Compared to Europe, Canada and Australia, the minimum wage in the US is a pittance. A kid working in McDonalds in Australia or Britain makes far more per hour than the US minimum wage.
CONSUMER REPORTS magazine, April 2008. Experts in product testing, accepts no advertising, totally independant, nonprofit, purchases vehicles same as consumers and collects data on autos from owners through questionaires. There, now I did YOUR homework. I told you it was easy. CONSUMER REPORTS is even available online, where you are now sitting.
The reason why we bailed out Detroit because we would've been in danger of losing an additional 1M jobs had we not. And made a horrible Economy even worse. Its really that simple.
The $75 an hour costs that is bandied about, includes the legacy costs of the every employee that ever worked there. Because they underfunded their healthcare and pension plans back when they were profitable and pocketed the difference, part of the cost of every car and truck GM, Chrysler and Ford made during that time has turned into a liability.
Awesome video - shows how ridiculous the U.S. auto industry is. To be fair though, the execs that got these companies in this mess don't deserve their paychecks either though. I'm not an expert but it seems to me the best option would be to let these poorly run businesses go out of business.
The large auto companies are saddled with huge legacy costs because back when they were profitable, they underfunded their health care plans and their pension plans. Had these been properly funded, the legacy costs would be zero. Had they overfunded them, there would be no problem at all. What they did instead, is underfund these schemes and pocket the difference, leaving a huge mess and causing cost cutting which has reduced the desirability of American cars.
How much of the $75 per hour is health care cost, which is borne by the taxpayers in other countries, and, due to the efficiency of single-payer, is about half of what health care costs are here in the USA? I am guessing that it is close to the $25 difference in hourly cost argued in this video.
The unemployment rate is different (sometimes better sometimes worse) but the number of employed people who live in poverty is greatly reduced where there is a minimum wage in force. A strict minimum wage gives more money to the working poor, and THESE people are the ones that are more likely to put it straight back into the economy by spending it instead of saving, because they do not have the luxury of saving. As a percentage of income, expenses are higher. It is called the multiplier effect.
I didn't see in the constitution where it describes how government cab act as a business and a loan officer. Wow. Subsidies does not equal free market. I do not want to buy a huge gas guzzling car; I'd rather buy a small car like everyone has in Europe. What happened to free economic choice?
I did not specify a test. All through the issue there are graphs and tables. Every one shows that Japanese cars are far superior than U.S. models. I don't know why you are grinding an axe. I have no agenda here, just telling what is going on in car manufacturing. Buy what you want. Its your money.
you're missing the point. Let's say you have 100 executives whose total compensation packages equal 1,350,000 a year. High, but let's run with it. That covers a total of 10 employees each. So their salaries cover 1,000 UAW workers. The UAW represents 73,000 workers in GM alone, having the ability to bring wages down to say $50 an hour or $104,000 a year, would save the company 2.3 billion dollars. We could cut 1,000 executives making that 1.35 million to zero and not have the same impact.
I like how you use the word approx. What your statement really shows is the mindset that has lead to America being the richest country with the worst minimum wage. So for you to compare their pay check with other poorly paid American workers is actually showing how you justify low wages. The real problem here is unsustainable business models and the first step in costs should be executives salaries. They earn alot and produce a little.
So the reason American car companies are unprofitable is because the people who actually make the products are paid to highly??? It seems that maybe the answer it that those companies are top heavy and a few less overpaid executives could help the companies maintain profitability without affecting productivity. This video in a disguised attempt to advocate paying people third world wages in a first wold country.
The big three workers made good money. Maybe to much for workers that only worked for two years and where making $23hr. But the reason why the big 3 need a bailout is because of 9/11 and no industry has fully recovered from it. Everybody loved the big SUVs 97-01 9/11 happens gas starts to go up. They already started making better fuel efficent cars and green cars. Who realy is at fault are these banks and CROOKS on wallstreet
So anything less than approx. $135,000/year is "third world" wages? The Japanese are a third world nation? They pay their employees third world wages?! Give me a break. Even if the executives (who are not without fault themselves, but not the root of the problem) took huge pay cuts to distribute to the company's employees, it's a much larger issue than that. The employees are doing manual labor at more than double the amount of wages a normal office worker would make. Pishposh.
Compared to Europe, Canada and Australia, the minimum wage in the US is a pittance. A kid working in McDonalds in Australia or Britain makes far more per hour than the US minimum wage.
CONSUMER REPORTS magazine, April 2008.
Experts in product testing, accepts no advertising, totally independant, nonprofit, purchases vehicles same as consumers and collects data on autos from owners through questionaires.
There, now I did YOUR homework.
I told you it was easy.
CONSUMER REPORTS is even available online, where you are now sitting.
The reason why we bailed out Detroit because we would've been in danger of losing an additional 1M jobs had we not. And made a horrible Economy even worse. Its really that simple.
The $75 an hour costs that is bandied about, includes the legacy costs of the every employee that ever worked there. Because they underfunded their healthcare and pension plans back when they were profitable and pocketed the difference, part of the cost of every car and truck GM, Chrysler and Ford made during that time has turned into a liability.
And now they're asking for even more money...
Feb 17th, GM wants 30 billion more, Chrysler wants 5 billion more.
Awesome video - shows how ridiculous the U.S. auto industry is. To be fair though, the execs that got these companies in this mess don't deserve their paychecks either though. I'm not an expert but it seems to me the best option would be to let these poorly run businesses go out of business.
The large auto companies are saddled with huge legacy costs because back when they were profitable, they underfunded their health care plans and their pension plans. Had these been properly funded, the legacy costs would be zero. Had they overfunded them, there would be no problem at all. What they did instead, is underfund these schemes and pocket the difference, leaving a huge mess and causing cost cutting which has reduced the desirability of American cars.
How much of the $75 per hour is health care cost, which is borne by the taxpayers in other countries, and, due to the efficiency of single-payer, is about half of what health care costs are here in the USA? I am guessing that it is close to the $25 difference in hourly cost argued in this video.
The unemployment rate is different (sometimes better sometimes worse) but the number of employed people who live in poverty is greatly reduced where there is a minimum wage in force. A strict minimum wage gives more money to the working poor, and THESE people are the ones that are more likely to put it straight back into the economy by spending it instead of saving, because they do not have the luxury of saving. As a percentage of income, expenses are higher. It is called the multiplier effect.
I didn't see in the constitution where it describes how government cab act as a business and a loan officer. Wow. Subsidies does not equal free market. I do not want to buy a huge gas guzzling car; I'd rather buy a small car like everyone has in Europe. What happened to free economic choice?
I did not specify a test. All through the issue there are graphs and tables. Every one shows that Japanese cars are far superior than U.S. models. I don't know why you are grinding an axe. I have no agenda here, just telling what is going on in car manufacturing.
Buy what you want. Its your money.
it doesnt take much to see that all this bailout is just fundamentally wrong.
Taxpayers are paying for the big three new cars.
you're missing the point. Let's say you have 100 executives whose total compensation packages equal 1,350,000 a year. High, but let's run with it. That covers a total of 10 employees each. So their salaries cover 1,000 UAW workers.
The UAW represents 73,000 workers in GM alone, having the ability to bring wages down to say $50 an hour or $104,000 a year, would save the company 2.3 billion dollars.
We could cut 1,000 executives making that 1.35 million to zero and not have the same impact.
I like how you use the word approx. What your statement really shows is the mindset that has lead to America being the richest country with the worst minimum wage. So for you to compare their pay check with other poorly paid American workers is actually showing how you justify low wages.
The real problem here is unsustainable business models and the first step in costs should be executives salaries. They earn alot and produce a little.
So the reason American car companies are unprofitable is because the people who actually make the products are paid to highly???
It seems that maybe the answer it that those companies are top heavy and a few less overpaid executives could help the companies maintain profitability without affecting productivity.
This video in a disguised attempt to advocate paying people third world wages in a first wold country.
Exactly! Grade A Bull!
Trying to make a profit isn't wrong. Stealing on the other hand is.
It is not available.. sorry if I pegged you wrong..
Cheers
The big three workers made good money. Maybe to much for workers that only worked for two years and where making $23hr. But the reason why the big 3 need a bailout is because of 9/11 and no industry has fully recovered from it. Everybody loved the big SUVs 97-01 9/11 happens gas starts to go up. They already started making better fuel efficent cars and green cars. Who realy is at fault are these banks and CROOKS on wallstreet
So anything less than approx. $135,000/year is "third world" wages? The Japanese are a third world nation? They pay their employees third world wages?! Give me a break. Even if the executives (who are not without fault themselves, but not the root of the problem) took huge pay cuts to distribute to the company's employees, it's a much larger issue than that. The employees are doing manual labor at more than double the amount of wages a normal office worker would make. Pishposh.
It vanished during the thirties and forties my friend. Been gone ever since.
Shhhh - you're not allowed to blame the unions.
Nice video. Very well done.
well done!
Moyniham? What nationality is that?
agreed great video
I should send MIchael a comb for his birthday.
It's a load alright...
What about TOYOTA?