a business behind a broken business model than you shouldn’t have a pension. I don’t even want to waste my time writing to you because you have very little substance. I refuse to reply again to any of your ridiculous replies.

[socrattt]

Hey Piggs, Scarlet is a dead horse we keep beating that keeps uttering the same jargon. Leave it alone. Let this post die as she has nothing of value to speak of. Everything we say or post is obviously not factual to her.

Scarlet, my last words for you is to open your eyes. You are one of the few people who believe saving these companies is a good thing. We have a lot more to worry about than a bunch of pensions. We have millions of citizens without jobs or pensions. If you choose to work with a company that chooses to run a business behind a broken business model than you shouldn’t have a pension. I don’t even want to waste my time writing to you because you have very little substance. I refuse to reply again to any of your ridiculous replies.

[socrattt]

Hey Piggs, Scarlet is a dead horse we keep beating that keeps uttering the same jargon. Leave it alone. Let this post die as she has nothing of value to speak of. Everything we say or post is obviously not factual to her.

Scarlet, my last words for you is to open your eyes. You are one of the few people who believe saving these companies is a good thing. We have a lot more to worry about than a bunch of pensions. We have millions of citizens without jobs or pensions. If you choose to work with a company that chooses to run a business behind a broken business model than you shouldn’t have a pension. I don’t even want to waste my time writing to you because you have very little substance. I refuse to reply again to any of your ridiculous replies.

[socrattt]

Hey Piggs, Scarlet is a dead horse we keep beating that keeps uttering the same jargon. Leave it alone. Let this post die as she has nothing of value to speak of. Everything we say or post is obviously not factual to her.

Scarlet, my last words for you is to open your eyes. You are one of the few people who believe saving these companies is a good thing. We have a lot more to worry about than a bunch of pensions. We have millions of citizens without jobs or pensions. If you choose to work with a company that chooses to run a business behind a broken business model than you shouldn’t have a pension. I don’t even want to waste my time writing to you because you have very little substance. I refuse to reply again to any of your ridiculous replies.

[Author]

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