GM’s pension plan is not sustainable at all. It will implode. Most other pensions and 401k’s are likely doomed as well. Putting all your eggs in a single “diversived” basket isn’t being diverse or safe at all. Investing in something that provides no cashflow and only offers aspirations of appreciation for profit is the logic of a person with a low financial IQ.
The execs for all companies should get a base salary and then incentive based on specific goals. But then again I feel the same about pro athletes, I digress.
But don’t worry…most biz are “too big to fail” and we will be penalized for their poor management via taxes and inflation as a secondary tax. SIGH.
Just remember, Biden was quoted as saying “unions are needed to restore good-paying jobs here in America”…
Not that having a high-paying job is bad - it’s just that there’s no way to compete when it’s so cheap to ship from a country with an average wage of $150/week.
Yeah, 15-20 is way more than enough considering they are unskilled positions on assembly lines.
Kids go to school for 4+ years and don’t even make 15/hr.
The legacy costs of pensions, medical, and other benefits I think is personally more responsible for soaking up the majority of the money in these companies.
Also, the unions are really a joke. Watching people get walked out of a building because they were on drugs or drunk, and then seeing them back on the job a week later. Why did the unions fight to bring back the bad apples? Really…
I think we should trade with the rest of the World but they should make $.20/hour so I can buy cheap stuff while I make $40.00/hour. I don’t see why this plan won’t work longterm.
