Steve_Cox wrote:This crisis ISN'T the auto industry's fault -- it's the massive credit crisis that's keeping people from making large, financed purchases (like cars) and prevents the auto makers from borrowing any money to get past the slow economic times.
Detroit's had a rough 8 years -- but, the product line has evolved. The American consumer, for over a decade, demanded SUVs over all else. The D3 all produced record profits.
But almost instantaneously, consumer demand for large SUVs fell off, and American car manufacturers (by their own miscalculation) had terrible mid and small car lineups. They were punished. GM, Chrsyler and Ford have all laid off significant numbers of workers.
But they've completely redesigned their product lines and improved quality.
Arne wrote:The workers in the auto industry made huge gains in pay and benefits that priced them out of the market, and then all of a sudden, they had competition.
caseydog wrote:
Of course, there is no way that ANYONE living in the US could live on what a South Korean autoworker makes. But then again, autoworkers in Germany have sweet pay and vacation packages, and the German auto companies are doing okay.
There has got to be more to this picture than unions and $78 an hour. German CEOs make a LOT less than American CEOs, BTW.
CD
S. Heisley wrote:I believe bailing out companies is bordering on socialism.
Our country was originally based on capitalism; but, I believe capitalism has gone awry because of corporate upper management greed and insensitivity to the market and the people. Anyone in upper management should earn his/her rewards. A law needs to be passed so that management can be allowed a modest salary plus a small percentage (or segment of a percent, depending on responsibility level) of any profits they are responsible for helping to create; but, not a carte blanche paycheck. However, if there are no profits, management should get only their modest salary.
Juneaudave wrote:We have some left over federal bridge money in Alaska, will that help?
S. Heisley wrote:
I believe bailing out companies is bordering on socialism.
Our country was originally based on capitalism; but, I believe capitalism has gone awry because of corporate upper management greed and insensitivity to the market and the people. Anyone in upper management should earn his/her rewards. A law needs to be passed so that management can be allowed a modest salary plus a small percentage (or segment of a percent, depending on responsibility level) of any profits they are responsible for helping to create; but, not a carte blanche paycheck. However, if there are no profits, management should get only their modest salary.
I am sorry but you contradict yourself. You believe that our country is getting away from its Capitalist roots and turning Socialist yet you advocate governmental laws restricting the salary that an employee of a privately owned or publically traded (shareholder owned) company can make. You advocate the creation of laws to suppress the compensation of a private citizen for the overall good of the people or the workers is one of the very core ideals of Socialism.
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