Quote:
Originally Posted by rshoffer
I think Kahuna's point is that the taxpayers should not be required to subsidize this industry. If they can pay their workers 500 dollars an hour and run a profitable company... great. It doesn't look like "business as usual" will work much longer. The taxpayers will surely revolt if asked to cough up much more.
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I understand, Rshoffer, and I'm thinking we should not subsidize the bailout or the bankruptcy of automakers. CNBC did a piece today that Toyota is taking a big hit in this economy and they are now concerned also. I'm trying to glean perspective as to how this will effect the autoworkers if wages and benefits are cut, (Kahuna has indicated his son works for Ford).
I sense from Kahuna's post that his son feels Ford needs to make these cuts and I am wondering how his son and other workers plan to deal with these cuts. Will they leave their jobs, will they stay, will they need to change homes, schools for their children, medical care, etc. or is there such a huge cushion in their wages that these changes will only cut out the European vacations, exclusive Ivy League schools, Country Clubs and so forth? I have never met a wealthy autoworker but that doesn't mean they're not out there. I'm finding myself very adverse to bailouts, particularly of the investment/banking industry but then I also realize that if we are quickly becoming the very rich and the lower class, there will be problems in the streets.
On the other hand, we may all have to deal with deflation worldwide and that is another realm of havoc. I am trying to watch less of CNBC.
