Everyone has to get off their high-riding horse and become realistic. This is the worst economic crisis in years and it affects the entire global economy. Before this even happened, the big three must have known they were in turmoil over a year ago, and what to they do…continue their big spending. Most of the problem is with the upper management and their lack of being able to manage their finances correctly. Granted…they are a big part of the problem.

However, another part of the problem is the UAW and CAW. They are also to blame for this crisis and the recent Congressional decision to not bailout the big three. Reason: they were not willing to sacrifice their pay (specifically UAW) to help the bottom line as their current contract expires in 2011. I have a problem with that…with loads of companies laying off people and various companies reducing pay, why should taxpayer money go to a failing industry without a plan?? I would not like to have my taxpayer money go to industries where they will just continue along like nothing is happening and without their employee base helping out at the bottom line by having their over-inflated wages decrease by a bit.

Just moments ago, GM announced all North American operations will be suspended for the month of January, leading into the first two weeks of February. This is likely to translate to no payout to the union’s, therefore, no pay to the workers either.

If this industry is to survive in North America, everyone has to take a hit, including the workers who manufacturer these cars. I don’t see this happening any other way.

This entry was posted on Friday, December 12th, 2008 at 17:33 and is filed under My Blog. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.