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Auto Industry Bailout
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Join Date: Aug 2005
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http://www.clickondetroit.com/video/10235271/index.html
Now that's what I call productivity at the workplace
Now that's what I call productivity at the workplace
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Would you want to buy a car built by the booze-hounds in the afternoon?
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And they get paid $28USD/hour for doing that! No wonder american cars are so expensive compared to cars from other countries. But hopefully, those guys are the exception.
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Bail out the UAW for the bargain price of only $500 billion!
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The average American worker makes $25 an hour in wages and benefits or roughly $45K per year.
The average American worker employed by Honda, Nissan and Toyota makes $45 an hour in wages and benefits, which translates to $80K a year.
But each UAW worker earns $75 an hour in wages and benefits, or roughly $130K a year.
"One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary." --Ayn Rand
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Originally Posted by Dave Sinkula 
Bail out the UAW for the bargain price of only $500 billion!
We are not talking bailouts, but loans.
Over time, all cars will be made in China or India were folks are willing to work for $1/hour. Of course that will be the fate of a lot of other US industries.
Last edited by sneekula; Dec 21st, 2008 at 5:46 pm.
No one died when Clinton lied.
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I don't know who did the math, but $25/hour times 2080 hours in a work year is $52K, not 44K.
>>We are not talking bailouts, but loans.
Bailouts for the banks are loans too. "Bailouts" doesn't mean free money with no repayments.
>>We are not talking bailouts, but loans.
Bailouts for the banks are loans too. "Bailouts" doesn't mean free money with no repayments.
Last edited by Ancient Dragon; Dec 21st, 2008 at 5:52 pm.
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Originally Posted by Ancient Dragon
I don't know who did the math, but $25/hour times 2080 hours in a work year is $52K, not 44K.
>>We are not talking bailouts, but loans.
Bailouts for the banks are loans too. "Bailouts" doesn't mean free money with no repayments.
No one died when Clinton lied.
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Originally Posted by sneekula
Some blogger didn't do the required homework again. The $75 attributed to the UAW autoworker includes all the benefits and the retiree burden. The actual wage of a UAW worker is $28. I have many friends that work for the auto industry and none of them makes close to $75, that is just utter BS.
[edit]I don't suppose there is any clarity in this, though.
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Only 38 percent of the $75.81 an hour that Chrysler's UAW workers earned came as base wages. The rest came as benefits (though some of those benefits, such as overtime premiums and paid vacation days, are paid in cash). Health care costs are the most expensive benefit, accounting for over a quarter of total compensation.
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Originally Posted by Ancient Dragon
I don't know who did the math, but $25/hour times 2080 hours in a work year is $52K, not 44K.
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Based on a 35.5 hour workweek, the average hourly hours worked at DaimlerChrysler in 2006.
Last edited by Dave Sinkula; Dec 22nd, 2008 at 12:33 am.
"One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary." --Ayn Rand
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Originally Posted by Dave Sinkula
Bail out the UAW for the bargain price of only $500 billion!The average American worker makes $25 an hour in wages and benefits or roughly $45K per year.
The average American worker employed by Honda, Nissan and Toyota makes $45 an hour in wages and benefits, which translates to $80K a year.
But each UAW worker earns $75 an hour in wages and benefits, or roughly $130K a year.
Firstly, if you want to translate hourly to yearly, multiply the hourly by 2000 and that will get you close to yearly.
Secondly, the $75 per house in wages and benefits is actually wages, benefits, and legacy. I hope I do not have to explain the difference between benefits and legacy benefits. If you are going to compare 'stuff' compare 'stuff' accurately.
Thirdly, labor costs are still under 11% of the cost of a car.
Imagine a world without hypotheticals....
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Any way you play the numbers, there's plenty of blame to go around.
Why are upper managers being paid hundreds of thousand, or even millions, when the companies are losing money? How is rewarding failure an incentive to improve?
The UAW has painted the industry into an untenable corner, with job security and benefits that drain the companies. (Look up "jobs bank"). Nothing changes without UAW stamp of approval, so real productivity and quality improvements don't happen as readily (if at all) as in the nonunion auto companies.
Why are upper managers being paid hundreds of thousand, or even millions, when the companies are losing money? How is rewarding failure an incentive to improve?
The UAW has painted the industry into an untenable corner, with job security and benefits that drain the companies. (Look up "jobs bank"). Nothing changes without UAW stamp of approval, so real productivity and quality improvements don't happen as readily (if at all) as in the nonunion auto companies.
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