Great perspective on Big Three bailout from Carpe Diem
Posted by Liberty on December 5, 2008
Professor Mark J. Perry of Carpe Diem blog fame has been consistently posting good info on the plight of the Big Three automakers. He’s been especially highlighting the fact that union labor contracts have been a major reason that the Big Three are no longer competitive. The MSM is handling the union with kid gloves, but that’s nothing new. For instance, what do you know about the Job Bank? The Job Bank is a union-backed program where laid-off autoworkers can collect up to 95% of their wages and benefits. That’s right–the Big Three have been paying union workers, even when they’re not working. Hmm…have Honda or Toyota been hamstrung by this kind of program? The answer is no, because they employ non-union workers and consequently haven’t had the UAW gun to their heads. Read Professor Perry’s brilliant post: Cost of Jobs Bank 2005-2008: $4,200,000,000.