Wednesday, October 28, 2009

Let's Bleed 'Em Dry

Ford is running into problems with the auto workers approving concessions which the company and the UAW leadership agreed. These concessions would keep Ford competitive with GM and Chrysler, who previously won the same concessions from the UAW and its members.

Because Ford is doing better than GM and Chrysler, auto workers are thinking that they don't need to make the same concessions - since if Ford is in better financial shape, it has more room to be bled with above-market compensation.

This continues the destructive behavior that the UAW and other large unions have shown for decades, destroying companies and industries (think auto, steel, and airlines with their multiple bankruptcies) in the process.

And thanks to Obama's bailout of GM and Chrysler, Ford pays the price for its success.

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