It seems the unions lacked foresight as well, doesn't it? Did they really expect that the market could support such extravagant compensation?
And I believe you underestimate the impact of the Big 3 being "de-unionized" Here is a link from Forbes. As you can see, the Big 3 are compensating their workers to a tune of $50,000 to $60,000 per year more than their foreign counterparts. $55,000 multiplied by 100,000 workers comes to.....hmm...$5,500,000,000. I think that big number is 5 1/2 billion. Per annum, every annum.
Like the man once said, "A billion here and a billion there, and pretty soon that's real money".
How can you assert that 5 1/2 billion dollars per year in additional production costs is inconsequential?
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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