The chart above shows average hourly compensation (additional data source here) for the Big Three ($73.20) and Toyota ($48.00), compared to average hourly compensation for Management and Professional Workers ($47.57), Manufacturing/Goods Producing ($31.59) and all workers ($28.48), data available here.Why do the Big Three auto manufacturers need a bailout? Let's start with the UAW monopoly requiring hourly wages which are not competitive with other auto makers. If they can't compete by paying these wages, they need to fail, renegotiate with the UAW for competitive wages or sell their companies to someone who knows how to compete with their rivals. This economic stuff is so easy - why do they need my advice?
No comments:
Post a Comment