Big 3 bailout

Ξ November 25th, 2008 | → 0 Comments | ∇ demwits, duh, oh shit, politics |

Jack watched the Big 3 CEO’s crying a river over their financial problems and it’s really hard for him to muster up much sympathy. The CEO’s draging down astronomical salaries (which most CEO’s do but they aren’t begging for a bailout yet), flying in their private jets (not one but SEVERAL) to pick up this bailout! The smugness of Ford and GM when asked if they were willing to take a cut in their salaries by one of the Senators was sickining. Chrysler CEO had the good sense to not make that mistake and said he would take $1 till this is over.

But not only them. The union hands too! Lets do some math. The average UAW auto worker makes $74 per hour with very good benefits.

$74 * 2080 hours (40 hrs a week for 52 weeks) = $153,920

Thats $100,000+ … more than the average salary of the US workforce.

The other car manufacturers (Toyota etc … ) make an average of $47 per hour.

$47 * 2080 hours (40 hrs a week for 52 weeks) = $97,760

So the difference in the UAW workers and their competitors …

$153,920 - $97,760 = $56,110 … the difference is still more than the average US workers salary.

They wander why they can’t compete? And we aren’t even going to go into their product line!

No Jack can’t muster up much sympathy for the Big 3 CEO’s or union workers and he is an old union hand himself … can you!