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heritage.org - 12/9/2008

UAW Workers Actually Cost the Big Three Automakers $70 an Hour

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Some observers argue that the $70/hour figure includes the cost of benefits paid to current retirees as well as wages and benefits paid to current workers and that the actual hourly earnings of current UAW members are much lower. This is a mistaken interpretation of the financial data released ...

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money.cnn.com - 12/16/2008

Why Asian automakers want a federal bailout of U.S. industry - Dec. 15, 2008

— money.cnn.com — NEW YORK (CNNMoney.com) -- Detroit's Big Three aren't the only automotive companies that want to see the... government step in with some much-needed financial help. Overseas automakers, most notably Toyota Motor, all endorse some form of federal aid to ... (more) Why Asian automakers want a federal bailout of U.S. ...

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Comments vote downundo vote up The Oil Drum - Discussions about Energy and ... found this 12/16/2008found this

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blog.mises.org - 12/10/2008

Mismanagement at the Big Three

— blog.mises.org — It was a dead heat. General Motors sold 9.37 million vehicles worldwide in 2007 and lost $38.7... billion. Toyota sold 9.37 million vehicles in 2007 and made $17.1 billion. That was the second best sales total in GM's 100-year history and the biggest ... (more) Mismanagement at the Big Three

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General Motors

Comments vote downundo vote up QandO found this 12/10/2008found this

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laborpains.org - 12/13/2008

22 Pounds of UAW Rules and Regulations

— laborpains.org — Ever wondered what a UAW contract looks like? Here is all 22 pounds of it (in this... case, Ford’s 2,215 page 2007 master contract; Coke can is for scale and because I was thirsty). I’ll tell you this much, those 2,215 pages don’t ... (more) 22 Pounds of UAW Rules and Regulations

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Ford Motor Company

Chrysler

Comments vote downundo vote up CARPE DIEM found this 12/13/2008found this

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Tuesday's Daily News
Club for Growth — THE DAILY NEWS Why the Economy Is In a Tailspin - Louis Woodhill, Real Clear Markets Instead Of Spending, Cut Taxes - Brian Wesbury & Robert Stein, Forbes The Obama Health-Care Express - Wall Street Journal Editorial Big Three Bailout Gains Traction - Martin Kady & Manu Raju, The Politico For Bailout, The Devil is in The Details - Silla Brush, The Hill UAW Workers Cost Big Three Automakers $70/Hour - James Sherk, Heritage The New Beast Of Big Labor - IBD Editorial ...

Microblog 2008-12-09
Overlawyered — ... relied on UAW assertion that oft-heard $73/hour figure for GM compensation was misleading because it included vast army of retirees; but per this new paper, the number really does reflect only payments for currently active workers [James Sherk, Heritage] ...

My feelings on bailing out the auto companies . . .
Newmark's Door — ... of Daniel Ikenson of Cato (link via Chris Moody.), and this commentary by James Sherk of Heritage, who claims that the widely-cited $73/hour figure for labor costs does not include legacy medical and retirement benefits. ...

How Much Do UAW Workers Cost?
Stefan Karlsson's blog — ... But as James Sherk of the Heritage foundation points out, that would be incompatible with established accounting principles. According to established accounting principles set by the Financial Accounting Standard Board, the cost of benefits for retired workers should be taken when they're accrued (when the workers are still working). It is not permitted for companies to promise workers benefits after they've retired without taking it up as a cost now. Leonhardt appears to have derived his figures by only including wages and benefits paid out today to workers, while excluding ...