Ford|GM Merger

[bics56]

@ShalerPunk

The 75 figure includes everyone, not just union employees. It includes the CEOs.

@foxrus14

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UAW workers are among the world’s most affluent. They take home an eye-popping $75 an hour in wages and benefits – triple what the average private-sector worker earns. They get seven weeks’ paid vacation and holidays.

UAW workers retire after 30 years on a generous pension. If they don’t qualify for Social Security benefits because they’re in their 50s, they get special bonus payments until they do.

Not to mention gold-plated health coverage. For $10 a month and a $250 deductible, UAW workers and retirees get comprehensive medical, hospital, surgical and prescription drug coverage. Most retirees in Medicare, by contrast, must pay thousands of dollars annually in premiums, deductibles and copays.

Worse, under the union contracts the automakers do not lay off workers when plants close. Instead they transfer them to the JOBS bank. There they get nearly full pay to not work. Detroit automakers actually pay thousands of workers six-figure salaries to sit around and play Trivial Pursuit.

Do you have a link that verifies this? The article clearly states UAW workers make $75/hr. I do not understand why this is hard to believe. If you look at how great their benefits are it sounds about right. It is not uncommon for a assembly line worker to take home over $100K in salary including overtime wages…So add in benefits and it sounds about right to me. I know this because I see these costs when working on budgets at the company I work for. You would be surprised what people make when you add in their benefits.

@kilmer420

What is your point? It’s not like GM didn’t set this deal up with UAW themselves. They agreed to a contract (actually they reneged on a contract, and hence why they had to renegotiate the last several times i.e. pension issues) by they I mean both parties. The GM continued to make SUV’s when they knew it was only an issue for them. They kept paying CEO’s exuberant amount of money. GM should be punished for making a bad business model, not bailed out. They should fire all those executives!!!

I say that Exxon mobile and the like companies should be the ones giving the big 3 a bailout. But Bush wouldn’t do something that would make this much sense. And trust me, they can afford it, even with prices declining now, they are still making crazy loot:

http://www.msnbc.msn.com/id/22949325/

http://abcnews.go.com/Business/PainAtThePump/wireStory?id=6146013

It comes off like you are trying to justify what a UAW worker makes. Yes GM (along with Ford and Chrysler) agreed to these contracts…but when there is always a threat of a huge strike what are you to do? They remind me of how the people in the hill district acted when the new arena deal was being made…trying to extort…get more than what they are owed. I do agree with you about the executives …it is unreal to make the money they make.

Not even going to comment on the oil company point you made…