Quote:
Originally Posted by woj
government involvement through quotas/tariffs screwed Detroit... without government involvement Detroit auto industry would have been forced to get their shit together, to lower wages to sustainable levels, to innovate, etc, decades ago...
there would have been the talk: "look guys, we pay you $50/hr (with benefits and other costs)... Japanese pay their guys $30/hr... either you get a pay cut, or we are out of business, we just can't compete by paying you $20/hr more than the competition"... unions and the government involvement prevented this talk from taking place...
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Bullshit -- STRIKE!!! STRIKE!!
Every few years ... UAW workers were unreasonable for years. I think is goes back to the 1920s and 1930s spirit of animosity.
Near the very end the UAW expressed a willingness to compromise -- but only on tier 2 wages and benefits for new hires into the UAW. The Chapter 11 Bankruptcy -- everybody took the loss. Shareholder equity -0- including the workers 401 K money invested back into the company stock, bondholders took a haircut at GM or a loss at Chrysler. The taxpayers invested -- the Treasury did get their money back -- with a profit. Total implosion.
Sad part is US made gasoline autos still lack innovation. Just like a BMW has for less -- the quality is not there. Tesla is innovation. Every one else is playing catch up now. What ever happened to the Hydrogen engine. Cheap oil and big cars again.