Auto bailout dies in Senate
A $14 billion bailout for Detroit's struggling Big Three has died in the Senate after failing on a procedural vote.
The collapse came after bipartisan talks on the auto rescue broke down over GOP demands that the United Auto Workers union agree to steep wage cuts by 2009 to bring their pay into line with Japanese carmakers.
Majority Leader Harry Reid said he hoped President George W. Bush would tap the $700 billion Wall Street bailout fund for emergency aid to the automakers. General Motors and Chrysler have said they could be weeks from collapse. Ford says it does not need federal help now, but its survival is far from certain.
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I call it UAW arrogance to not recognizing the serious situation and trying to keep their archaic benefits intact.
They refuse to any wage concessions by a specific date in 2009, aiming to accept any cuts in 2011 when their contract expires.
We are in the middle of the biggest recession and the UAW refuses to adapt or change.
Comments
Posted by: Kingwood
Posted on: December 27, 2008 05:50 PM
Unions served their purpose at one point in time; however, their relevance has for the most part come to an end.
Businesses need the ability to manage operations effectively and efficiently and workers need to realize that no one has a magic money tree. If you do your job well and contribute to the success of the business, you will keep your job and advance. If not, prepare to be cut.
Relying on unions to keep your job even if that job is obsolete will result in what we are seeing today . . . the failure of the business as a whole.